Arafura Resources and Thor Mining confirm Bonya tungsten and copper results

Arafura Resources Thor Mining ASX ARU THR Bonya tungsten copper results
Arafura Resources and Thor Mining have intersected up to 1.13% tungsten and 1.23% copper in their latest drilling campaign at Bonya.

Laboratory assays have confirmed Arafura Resources (ASX: ARU) and Thor Mining’s (ASX: THR) previously reported tungsten and copper XRF readings from drilling at the joint venture’s Bonya project in the Northern Territory.

The joint venture revealed portable XRF results in May from the reverse circulation program at the White Violet and Samarkand deposits.

Laboratory assays have confirmed those readings with highlight intersections at White Violet including 29m at 0.70% tungsten from 81m, including 13m at 1.13% tungsten from 91m.

Other notable intercepts were 27m at 0.29% tungsten from 35m, including 16m at 0.31% copper from 43m.

Over at Samarkand one of the best intercepts was 9m at 0.74% tungsten from 64m, including 2m at 0.2% copper form 59m.

A 7m at 1.23% copper interval was also unearthed at Samarkand.

“It is exciting to have confirmation of very good tungsten results along with exciting copper readings from the White Violet and Samarkand deposits at Bonya,” Thor executive chairman Mick Billing said.

“These robust, near surface tungsten and copper mineralisation occurrences have significant growth potential and the joint venture will now target near term drilling to both test the extent of the deposits and facilitate reportable mineral resource estimates,” he added.

Bonya joint venture

Arafura owns 60% of Bonya, with Thor holding the other 40%. The project has an exploration target between 3-4.9 million tonnes at 0.3-0.5% tungsten and a copper resource of 230,000t at 2% copper for 4,600t of the mineral.

The duo is looking at processing any Bonya ore at Thor’s proposed Molyhil plant, which is designed to extract copper as well as tungsten and molybdenum.

“So, any primary copper at Bonya can potentially be extracted at minimal additional cost,” Mr Billing said.

Thor’s proposed plant is part of its wholly-owned Molyhil project, which is adjacent to the Bonya tenements.

Arafura managing director Gavin Lockyer said the joint venture would now focus on planning a follow up drilling program.

Lorna has more than 10 years' experience as a finance journalist and editor. She has written for numerous industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has also covered a myriad of small and large cap ASX and dual-listed stocks.