The Directors of Thor Mining PLC (“Thor”), (AIM, ASX:THR) (Note: ASX THRDA to 19th September 2013) are pleased to advise that drilling has recommenced at its Spring Hill Gold Project, located south-east of Darwin in Australia’s Northern Territory.
The program will comprise up to 2,000 metres of reverse circulation (RC) drilling targeting;
- Near-surface mineralisation, including shallow targets identified in 2012 outside of the current resource (figures 2&3);
- Potential extensions to high grade mineralisation previously subject to historic mining operations; and
- Other potential satellite targets within Spring Hill lease area.
The program is expected to last for several weeks.
Commenting, Mr Mick Billing, Executive Chairman of Thor Mining, said: “Spring Hill is potentially a near-term low cost mining operation for Thor. The operating cost of production identified in the study announced on 26 June 2013 of below A$1,100/ounce compares with a current gold price of around A$1,450/ounce. Any addition to the mining inventory that may come from this program has the potential to increase production at reduced unit cost.”
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