Thor Mining releases scoping study results for Pilot Mountain

Thor Mining announced the results of a scoping study for the Pilot Mountain tungsten project in Nevada on Friday, reporting total Desert Scheelite forecast open pit production of 7.5 million tonnes.

The AIM-traded firm said the Desert Scheelite would have an operational life of 12 years, with open pit mining over 11 years and one additional year to complete processing.

Annual throughput would be 650,000 tonnes from the Desert Scheelite open pit, producing scheelite concentrates and copper silver concentrates, as well as zinc silver concentrates.

Preliminary analysis also suggested some potential for economic mining and processing from the higher-grade Garnet deposit, supplementing production from Desert Scheelite.

Pre-tax profit expectations from initial open pit operations would range from $125m base case from Desert Scheelite, up to $317m, which the board said included improved Scheelite recovery, reduced mining costs at greater throughput volumes and the potential inclusion of Garnet mine production.

Study outcomes reportedly supported a decision to commence a more detailed pre-feasibility study to progress the project along the development pathway.

“I am delighted to release the results of the scoping study for the Pilot Mountain project showing potential for at least a medium term life on one, and potentially two, of the four tungsten deposits at 100% owned Pilot Mountain,” said Thor’s executive chairman Mick Billing.

“Closed circuit metallurgical testwork on Desert Scheelite ore has commenced which will, hopefully, upgrade the results of open circuit work previously conducted, which achieved 72% recovery of scheelite and saleable quality concentrates.”

Billing said the Pilot Mountain project hosted four known deposits, and it was anticipated that each of those had the potential to contribute further as the firm continued to explore their potential.

“With no US domestic production, and tungsten classified by the US Department of the Interior as a critical mineral, our objective is to restart United States commercial mining and tungsten concentrate production after a significant break.

“We look forward to providing regular updates on this project as material developments occur.”