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- Thor Mining (THR) intersects further copper and gold mineralisation at the Alford East Copper-Gold Project in South Australia
- Nine diamond holes were drilled at the project and results have been received for two holes, with grades peaking at 0.31 per cent copper and 1.02g/t gold
- Additionally, portable x-ray fluorescent analysis was undertaken and intersected up to 0.74 per cent copper
- The remaining drill core is currently being prepared for submission to the laboratory with all results expected in roughly four weeks
- Thor is up 7.14 per cent on the market with shares trading at 1.5 cents at 2:36 pm AEST
Thor Mining (THR) has intersected further copper and gold mineralisation at the Alford East Copper-Gold Project in South Australia.
The Alford East Project covers the northern extension of the Alford Copper Belt which is a semi-coherent zone of copper-gold oxide mineralisation.
Thor currently earns up to 80 per cent interest in the project from unlisted Australian explorer, Spencer Metals.
Nine diamond holes, for 878 metres, were drilled at the project and results have been received for the first two holes.
The drilling focussed only on the northern portion of Alford East, with Thor targeting areas open at depth and along strike.
Best results include 59.9 metres at 0.31 per cent copper from 21.9 metres; five metres at 0.5 per cent copper and 1.02 grams of gold per tonne (g/t) from 81.5 metres; and 32.9 metres at 0.4 per cent copper and 0.31g/t gold from 81.5 metres.
These results highlight grade uplift along the north-south trending controlling structure.
Additionally, portable x-ray fluorescent analysis was undertaken to collect copper readings every 0.5 metres.
A best result of 73 metres at 0.74 per cent copper from 6.3 metres was returned.
The remaining drill core is currently being prepared for submission to the laboratory with all results expected in roughly four weeks.
Managing Director Nicole Galloway Warland commented on the drilling program.
“The uplift in copper and especially gold grade, adjacent to what appears to be a controlling structure, is very exciting and beyond expectations, suggesting potential for an extended zone of higher-grade copper and gold along this structure,” Ms Warland said.
“These initial copper and gold grades, wide intercepts and increased depth of weathering are all very encouraging for in-situ recovery, the innovative mining technique that has minimal impact on the surrounding environment in contrast to conventional open cut mining.”
Thor was up 7.14 per cent on the market with shares trading at 1.5 cents at 2:36 pm AEST.