In November 2022, Fram Resources Pty Ltd (Fram), a wholly-owned subsidiary of Investigator Resources Ltd entered in a Heads of Agreement with Molyhil Energy Pty Ltd (Molyhil), a wholly-owned subsidiary of Thor Energy PLC, for exploration on the Molyhil and Bonya tenements by Fram.
14 August 2024 The Directors of Thor Energy Plc to announce that, further to the announcement on 24 November 2022 in relation to the Farm-in Funding Agreement and the announcement on 24 April 2024 in relation to the Completion of Stage 1 Earn-In Commitment, a joint venture Agreement (“JV”) with Investigator Resources Limited, operating as Fram under the Heads of Agreement, has been formalised for the Molyhil and Bonya (EL29701 only) Projects.
JV formed with IVR completing by spending $1,000,000 on the tenements (Stage 1 commitment) and the transfer of 25% interest in the Molyhil tenements and the sale of Thor’s 40% interest in Bonya tenement. The initial interest for the parties is 25% Fram and 75% Moly
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Summary:
The Molyhil Tungsten Project is a W-Mo deposit that is hosted predominantly within a Fe-enriched altered magnetite skarn that overprints meta-carbonate units of the Deep Bore metamorphic sequence at the contact of a large intrusion of peraluminous monzogranite, Marshall granite.
The Molyhil area is amongst a range of west-northwest trending 10-100km crustal scale shear zones, including the Delny Shear zone, which have caused widespread structural adjustment of geology in the area. A number of smaller faults are believed to have been activated and reactivated over the long tectno-thermal cycle of these regional shear and fault zones from 1.79 -1.70 Ga.
The Molyhil deposit consists of two adjacent outcropping iron rich skarn bodies, enclosed in granite, that contain powellite, scheelite and molybdenite mineralisation. The bodies are arranged in an en- echelon manner, the northeast body being named the Yacht Club Lode and the southwest body the Southern Lode.
Molyhil is comprised of two north-south trending, magnetite altered, mineralised zones that plunge 65° to the south and dip steeply to the east. The larger Southern Lode (approx. 55m x 65m x 360m (width x length x depth), to a vertical depth of approx. 320m) and smaller Yacht Club Lode (approx. 55m x 60m x 250m (width x length x depth), to a vertical depth of 200m) are separated by foliated, compositionally layered paragneiss and meta-carbonate rocks of the Deep Bore Metamorphic sequence.
The deposit comprises of massive and disseminated Scheelite (CaWO4), Powellite (CaMoO4), Molybdenite (MoS2) together with magnetite. Mineralisation is layer parallel and occurs primarily within horizons of the cackleberry meta-carbonate that has been altered to diopside skarn at contacts with the Marshall Granite.
The mineralised meta-carbonate exoskarn alteration comprises predominantly of garnet-scapolite-diopside- hedenbergite whilst the endo skarn granite consists of microcline-actinolite-diopsidequartz-calcite- biotite.
The deposit has a number of crosscutting structures that have offset some mineralisation including the Yacht Club Fault, a dextral fault trending east-southeast. This fault offsets and slightly rotates the Yacht club and southern orebodies which are believed to be fault displaced sections of a singular mineralised body. This faulting is typically associated with possible Neoproterozoic stage carbonate- fluorite-barite veining that crosscuts mineralisation and granite alike.
Mineralisation is coarse-grained and its distribution is irregular. Two broad lithological variations are present within each of the two main skarns:
- “Black rock skarn”: Mineralised (which, historically, was selectively mined on the basis of its colour) a calc-silicate containing a high proportion of magnetite, pyrite, and iron-rich minerals such as andradite-garnet, actinolite, and ferro-amphibole. This unit is irregularly mineralised with scheelite, molybdenite, and chalcopyrite. The mineralisation is, in general, both coarsegrained and heterogeneous. Decimetre wide bands rich in molybdenite and/or scheelite are separated by metre scale bands of barren/low grade black rock skarn.
- Unmineralised (little to no Fe/W/Mo/Cu) skarn: a pale green calc-silicate rock containing diopsidic pyroxene and garnet.
Dimensions
The Molyhil resource area extends over a combined strike length of 300m from 19,850mN to 20,150mN, a plan width of 250m from 9,950mE to 10,200mE and includes the vertical extent of 290m from 410mRL (surface) to 100mRL.