Thor Mining PLC (LON:THR) (ASX:THR) has revealed additional positive results from the initial hydrogeological drilling program at the Kapunda ISR (Insitu Recovery) copper project in South Australia, carried out by EnviroCopper Limited.
The group said the hydrogeological testing program was successful, with the tracer test showing fluid movement from well to well in a relatively short time period, providing the potential for cost-saving through reducing the number of wells for optimum production.
It noted that laboratory assays confirm previously reported portable XRF results along with some elevated gold levels.
Thor Mining also said that groundwater at the project is acidic (pH 3.8 - 4.0) with naturally elevated copper levels, indicating potentially lower expected pre-conditioning operating costs, and demonstrating that the copper is highly soluble.
It added that laboratory testing to date shows several lixiviant systems suit the naturally low pH environment, minimising likely impact on environment & microorganisms, and initial laboratory scale metal recovery tests - Ion Exchange, Electro Winning and Cementation - all produce copper.
In a statement, Mick Billing, executive chairman of Thor Mining, commented: "Very solid progress being made by EnviroCopper at the Kapunda copper ISR project, continuing to confirm the potential for production of copper using ISR, against a background of rising copper prices".
"There is a very busy schedule of activities during the second half of calendar 2020 with potential to add significant investor value via gold focussed drilling, and more field test activities to further demonstrate the potential for economic ISR production at Kapunda."
He added: "Some zones within the Kapunda deposit have previously been reported to host highly promising gold values, including 95metres @ 3.06g/t, and we look forward to the drill program to confirm and extend these."
EnviroCopper Limited via its subsidiary Environmental Copper Recovery Pty Ltd, holds an agreement to earn, in two stages, up to 75% of the rights over metals which may be recovered via in-situ recovery contained in the Kapunda deposit, from Australian listed company, Terramin Australia Limited.
Thor Mining holds a 25% interest in EnviroCopper Limited with rights to increase that interest to 30%.