2nd Apr 2019 12:37
LONDON (Alliance News) - Thor Mining PLC said Tuesday it has successfully recovered gold from historic drilling samples of the Kapunda copper in situ recovery project in south Australia.
The recovery demonstrates proof of concept, said Thor. The results came from research activities funded by the Australian government.
The project is owned by Environmental Copper Recovery Pty Ltd - which Thor is acquiring a 60% interest in, based on potential developments.
Limited gold assays have been conducted on the historic drilling, said Thor, but further test work is planned to quantify the commercial viability of Kapunda.
The results from 28 surface and drill core samples range from about 0.93 to 8.58 grams per tonne of gold.
"This is an unexpected bonus for the Kapunda project, and potentially a very significant project enhancement," said Executive Chair Mick Billing. "There is not sufficient drilling assay information to allow a gold resource to be added to the previously published copper resource, however the information we have suggests the presence of gold relatively evenly across much of the Kapunda deposit."
Shares in Thor Mining were up 2.9% on Tuesday at 0.77 pence each.
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