(Alliance News) - Thor Mining PLC said Wednesday that EnviroCopper Ltd, has entered into an agreement to earn up to 75% of the rights over metals which may be recovered in the Kapunda project in Australia.
Thor holds a 25% interest in EnviroCopper Ltd with rights to increase that interest to 30%.
The company said EnviroCopper, via subsidiary Environmental Copper Recovery Pty Ltd, has entered into an agreement with Australian-listed company, Terramin Australia Ltd to earn, in two stages, up to 75% of the rights over metals which may be recovered via in-situ recovery contained in the Kapunda deposit.
Thor Executive Chair Mick Billing said: "The momentum behind the Kapunda project continues to develop, particularly as its emerging gold potential is recognized."
"We look forward to assays from the recent program of drilling and pump testing at Kapunda to add further weight to the story," Billing said.
Thor Mining shares were down 3.2% in London at 0.45 pence each on Wednesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Thor Energy (THR)