Thor Mining Plc (AIM, ASX: THR, OTCQB: THORF) has intercepted scheelite, molybdenite and chalcopyrite mineralisation within a magnetite skarn with the second hole in the diamond drilling programme at the Molyhil tungsten-molybdenum-copper Project in Australia’s Northern Territory.
- Hole 21MHDD002 intercepted over 45m of disseminated scheelite-molybdenite- chalcopyrite mineralisation in a massive magnetite-rich skarn.
- Drilling confirms that the newly identified magnetic target to the south of the Molyhil deposit is a continuation (possibly offset) of the Molyhil deposit tungsten- molybdenum-copper mineralisation.
- Based on the success of the second drillhole, a third hole is now underway, designed to target the projection of the 21MHDD002 mineralisation down plunge.
“We are excited to be sharing this new discovery at our Molyhil critical metals project,” Managing Director, Nicole Galloway Warland, said.
“Testing a new geological concept, in this case an interpreted magnetic target from 3D modelling to the south of existing mineralisation, has paid off significantly. The tungsten- molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model.
“The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project. We look forward to updating shareholders as more information becomes available.”
Diamond Drilling Program
During a 3D geological and geophysical modelling exercise completed in March/April 2021, a potential extension to the known Molyhil tungsten-molybdenum-copper mineralisation was defined by a large magnetic target. It was noted that previous drilling in this area had not tested the newly identified magnetic body.
Two drillholes (21MHDD001 and 21MHDD02) of the planned diamond drilling programme are near complete and based on the success of the second hole a third hole is now underway.
21MHDD002 intercepted over 45m of disseminated mineralisation, consisting of scheelite-molybdenite and chalcopyrite within massive magnetite skarn from 249.7m.
It appears 21MHDD001 hit the edges of the magnetite skarn however, with negligible mineralisation. Initial interpretation of data highlights a potential south plunging lode extending south of the Southern lode with a possible offset (yet to be determined).
The 3D geological modelling of the Molyhil deposit identified two prominent structures – Yacht Club fault and South Offset fault.
Based on the geological timing of these faults, they appear to have had a significant impact on mineralisation, such as offsetting the Yacht Club mineralisation from the Southern Lode, hence creating targets for potential extensions.
Modelling of the South Offset Fault, relative to the magnetics, strongly implies an offset of the magnetic material (interpreted to be magnetite skarn), host to the tungsten- molybdenum-copper mineralisation, south of the South Offset fault.
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