Thor Energy Plc · LSE:THR
Thor Energy — Thor Mining — AusIMM Technical Lunch, Adelaide (October 2021)
24 slides from Thor Energy's conference presentation, Oct 25, 2021
Slide 1: Alford East Copper Gold Project
For personal use only Alford East Copper Gold Project AusIMM Technical Lunch, Adelaide 21 October 2021 • AIM/ASX: THR • OTCQB: THORF Nicole Galloway Warland, Managing Director
Slide 2: Disclaimer, Legal Notice & Competent Person
This document and all other information (whether in writing or otherwise) which may be made available is: 1. Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purpose. For personal use only
Slide 3: Global Electric Vehicles – Copper Demand and Environment
Global Electric Vehicles – 2010-2020 For personal use only Environment World is transitioning to low carbon economy ESG Low emission goals Environment Copper Global Demand growing Key Fuel Trends – Stated Polices Scenario ▪ Electronics ▪ Electric vehicles ▪ Renewable energy Thor Mining Aiming to be
Slide 4: Projects
Projects ▪ Alford East – JV Farm-in earning 80% direct interest For personal use only ▪ EnviroCopper Limited (ECL) – Thor hold 30% Equity Interest • Kapunda – ECL earning a 75% interest • Alford West – ECL earning a 75% interest Copper in SA Geology ▪ Substantial near surface oxidised copper mineral
Slide 5: In-Situ Recovery Copper-Gold
▪ ESG – Favourable alternative to Traditional mining ▪ Low cost / low environmental impact metal For personal use only production ▪ A chemical process rather than a high-cost mining operation (No large pit / no crushing or grinding / no waste dumps etc) In-Situ ▪ ECL - Substantial Australian governm
Slide 6: Project assessment and stakeholders
The Alford-East Copper-Gold Project is investigating/assessing the geological, environmental, social and economic impacts of In-Situ Recovery (ISR) at Alford East, to unlock the significant mineral value of this oxide copper-gold mineral resource for SA. For personal use only Project Level ▪ Landhol
Slide 7: ISR Video
For personal use only ISR Video AIM/ASX: THR OTCQB: THORF 7
Slide 8: Diverse Portfolio
Diverse Portfolio Copper – Australia (Three Projects) For personal use only ▪ Technical Feasibility Stage ▪ Direct & Indirect Interest –Alford East, Alford West & Kapunda ▪ Resource Extension Potential Thor Mining Gold - Australia ▪ Greenfields Exploration, Pilbara WA Uranium and Vanadium - USA ▪ Br
Slide 9: Alford East Location and Geology
Location ▪ Approx. 150km north-west of Adelaide, South Australia For personal use only ▪ Adjacent Envirocopper Ltd Alford West Project Geology ▪ Substantial near surface oxidised copper Alford East mineralisation, transitioning at depth to readily leachable chalcocite then primary chalcopyrite Coppe
Slide 10: Geology
Geology Location For personal use only ▪ Gawler Craton ▪ Metamorphosed Palaeoproterozoic Wallaroo Group sediments and volcanics intruded by Tickera granitoids, syntectonically emplaced during Hiltaba event ▪ Cambrian and Tertiary cover <10m in depth ▪ Substantial near surface oxidised copper mineral
Slide 11: Alford West Deeply Weathered Trough
For personal use only Alford West Deeply Weathered Trough Source: http://saemc.com.au/archive/2017/17drown.pdf ▪ Coherent zone of potentially ISR amenable copper and gold mineralisation in deeply weathered metasediments ▪ Initial modelling of the historic drillhole data shows deeper depressions and
Slide 12: Significant Contained Copper with Growth Potential
Significant Contained Copper with Growth Potential For personal use only ▪ Inferred Mineral Resource Estimated based solely on historic drilling (1982-2015) ▪ Significant Growth Potential – along strike and at depth Inferred Mineral Resource Estimate for the Alford East Project – 22nd January 2021 –
Slide 13: MRE Growth Potential
