Thor Energy’s updated 3D model for the Alford East In-Situ Recovery (ISR) copper-REE project in South Australia offers the potential to expand the economics of the project, says WH Ireland.
The new model delineates low-velocity zones, that correlate with observed zones of alteration and mineralisation - these extensions represent compelling exploration targets that, if drilled, could lead to an increased resource.
WHI added that Thor remains laser-focused on advancing its uranium project in the USA, though today’s update is positive for exploration targeting at Alford East.
Targets identified in the new model bring with them the potential to expand resources.
“There is also read across to Thor’s other ISR projects in South Australia – the use of ANT surveys at Alford West and Kapunda could enhance exploration targeting and reduce resource definition costs.”
Shares in Thor were unchanged at 1.45p.