THE DRILL SERGEANT: Thor Mining (ASX: THR) reported follow-up copper and gold intercepts from a recently completed initial diamond drilling program at the company’s Alford East copper-gold project in South Australia.
Nine diamond drillholes have been completed to date, with assays received for three drillholes – 21AED001, 21AED002, and now 21AED005.
Latest news from the lab returned an exceptional high-grade copper intercept over a wide interval of:
72.7m at 1.0 per cent copper and 0.19 grams per tonne gold from 6.3m, including 18.2m at 2 per cent copper and 0.34g/t gold from 15.8m.
This follows-on from assays announced last week by Thor of other copper-gold intercepts including:
32.9m at 0.4 per cent copper and 0.31g/t gold from 81.5m, and 5m at 0.5 per cent copper and 1.02g/t gold from 102m; and
59.9m at 0.31 per cent copper from 21.9m.
“The newly discovered broad zone of high copper and gold grades from near surface in 21AED005, combined with the significant intercepts in 21AED001 and 21AED002 takes this oxide mineralised system to a new level, reporting values well above the Mineral Resource Estimate grades,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.
“The confirmed uplift in copper and gold grades along the controlling NNE structure continues to excite and exceed Thor’s expectations.
“We look forward to testing this structure in areas open along strike, to the north and south.
“Pump testing scheduled for start of September will further advance the In-Situ Recovery (ISR) ‘proof of concept’ hydrometallurgical assessment.
“Exciting times ahead as we await final assay results from this drilling campaign and commence the ISR for copper and gold baseline studies.”
The Alford East Copper-Gold Project is located on EL6529, where Thor is earning up to 80 per cdent interest from unlisted Australian explorer Spencer Metals Pty Ltd, covering portions of EL6255 and EL6529.
The Alford East project covers the northern extension of the Alford Copper Belt, located on the Yorke Peninsula.
The Alford Copper Belt is a semi coherent zone of copper-gold oxide mineralisation, within a structurally controlled, north-south corridor consisting of deeply kaolinised and oxidised troughs within metamorphic units on the edge of the Tickera Granite of the Gawler Craton.
Thor completed an inferred Mineral Resource Estimate (MRE) in January 2021 from historic drill hole information 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.
TO READ THE PREVIOUS ANNOUNCEMENT: CLICK HERE