Thor Energy 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.
PROJECT NAMES:
LOCATION:
TARGET:
Alford East, Alford West, Kapunda
South Australia
Copper, Gold, Rare Earth Elements
Due to the specific setting and geology of these projects they are considered to be amenable to copper production via In Situ Recovery (ISR). This is an environmentally friendly and low-cost style of mining that involves rinsing the copper and gold ore of the rock using a series of wells. Along with partner EnviroCopper, Thor is currently on the cutting edge of this technique and conducting a number of studies to improve the processes used.
In July 2018, EnviroCopper received an Australian Research Grant for A$2.85M to advance investigations into the economics, environmental and social impacts of ISR.
The drilling program comprises three water bores for hydrogeological baseline assessment, and subsequent push-pull and tracer testing as part of the first phase of In-Situ Recovery (“ISR”) Site Environmental Lixiviant Trials.
The success of our first phase of drilling, with significant uplift in copper and gold grade adjacent to the Netherleigh Fault, is very exciting and suggests the potential for extended zones of higher-grade copper and gold along strike and at depth.
The current focus for Thor’s exploration team is the Alford East Copper-Gold Project in which Thor is earning up to an 80% interest. The project has been subject to substantial historical exploration as well as more recently diamond core drilling by Thor to test the extention of the known deposit.
A recent review revealed that eight out of nine of the 2021 diamond drill holes intersected shallow wide zones of highly enriched Rare Earth Elements (REE) in kaolin altered, copper rich oxide zones of IOCG style mineralisation. Sampling of historic drill core for REE is underway. Best intersections* include:
(*500ppm TREO cut-off)
Thor Energy holds a 30% equity interest in private Australian company EnviroCopper Limited. In turn EnviroCopper Limited is earning up to a 75% equity interest in the Kapunda Copper Project and the Alford West Belt Copper ISR Project.
EnviroCopper is earning up to a 75% interest in the Kapunda Copper Project. The project was the site of a historical copper mine and has been the subject of a significant amount of exploration, has given EnviroCopper and Thor confidence that the project is suitable for In Situ Recovery and to publish a calculation of an inferred copper resource estimate.
In addition to the copper resource estimate, there is substantial gold potential at Kapunda, with approximately one third of the historic drill holes successfully assayed for gold mineralisation.
The drilling program comprises three water bores for hydrogeological baseline assessment, and subsequent push-pull and tracer testing as part of the first phase of In-Situ Recovery (“ISR”) Site Environmental Lixiviant Trials.
With the addition of these funds the Company is now in a position to plan for the next phases of exploration at its’ USA and South Australian projects.
Thor Energy Plc is pleased to have been featured in the latest issue of Paydirt Magazine.
