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Resource Estimate Commissioned - Moonta Copper
Resource Estimate Commissioned - Moonta Copper.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7598W Thor Mining PLC 23 April 2019 \n\n23 April 2019\n \nRESOURCE ESTIMATE COMMISSIONED - MOONTA COPPER PROJECT\nThe Board of Thor Mining Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR), is pleased to announce it has been advised by Enviro Copper Limited (\"Enviro Copper\") of commencement of resource estimation work for several of the deposits at the Moonta Copper Project in South Australia.\nEnviro Copper Ltd, via its subsidiary Environmental Metals Recovery Pty Ltd (EMR) is earning up to a 75% interest in the Moonta Copper project from Andromeda Metals Ltd (ASX: \"ADN\").\n \nHighlights:\n· Mining consultancy, Mining Plus engaged to prepare a Mineral Resource Estimate on several of the deposits at the Moonta Copper Project considered amenable to Insitu Recovery (ISR);\n· Numerous drill holes into some Moonta deposits over several decades, provide basis for resource estimation;\n· Thor Mining PLC to hold up to 30% equity in Enviro Copper prior to listing activities, potentially scheduled for later in 2019;\n \nMick Billing, Executive Chairman, commented: \n\"This is a very exciting development in our copper strategy, to develop a potentially large ISR focussed copper business, initially in Australia.\"\n\"The non-invasive production technique of In-situ Recovery of copper has the potential to co-exist without significant disruption to farming and once completed, have little to no impact on future agricultural land use. ISR is an extension of proven technology and has been in use since the 1960's. With recent technical advances ISR can now offer a lower footprint and is likely to find further application in mineral recovery fields because it can coexist with other land use activities.\"\n\"The Moonta project, hosts oxide copper minerals and some secondary sulphide copper minerals in deep weathered troughs, indicating early stage potential for copper production via ISR methods.\"\n \nA map showing the location of the Moonta project may be accessed from the Thor website via the following link:\nhttp://thormining.com/-/thor/lib/images/maps/Kapunda%20Moonta.jpg\n \nFurther Information\nA Memorandum of Understanding (MOU) announced 5 March 2019, subject to a 90 day due diligence period, was executed between Thor Mining, Environm...