Tag: Thor Mining

THOR Mining (ASX:THR) has announced pleasing results at its wholly-owned Pilbara Goldfield tenement, with gold, nickel and chromium assays from preliminary geochemistry reconnaissance. After strong results from the initial gold panning, laboratory results have subsequently given support to gold potential as well as nickel and chrome at the location. Three samples assayed over 0.3g/t gold, with one at 0.9g/t gold. Visible gold was present in thirteen out of forty-four samples from sediment trap sites. Nickle and chromium anomalies were also observed at up to 1272ppm Ni and 2074ppm Cr. The program comprised stream sediment trap site sampling comprising coarse and fine fraction sediment. Executive chairman Mick Billings said he was encouraged by the results of the initial reconnaissance which led...

BY ELIZABETH FABRI   DEMAND is beginning to pick up for tungsten as China – the world’s largest producer and consumer – begins to scale back production, leaving Australian near-term producers in the box seat. We chat with Australian explorers Tungsten Mining and Thor Mining about their respective projects, and outlook for the year ahead.   Tungsten is one of the lesser-known commodities, but its reach extends to a number of modern electrical applications, including the vibration device in our mobile phones. The strongest natural metal on earth has been predominately mined in China, and Europe, up until now, and used in the manufacturing sector for machine tools, a toughener in steel alloys, as well as in ammunition and armour....

Image: Thor.   BY JESSICA CUMMINS   THOR Mining’s proposed $69 million Molyhil tungsten mine in the Northern Territory could deliver net value of $100 million and more than $500 million in revenue over its seven year mine life, according to new findings from an enhanced Definitive Feasibility Study (DFS).   The project, 220km northeast of Alice Springs, would include a simple open-cut mining operation and conventional mineral processing plant, and deliver an early payback within 18 months of first production. Thor executive chairman Mick Million said the upgraded Net Present Value in excess of $100 million demonstrated the substantial value the project holds for the company.   “There is further significant upside at Molyhil from expanding into potential underground...