23rd Apr 2019 12:10
LONDON (Alliance News) - Thor Mining PLC said on Tuesday that mining consultancy Mining Plus has been commissioned to prepare a mineral resource estimate for several deposits on the Moonta copper project in Australia.
Thor Mining was advised of this by Enviro Copper Ltd, a new company that is earning up to a 75% interest in the Moonta project. In a memorandum of understanding signed in March, Thor Mining is to hold a 30% equity in Enviro Copper before it lists on a securities exchange later in 2019.
"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," said Thor Executive Chairman Mick Billing.
"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 method," Billing added.
Shares in Thor Mining were up 6.0% at 0.795 pence on Tuesday.
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