Thor Mining begins drilling programme near Molyhil

The 50-hole programme was to test bedrock through shallow alluvial cover. These were targeting magnetic anomalies with similar characteristics to Molyhil..

"Exploration adjacent to known deposits (brownfields exploration) historically has a much higher success rate than greenfields exploration," said executive chairman Mick Billing.

"We are hopeful that this initial test of the localised Molyhil lookalike targets will lead to the discovery of additional deposits and, subsequently, to a significant increase in the project's current known mining inventory," he said in a statement.

"The key objective is to extend the current proposed mine life of Molyhil, and hopefully increase the scale of operations to reduce unit production costs."