Thor Mining Rreports Tungsten-Molybdenum-Copper Mineralization at Molyhil Deposit

Thor Mining discovers tungsten-molybdenum-copper mineralization at Molyhil deposit in the Northern Territory of Australia. The Molyhil project is hosted in two adjacent skarn bodies and contains outcropping pyromorphite and scheelite mineralization. The deposit has been the subject of systematic test work since mid-2004, including geophysical surveys, diamond and RC drilling programs, surface and underground bulk sampling, metallurgical test work, and geotechnical studies.

Molyhil is located 220 kilometers northeast of Alice Springs and already has 4.4 million tons of tungsten, molybdenum and copper resources. Thor Mining PLC says it has intercepted more than 45 meters of tungsten-molybdenum-copper mineralization at its Molyhil project in the Northern Territory, Australia.

It said the second hole of the 1,000 meter diamond drilling program confirmed that the newly discovered magnetic target south of the Molyhil deposit is a continuation (possibly offset) of the tungsten/molybdenum/copper mineralization at the Molyhil deposit.

“We are excited to share this new discovery from our Molyhil critical metals project," said Nicole Galloway Warland, the company's managing director. “The magnetic targets interpreted from the 3D modeling of the southern portion of the existing mineralized zone have paid off in a big way. The tungsten-molybdenum-copper mineralization zone is open to the south and the third hole is designed to test the model in the south dip."

Directly south of the deposit, in a previously untested area, this extension of mineralization is critical to the overall Molyhil project, which is located 220 kilometers northeast of Alice Springs and already boasts 4.4 million tons of tungsten, molybdenum and copper resources," Galloway Warland said.

Thor is an exploration and development company with an upcoming advanced tungsten-molybdenum-copper mineralization, a growing tungsten resource, as well as a rich copper resource and an exciting advanced gold/nickel and uranium/vanadium exploration program. Thor is listed on London's investment market (AIM) and the Australian stock exchange (ASX).

Thor Mining completed an updated Feasibility Study in August 2018. The study confirmed that the project is technically and economically viable, has a 7 year life, with strong financial returns and rapid capital payback.

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