THE DRILL SERGEANT: Thor Mining (ASX: THR) has commenced a 2000 metres diamond drilling program at the company’s Alford East copper-gold project in South Australia.
Thor Mining explained the drilling program will focus on depth extension and structural delineation of the northern mineralised domains of the Alford East copper-gold deposit.
The Alford East copper-gold project is located on EL6529, where Thor is earning up to 80 per cent interest from unlisted Australian explorer Spencer Metals Pty Ltd, covering portions of EL6255 and EL6529.
“Thor is excited about commencing its maiden drilling program at Alford East, where our geology teams’ new geological model strongly indicates new weathering boundaries opening up copper oxide mineralisation potential at depth and along strike,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.
“At a time when the copper price is at decade highs, Thor is fast tracking the exploration and development of the Alford East copper project.”
Based on historic drillhole information, Thor completed an inferred Mineral Resource Estimate (MRE) of 125.6 million tonnes at 0.14 per cent copper containing 177,000 tonnes of contained copper and 71, 500 ounces of contained gold.
The company said the MRE demonstrates the initial size of the oxide copper-gold opportunity with potential to grow the MRE along strike and at depth.