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Initial Copper Resource Estimate - Moonta Project
Initial Copper Resource Estimate - Moonta Project.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1541J Thor Mining PLC 15 August 2019 \n\n15 August 2019\n \nTHOR MINING PLC\nSUBSTANTIAL INITIAL COPPER RESOURCE - MOONTA PROJECT\nINFERRED ISR COPPER RESOURCE OF 114,000 TONNES CONTAINED COPPER\nThe Board of Thor Mining Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR), is pleased to announce an initial Mineral Resource Estimate (MRE) containing 114,000 tonnes of copper, considered amenable to In Situ Recovery techniques (\"In Situ Recovery\" or \"ISR\"), released 15 August 2019 by EnviroCopper Ltd. (\"ECL\").\nThor, as announced on 5 March 2019, is acquiring up to a 30% interest in EnviroCopper, which in turn is earning from Andromeda Metals Limited (ASX: ADN) up to a 75% interest in the mineral rights and claims over the northern portion of the Moonta exploration licence area (EL5984) in South Australia. \nEnviroCopper Ltd are also earning, from Terramin Australia Limited (ASX:TZN), up to a 75% interest in the mineral rights and claims over the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery techniques\nSubject to full earn in Thor would therefore hold an effective 22.5% interest in each of the Moonta and Kapunda copper projects.\nHighlights include;\n· An Inferred Resource estimate of 66.1 million tonnes (MT) grading 0.17% copper (Cu), containing 114,000 tonnes of contained copper, at a cutoff grade of 0.05%Cu;\n· At a higher cutoff grade of 0.1% Cu the resource stands at 35.4 MT grading 0.26% copper (Cu), containing 93,000 tonnes of contained copper;\n· The EnviroCopper managed resource inventory when included with the Mineral Resource Estimate for the Kapunda Copper Project, now stands at 233,000 tonnes of copper;\n· The resource estimate is considered preliminary, with an additional 308 drill holes over Wombat, Bruce, and Larwood deposits to be included in the resource modelling once scheduled quality assurance processes are complete;\n· ISR processes are not burdened by the normally high capital and operating cost activities of mining, crushing, grinding, and often flotation associated with conventional mining and processing operations. Subject to testwork and feasibility study outcomes at Moonta, there is therefore an expectation that copper pro...