Thor Mining PLC (LON:THR)(ASX:THR) has announced the successful recovery of gold from samples taken from the Kapunda copper in-situ recovery project in South Australia.
The results are from research activities on Kapunda undertaken by the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Kapunda is owned by Environmental Copper Recovery Pty Ltd, in which Thor is acquiring a 60% interest.
The recovery of the gold from samples demonstrates proof of concept for the idea of leaching metal out of the rock in situ.
Thor chief executive Mick Billing called the news “a very significant project enhancement."
He added: "there is not sufficient drilling assay information to allow a gold resource to be added to the previously published copper resource, however, the information we have suggests the presence of gold relatively evenly across much of the Kapunda deposit."
"The directors of ECR and the directors of Thor are reviewing options in light of this new and potentially strategically critical information, and will provide further updates in the near term"