Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) reported positive results from the first phase of drilling at the Alford East copper-gold project in Australia.
Drilling on the northern portion of the Alford East deposit intercepted higher copper and gold grades than found in the resource estimate which used historic drill hole information.
"The success of our first phase of drilling, with significant uplift in copper and gold grade, adjacent to the Netherleigh Fault, is very exciting and suggests the potential for extended zones of higher-grade copper and gold along strike and at depth,” said managing director Nicole Galloway Warland.
Significant results included 55.9 metres (m) at 0.53% copper, including 11.7m at 1.0% copper as well as 5.7m at 1.23% copper and 0.16 grammes a tonne (g/t) gold; and 72.7m at 1.0% copper and 0.19g/t gold, including 18.2m at 2.0% copper and 0.34g/t gold.
A second phase diamond drilling programme is being designed, including continuing hydrogeology and hydrometallurgical studies.
The company reported positive gold and copper recovery results from trials using an environmentally friendly glycine as the principal reagent.
“These favourable initial hydrometallurgical results for the metal recovery for both copper and gold using a socially and environmentally friendly solution 'glycine' rather than conventional acid in-situ recovery (ISR) is significant, as Thor strives towards the in-situ assessment of the Alford East project," said Galloway Warland.
Thor is earning up to 80% interest in the project from unlisted Australian explorer Spencer Metals Pty Ltd.