leadf
logo-loader
viewThor Mining PLC

Thor Mining reveals additional positive results from initial hydrogeological drilling program at the Kapunda ISR copper project

The testing was carried out by EnviroCopper Limited which via a subsidiary holds an earn-in agreement over metals which may be recovered via in-situ recovery from the Kapunda deposit

Thor Mining PLC -
Thor Mining holds a 25% interest in EnviroCopper Limited with rights to increase that interest to 30%

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.

READ: Thor Mining reveals new high grade vanadium and uranium assays from Colorado and Utah

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%.

Quick facts: Thor Mining PLC

Price: 0.878 GBX

AIM:THR
Market: AIM
Market Cap: £11.55 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Thor Mining PLC named herein, including the promotion by the Company of Thor Mining PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Thor Mining raises over £1m to fund exploration at the Ragged Range gold and...

Thor Mining PLC's (LON:THR) Mick Billing talks to Proactive London's Katie Pilbeam about the company's £1m raising. The money will be mostly used to fund exploration at the Ragged Range gold and nickel project in the Pilbara region of Western Australia. Thor's largest shareholder Metal...

2 weeks ago

2 min read