MRE Growth Potential For personal use only AIM/ASX: THR OTCQB: THORF 13
Slide 14: Broad High-Grade Results
Broad High-Grade Results ▪ BROAD HIGH-GRADE COPPER-GOLD RESULTS – IDEAL FOR ISR For personal use only ▪ Diamond drilling Phase 1 Completed (ASX:THR 31 August 2021) ▪ 21AED005: 72.7m @ 1.0 % Cu and 0.19g/t Au from 6.3m, including 18.2m @ 2.0% Cu and 0.34g/t Au ▪ 21AED001: 32.9m @ 0.4% Cu and 0.31g/t
Slide 15: MRE Growth Potential
MRE Growth Potential Mineralisation extends to the north beyond For personal use only 21AED002: 59.9m @ 0.3% Cu from 21.9m (ASX:THR 31 August 2021) MRE AE-5 Domain Further drilling Scheduled Early 2022 envelope AE-5 Domain Cross-Section 6,256,360mN looking NNE AIM/ASX: THR OTCQB: THORF 15
Slide 16: Oxide weathered zone – saprolite
Oxide weathered zone –saprolite ▪ Upper Zone (supergene) ▪ Lower zone (oxide IOCG Primary –with For personal use only gold) ▪ Copper: predominately malachite and chalcocite with minor atacamite and native copper, transitioning into chalcopyrite Oxide Zone - Saprolite Log for 21AED001 Log for 21AED00
Slide 17: Hydrogeology – Aquifer Pump Test
▪ 21AED001 = Water Bore (AE-5 Domain) ▪ The copper mineralisation at the test site is saturated For personal use only ▪ The water table elevation is approximately 38m AHD. At the test site this equates to a depth to water of 12 m below ground surface. ▪ Salinity (TDS) of ~20,000 mg/L. Hydrogeology-
Slide 18: Hydrogeology – Lixiviant Trial
For personal use only Stage 1: Baseline Data Push Pull Test Layout Observation Well ▪ Aquifer Seasonal Pumping tests = water levels and quality. 3 monthly Oxidised weathered zone- ▪ More information required on hydraulic saprolite Hydrogeology- gradients and groundwater flow paths. 5m spacing Lixivi
Slide 19: Hydrogeology – Lixiviant Circulation
For personal use only Stage 2b: Lixiviant Trial – Circulation Test Circulation Trial Layout Observation Well ▪ Install Well Array Oxidised ▪ Lixiviant Circulation weathered zone- saprolite Hydrogeology- ▪ Construct flow control system (well Injection Well house) 5m spacing Lixiviant Extraction Well
Slide 20: Lixiviant – Choice to suit ground water conditions
Lixiviant – Choice lixiviant to suit ground water conditions For personal use only Alford East – pH 8.1 (alkaline) PH Example – Methane Sulphonic Example – thiosulfate Example – Glycine acid ▪ Copper and gold ▪ Naturally occurring Amino Acid ▪ MSA: Readily extraction ▪ Copper, Silver, Nickel, Cobalt
Slide 21: Hydrometallurgy
▪ Lixiviant trials -21AED001 For personal use only ▪ 3 trials underway ▪ Upper Zone (supergene) ▪ Lower zone (oxide IOCG Hydrometallurgy Primary –with gold) ▪ And blended (Upper & Lower) Upper Zone: 25.3m @ 0.11% Cu from 6.2m Lower Zone: 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5 m AIM/ASX: THR OTCQB:
Slide 22: Glycine Trials – GlyLeach
Glycine Trials –GlyLeachTM For personal use only ▪ Glycine: simple amino acid ▪ Environment: non toxic ▪ Selective: solubilise Cu, Ni, Co, Zn (Au) whilst Fe, Mn silicates and carbonates remain in solid phase ▪ PH: Alkaline leaching conditions ▪ Low consumption: non volatile ▪ Recycle: not chemically
Slide 23: Clear Pathway to Development & Production
Clear Pathway to Development & Production For personal use only Proof of concept 2021 2022 2023 Continuous Stakeholder and Community Engagement Resource Drilling & Pump Testing Site Environmental Lixiviant Test Feasibility Study & Development ▪ Resource drilling & Decision Decision Decision geologic
Slide 24: Contact
For personal use only Nicole Galloway Warland Managing Director M:+61 417 006 431 For further nicole@thormining.com information www.thormining.com Adelaide Office 58 Galway Ave, Marleston SA 5033 P: +61 8 7324 1935 Twitter: @ThorMining AIM/ASX: THR OTCQB: THORF 24
Thor Mining — AusIMM Technical Lunch, Adelaide (October 2021) on 6ix