The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) are pleased to announce a maiden Mineral Resource Estimate of 177,000 tonnes of contained copper and 71,500 ounces of contained gold at its Alford East copper-gold project, located on the Yorke Peninsula, South Australia.
- Maiden Mineral Resource Estimate completed on the Alford-East Project (reported in accordance with JORC Code 2012) including Netherleigh Park, Liaway and Alford East prospects
- An Inferred Mineral Resource Estimate of 125.6 Mt at 0.14% Cu for 177,000 tonnes of contained copper & 71,500 ounces of contained gold
- The resource estimate includes only oxide copper-gold mineralisation considered amenable to In Situ Recovery (ISR) techniques, and identical cut-off grades being used at operating ISR Copper projects such as Excelsior’s Gunnison project in Arizona, USA
- There is clear potential for resources growth, along strike and at depth
- The Alford East Project covers the northern extension of Alford Copper Belt, where to the south-west, EnviroCopper Ltd has reported an Inferred Mineral Resource of 66.1Mt @ 0.17% Cu for three deposits; Wombat, Bruce and Larwood (THR:ASX Announcement 15 August 2019).
Alford East Mineral Resource Estimate
Table A: Alford East Mineral Resource Estimate by JORC (2012) classification as at 22 January 2021, reported for oxide material only, at a cut-off grade of 0.05% Copper which is consistent with the assumed In Situ Recovery technique.
• Figures are rounded to reflect appropriate level of confidence. Apparent differences may occur due to rounding.
• Cut-off of 0.05% Cu
• Thor earning up to 80% interest in Alford East Copper-Gold Project
ALFORD COPPER PROJECTS
A new partnership between Thor Energy and Fleet Space Technologies will accelerate mineral exploration using Fleet’s EXOSHERE BY FLEET® technology
A REE review has revealed that eight out of nine of the 2021 diamond drill holes intersected wide zones of highly enriched REE’s in Kaolin altered, copper rich oxide zones of IOCG style mineralisation.