LONDON (Alliance News) – Thor Mining PLC announced on Friday that it has extended the known mineralisation of the Desert Scheelite resource in the US.
“Reprocessing of geophysical data suggests significant eastern extension to the known Desert Scheelite lode,” said the company in a trading update.
Mark Billing, executive chairman of Thor, said that the company had “exciting targets for higher-grade eastern extensions at depth” and that there was potential for parallel lodes to the north of Desert Scheelite.
AIM-listed Thor also said it will commission a maiden resource estimate for the Garnet deposit following “positive assay results” at its recent drilling programme there.
Thor said it will test areas to the east and north of the current known Desert Scheelite lode in subsequent drilling.
Shares were down 4.0% to 1.15 pence on Friday.
By Tom Rees; firstname.lastname@example.org
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