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(Alliance News) - Thor Mining PLC reported on Tuesday "positive" early results from drilling at the Kapunda copper project in South Australia.
Thor drilled three holes at Kapunda and also carried out hydro-geological investigations into issues such as water levels, electrical conductivity, groundwater geochemistry, and flow rates.
London-based Thor said the pilot hole found 66 metres at 0.27% copper, while the other holes included 23 metres at 0.49% copper and six metres at 0.47% copper.
The company said the water table is "quite shallow", and the fracture zone contains "significant" copper mineralisation which should allow in-situ recovery of the resources found in each hole.
"It is very exciting to have confirmation of both consistency of mineralisation and possible hydrogeological connectivity along strike in the facture zone. This adds considerable weight to the potential for a successful in-situ recovery operation in due course," commented Executive Chair Mick Billing.
"It is also pleasing to note the preliminary copper grades are above the average for the resource. We are very keen to have laboratory assays to confirm these, and also to provide any gold values, as gold is most unlikely to be picked up in portable x-ray fluorescence readings."
Billing continued: "These holes were drilled on the very southern tip of the main resource area, and previously conducted induced polarisation surveys further south show additional chargeable anomalies which should be investigated to see if they contain additional mineralisation, which could significantly extend the resource."
Shares were flat in London on Tuesday at a price of 0.24 pence each.
On Monday, Thor reported the finish of a second round of drilling at the Bonya project, located adjacent to its Molyhil project in Australia's Northern Territory.
By George Collard; georgecollard@alliancenews.com
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