By ERWIN CHLANDA
NT miner Thor, which owns owns the Molyhil tungsten and molybdenum project north-east of Alice Springs, has announced it has raised $742,000 and bought Pilbara Goldfields and Hamersley Metals.
They hold interests in two granted licences and seven licence applications at various stages of advancement.
Thor Executive Chairman Mick Billing says Thor is now “mine construction ready”and engaged in a “commercialisation process to secure project level finance.
“The company is seeing the maturity of its Molyhil project as we move toward the mine construction and production phases,” says Mr Billing.
“The Northern Territory Aboriginal Areas Protection Authority has now issued the Authority Certificate clearing the way for exploration activities on the Bonya Project Exploration Licence EL29701.
“Pending re-establishment of access following substantial rain brought about by ex-Tropical Cyclone Trevor, planned exploration activities includes the drilling and additional trench sampling programs to advance the first five of 13 outcropping tungsten deposits.
“The program will comprise in the order of 2,500 metres of drilling by Reverse Circulation method in addition to 200 metres of trench sampling across the outcropping deposits,” he says.
“Pending re-establishment of access following substantial rain brought about by ex-Tropical Cyclone Trevor, planned exploration activities includes the drilling and additional trench sampling programs to advance the first five of 13 outcropping tungsten deposits.
“The program will comprise in the order of 2,500 metres of drilling by Reverse Circulation method in addition to 200 metres of trench sampling across the outcropping deposits,” he says.
PHOTO: Thor’s Molyhil site.