07:00 Mon 19 Mar 2018
Thor Mining PLC - COPPER RESOURCE - KAPUNDA PROJECT, SOUTH AUSTRALIA
COPPER RESOURCE - KAPUNDA PROJECT,
HIGHER GRADE CORE INFORMATION
The Board of
Thor has the right to earn up to an effective interest of 45% in that part of the Kapunda project that is considered amenable to ISR.
The Company is pleased to advise of a Central high grade core, or zone, of mineralisation, contained within the previously announced Resource boundaries, of 29.0 million tonnes, @ 0.32% copper containing 91,200 tonnes of copper.
Grade tonnage curves (Figure 1) indicate the quantity of estimated contained metal at various cut-off grades for both this high grade portion, and the broader resource announced on
http://www.rns-pdf.londonstockexchange.com/rns/0645I_-2018-3-18.pdf
"The results of this analysis reinforce the very strong potential of the Kapunda deposit. This higher grade core at Kapunda is very robust, while still hosting approximately 75% of the total 119,000 tonnes of copper in the estimated Resource.
"We recognise that In Situ Recovery as a process is not necessarily a familiar area for many investors and the grades published may appear low when compared to traditionally mined copper deposits."
"However, from the standpoint of extractive metallurgy, the grades identified are ideal for In Situ leaching and the significant size of deposit outlined to date means this project has considerable potential and needs moving forward through the next stages of the development pathway."
"We are therefore extremely pleased with the results announced today and we look forward to reporting further progress through market announcements which chart the next steps in respect of project development."
http://www.rns-pdf.londonstockexchange.com/rns/0645I_-2018-3-18.pdf
Participants in the project,
For detail of the Insitu Recovery process, investors are invited to view the ECR website https://www.envirocopper.com.au/ .
Table A: Kapunda Copper ISR Resource Estimate
Zone |
Mt |
Copper (%) |
Copper tonnes |
|
29.0 |
0.32 |
91,200 |
|
18.4 |
0.16 |
27,800 |
Total Resource |
47.4 |
0.25 |
119,000 |
Notes:
· Resource classified as Inferred.
· Figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
· ECR are earning a 75% interest in this resource, and Thor have investment rights for up to 60% of ECR.
· Cut off grade used of 0.05% Cu
· The Company is not aware of any information or data which would materially affect this previously announced Resource estimate, and all assumptions and technical parameters relevant to the estimate remain unchanged
Enquiries:
|
+61 (8) 7324 1935 |
|
Executive Chairman |
|
+61 (8) 7324 1935
|
|
CFO/Company Secretary |
|
+44 (0) 207 383 5100
|
|
Nominated Adviser |
|
+44 (0) 1483 413 500 |
|
Broker |
|
+44 (0) 207 138 3222 |
Blytheweigh |
Financial PR |
Competent Person's Report
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
About
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Notes
· ¹ Refer ASX and AIM announcement of 12 January 2015
· ² Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017
· ³ Refer AIM announcement of
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