Thor Energy Share News (THR)

(Sharecast News) - Resources company Thor Mining reported positive preliminary results from initial drilling work at its Kapunda copper project in Australia.
Thor said a total of three holes were drilled on the southern tip of the main resource area at Kapunda, with two screened wells also installed in order to carry out its tests.

Portable X-Ray Fluorescence testing, carried out by EnviroCopper, encountered 66 metres at 0.27% copper in the pilot hole, including five metres at 0.72% and 11 metres at 0.54%.

The AIM-listed group said its next stage of the work included large-scale column leach recovery tests leading on to a full-scale field trial.

Chairman Mick Billing said: "It is very exciting to have confirmation of both consistency of mineralisation and possible hydrogeological connectivity along strike in the fracture zone.

"This adds considerable weight to the potential for a successful ISR operation in due course."

Thor also reached an agreement with carried out by EnviroCopper that will see its subsidiary Environmental Copper Recovery earn, in two stages, up to 75% of the rights over any metals recovered from Kapunda via in-situ recovery.

As of 0855 GMT, Thor Mining shares were up 7.66% at 0.25p.