Thor Mining completes feasibility study on Australian project

13 October 2011 (Last Updated October 13th, 2011 18:30)

Thor Mining has completed a definitive feasibility study (DFS) on the Molyhil tungsten and molybdenum project in the Northern Territory, Australia.

Thor Mining has completed a definitive feasibility study (DFS) on the Molyhil tungsten and molybdenum project in the Northern Territory, Australia.

Molyhil project, located 220km north-east of Alice Springs, comprises of two main south-east plunging lodes of coarsely crystalline scheelite and molybdenite hosted in magnetite skarn.

According to the DFS completed by Proteus EPCM Engineers, the project has potential cash operating margins of A$98 (US$98.4) per tonne of ore processed for a phase one pit of 1.4Mt of ore.

Capital costs of the project is estimated to be A$66m (US$66.3m) including operating costs of A$79 (US$79.3) of ore mined and processed and annual throughput of 400,000tpa of ore.

The firm will now carry out the next phase of DFS, which will involve re-estimating the ore reserve, including use of the above calculated parameters, and preparation of a new mining plan for the Molyhil operation.