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Thor Mining update on Moonta Copper Project

Mining News - Published on Thu, 25 Apr 2019

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The Board of Thor Mining Pic announced that it has been advised by Enviro Copper Limited of commencement of resource estimation work for several of the deposits at the Moonta Copper Project. Mr Mick Billing, Executive Chairman, said "This is a very exciting development in our copper strategy, to develop a potentially large ISR focussed copper business, initially in Australia. The non-invasive production technique of In-situ Recovery of copper has the potential to co-exist without significant disruption to farming and once completed, have little to no impact on future agricultural land use. ISR is an extension of proven technology and has been in use since the 1960's. With recent technical advances ISR can now offer a lower footprint and is likely to find further application in mineral recovery fields because it can coexist with other land use activities. "The Moonta project, hosts oxide copper minerals and some secondary sulphide copper minerals in deep weathered troughs, indicating early stage potential for copper production via ISR methods."


Highlights

Mining consultancy, Mining Plus engaged to prepare a Mineral Resource Estimate on several of the deposits at the Moonta Copper Project considered amenable to Insitu Recovery (ISR);

Numerous drill holes into some Moonta deposits over several decades, provide basis for resource estimation;

Thor Mining PLC to hold up to 30% equity in Enviro Copper prior to listing activities potentially scheduled for later in 2019;

Enviro Copper Ltd, via its subsidiary Environmental Metals Recovery Pty Ltd is earning up to a 75% interest in the Moonta Copper project from Andromeda Metals Ltd.

Source :

Posted By : Sanju Moirangthem on Thu, 25 Apr 2019
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