Further Drilling Results for

RNS Number : 0706U

Thor Mining PLC

17 June 2009

 

THOR MINING PLC

FURTHER DRILLING RESULTS FOR MOLYHIL

Thor Mining PLC, AIM, ASX: 'THR' ('the Company' or 'Thor'), the specialist metals company focused on advancing tungsten-molybdenum and uranium projects in the Northern Territory of Australia, announces further results from the recently completed program of reverse circulation ('RC') drilling at its 100%-owned Molyhil Tungsten-Molybdenum Project in the Northern Territory ('Molyhil').

Continental Resource Management Pty Ltd ('CRM') has re-estimated the resources, details of which are tabulated below. The revised resource has slight increases in both tonnage and in MoS2 and Fe2O3 grades from those of the previous estimation, but has a slight decrease in WO3 grade.

Summary of Rounded Resource Estimates - 15.25% Fe2O3 Lower Cut

Classification	Resource (t)	MoS2 (%)	WO3 (%)	Fe2O3 (%)
Measured	540,000	0.24	0.33	29.40
Indicated	2,300,000	0.18	0.38	27.90
Inferred	900,000	0.20	0.15	0.27
Total	3,750,000	0.19	0.32	28.00

Note: Totals may differ from sum of individual items due to rounding.

The magnetite content of a range of samples from the mineralised skarns was determined by Amdel. CRM estimated that the skarns contain an Inferred Resource of 500,000t of magnetite (3.8Mt @ 13% Fe3O4).

Preliminary metallurgical testing has indicated the magnetite is very high quality suitable for use in coal washing.

JORC Compliance

The geological information in this report which relates to exploration results and mineral resources is based upon information compiled by Mr. J.J.G. Doepel, B.Sc (Hons), GradDipForSc, Dip Teach, Principal Geologist of Continental Resource Management Pty Ltd. Mr. Doepel is a member of the Australasian Institute of Mining and Metallurgy and has sufficient expertise and experience which is relevant to the style of mineralisation and to the type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Doepel consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.

Enquiries:

Mick Billing	+ 61 (0)414 741 007	Thor Mining PLC	Executive Chairman
Laurie Ackroyd	[phone]	Thor Mining PLC	Company Secretary
John Simpson	020 7776 6550	Daniel Stewart & Company plc	Nominated Adviser

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.

 

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