Thor Mining has an upgraded and increased Mineral Resource Estimate containing tungsten, copper and now zinc, for the Desert Scheelite deposit at Pilot Mountain in Nevada, USA. Highlights:

• The Desert Scheelite mineral resource estimate now comprises 10.7 Mt at 0.26% WO₃, 19.38 g/t Ag, 0.15% Cu and 0.38% Zn (above cutoff grade of 0.15% WO3)
• The upgraded mineral resource estimate represents a 6.5% increase in the scheelite inventory for Desert Scheelite, now containing 27,700 tonnes of WO₃ (tungsten trioxide) 85% of which is in the Indicated Resources category
• For the first time, the estimate includes zinc in the resource inventory, contributing an additional potential by-product stream to the project
• The planned flotation recovery process, currently being trialled, is likely to recover zinc sulphides into concentrate with minimal additional cost
• The resource inventory still has considerable growth potential via the Gun Metal and Good Hope deposits, as well as further potential upside at both Desert Scheelite and Garnet.

Mick Billing, Executive Chairman, commented: “This addition to the resource estimate at Pilot Mountain further enhances the potential of this exciting project. Pilot Mountain hosts a large and, in the directors’ view, valuable tungsten resource in the USA, where there has been no primary production of tungsten for some years, despite being classified as a critical mineral by the US Department of the Interior.“

“I look forward to outlining the next steps for this key company project in the coming weeks. This update will complement comprehensive updates across all areas of our operations in what is a highly proactive period for Thor.”

“In this regard I also expect to provide updates to the market in respect of Molyhil commercialisation, the Bonya project review exercise (including vanadium) and the latest developments in respect of the company’s Kapunda copper project interest.”

Thor’s Pilot Mountain project, acquired in 2014, is located approximately 200 km south of the city of Reno and 20 km east of the town of Mina located on US Highway 95.

The Pilot Mountain project comprises four tungsten deposits: Desert Scheelite, Gunmetal, Garnet and Good Hope. All are in close proximity (~3 km) to each other and have been subjected to small-scale mining activities at various times during the 20th century. Union Carbide acquired the project in 1978, for $7.0 million (estimated at $26million – $40million in 2017 dollars), and conducted detailed exploration and feasibility activities until, following a global downturn in the tungsten industry in the 1980s, it suspended further work.

Thor Mining is quoted on the AIM Market of the London Stock Exchange and on ASX in Australia. Besides 100% of the Pilot Mountain tungsten, It also holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018 suggested attractive returns.

Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.

Thor has a material interest in Hawkstone Mining, an Australian ASX listed company with a 100% Interest in a Lithium project in Arizona, USA.

Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project.