INVESTOR UPDATE

Copper Recoveries Advance In-Situ Recovery Assessment at Alford East Copper-REE Project

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Thor Energy Plc (AIM, ASX: THR, OTCQB: THORF) is pleased to announce positive metallurgical copper recovery results, advancing Thor’s In-Situ recovery (“ISR”) assessment of the Alford East Copper-REE Project, South Australia.

Highlights

▪ Copper recoveries of up to 72.2% using a benign environmentally friendly glycine lixiviant – GlyLeach™. This is an excellent result for ISR-style copper recovery.

▪ Four mini-column leach tests (“MCLT’s”) were conducted to give an accurate determination of the leaching performance and the recovery of copper from drill core samples from 21AEDD005, Alford East with actual copper recovered shown in Photo 1.

▪ Alford East’s saline groundwater was used in column testing to replicate potential ISR conditions and provide a more accurate leaching performance. The groundwater had no significant impact on recoveries.

The successful completion of the hydrometallurgical mini-column tests; returning favourable copper recoveries of up to 72.2% are above the standard range of 60-70% for an ISR operation. These results are highly encouraging, as Thor advances the ISR assessment of the Alford East Copper-REE-Gold Project.

As part of Thor’s commitment to sustainable exploration activities, we are pleased to be using Glyleach™ as a lixiviant during the ISR process. Compared to the conventional sulphuric acid that is often used, Glyleach™ is an economical and environmentally friendly alternative, helping Thor to develop a low-cost, low-environmental footprint ISR copper operation.

Thor continues to work with Fleet Space Technologies to merge the Ambient Noise Tomography (“ANT”) 3D model with Thor’s 3D geological model. The resultant 3D model highlights low-velocity drill targets, which potentially represent higher grade copper-REE-Gold targets, associated with deep structurally controlled troughs. As part of a future drilling program, Thor will be including additional water bores for pump testing, and push/pull test work as it continues to advance ISR assessment at Alford East towards in-ground lixiviant trials (Site Environmental Lixiviant Trials). These are currently underway at EnviroCopper’s Kapunda Project, in which Thor holds 30% equity. We look forward to updating the market with further developments.

NEXT STEPS

  1. Modelling of ANT results incorporating Thor’s 3D model and using artificial intelligence to extrapolate controlling structures along the Alford Copper Belt – in progress 
  2. Target generation from the final 3D Model 
  3. Drill preparations and drilling 
  4. REE samples to be submitted to ANSTO for recovery potential from kaolin clays. 
  5. Pump testing and preparations for push/pull connectivity testing, followed by Site Environmental Lixiviant Trial 
Read the full ASX release

WATCH: Learn more about how ISR works.

WATCH: Site Environmental Lixiviant Trials are currently underway at the Kapunda Copper ISR Project in South Australia. EnviroCopper’s Leon Faulkner took a moment to explain the aims of the test work. 

Private Australian company EnviroCopper Limited is earning up to a 75% equity interest in the Kapunda Copper Project. Thor Energy holds a 30% equity interest in EnviroCopper Limited.

ABOUT THE

ALFORD COPPER PROJECTS

Thor Mining has an interest in several projects in the copper belt near Alford on the Yorke Peninsula in South Australia and further to the east at Kapunda.

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NEWS

SAEMC – Investor Presentation (December 2023)

Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation titled “Alford East: Accelerating Exploration with Fleet Space Technologies”, delivered by MD Nicole Galloway Warland, at the Annual General Meeting on the 29th of November 2023.

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