Thor Mining PLC (LON:THR) is to receive A$300,000 from the South Australian government to help develop the Alford East Copper-Gold project.
Alford East was one of 22 projects selected for funding under Round 2 of the State's Accelerated Discovery Initiative (ADI).
The money will be used for Proof-of-Concept work for In situ recovery (ISR), including resource drilling, hydrometallurgical and environmental studies while diamond drilling is scheduled to start later this month.
Nicole Galloway Warland, Thor’s managing director said: "This is a fabulous result for Thor and its shareholders as it validates the high-quality Alford East Project.
“The successful grant is a strong endorsement of the technical merits of the project by the South Australian Government."
Alford East Copper-Gold Project is located on licence EL6529, where Thor can earn up to an 80% interest from unlisted Australian explorer Spencer Metals.