TIDMTHR
RNS Number : 9476Y
Thor Mining PLC
28 August 2018
28 August 2018
THOR MINING PLC
SUCCESSFUL LABORATORY COPPER EXTRACTION
KAPUNDA PROJECT, SOUTH AUSTRALIA
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), is pleased to announce successful laboratory test work
results for the extraction of copper from Kapunda Copper Project
core samples, in partnership with Environmental Copper Recovery SA
Pty Ltd ("ECR").
Highlights
-- Up to 78% copper recovery within 2 days of bottle roll leach testing;
-- Extraction agent (lixiviant) was glycine, a biodegradable
amino acid, elsewhere used in the food and pharmaceutical
industries;
-- Other lixiviants scheduled for near-term testing;
-- Testwork activities funded under the recently announced
Australian Commonwealth Research Centre Project Grant (CRC-P).
Mick Billing, Executive Chairman, commented:
"Very pleasing initial recovery outcomes from the laboratory
testwork on Kapunda core. While laboratory conditions are not a
full simulation of field processing, it is a very positive
result."
"The success with glycine, a very benign substance, is an
important step forward. Other lixiviants are also being trialled,
and we look forward to these results when available."
"Importantly, also, ECR will be well placed from this work to
identify and assess many other projects for which ISR may be an
economic extractive solution."
"We look forward to providing further regular updates on this
exciting venture."
Project testwork
A series of bottle roll tests (standard recovery testwork
technique for heap leaching and in-situ recovery projects) over
seven days was conducted on four samples by Cooperative Research
Centre partner CSIRO. The lixiviant used was glycine, an amino
acid, typically used in food and pharmaceutical industries.
Sample testwork details Table A:
Sample Grade Lixiviant Dosage Maximum Days for
ID (ppm Cu) (g/L)* Recovery Max Recovery
Szabo 9700 Glycine 23 73.34 2
---------- ---------- -------- ---------- --------------
Deep 2700 Glycine 23 78.48 1
---------- ---------- -------- ---------- --------------
Bottom 2650 Glycine 23 60.74 2
---------- ---------- -------- ---------- --------------
Top 1025 Glycine 23 60.02 7
---------- ---------- -------- ---------- --------------
* Based on a 3:1 glycine : copper molar ratio for the
highest-copper-grade sample (Szabo)
Core samples for the program were selected from the South
Australia government core library, which hosts historical core from
previous exploration programs.
A photo showing dissolved copper from each of these samples can
be viewed via;
http://thormining.com/-/thor/lib/images/miscellaneous/201808%20Cu%20Bottle%20Roll.jpg
Kapunda Project
On 1 August 2017, Thor announced an agreement to earn up to 60%
of a newly incorporated private Australian company, Environmental
Copper Recovery SA Pty Ltd, initially via convertible loan notes of
up to A$1.8 million, which will be used to fund field test work and
feasibility activities at Kapunda over the next 3 years.
In turn ECR has entered into an agreement to earn, in two
stages, up to 75% of the rights over metals which may be recovered
via in-situ recovery ("ISR") contained in the Kapunda deposit from
Australian listed company, Terramin Australia Limited ("Terramin"
ASX: "TZN").
For detail of the In-situ Recovery process, investors are
invited to view the ECR website; https://www.envirocopper.com.au/
.
In February 2018 Thor announced an Inferred JORC Resource
Estimate for the Kapunda project, containing 119,000 tonnes of
contained copper considered amenable to In-situ Recovery
techniques.
For detail of the Resource Estimate Announcement, investors are
invited to view the Thor website:
http://www.thormining.com/-/thor/lib/docs/asx%20releases/20180212%20ASX%20Kapunda%20Resource.pdf
.
Subsequently, on 30 July 2018, the Company announced details of
a CRC-P (Cooperative Research Centre) grant to the value of A$2.85
million from the Australian Commonwealth Government for the Kapunda
In-Situ Copper and Gold Recovery Trial.
We look forward to providing further updates on this exciting
project as news becomes available.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Mick Billing +61 (8) 7324 1935 Thor Mining PLC Executive Chairman
Ray Ridge +61 (8) 7324 1935 Thor Mining PLC CFO/Company
Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton UK Nominated Adviser
Richard Tonthat/ 5100 LLP
Ben Roberts
Nick Emerson +44 (0) 1483 413 SI Capital Ltd Joint Broker
500
David Hignell +44 (0)20 3861 Northland Capital Joint Broker
/ Rob Rees / 6625 Partners Limited
Isabella Pierre
Tim Blythe/ Camilla +44 (0) 207 138 Blytheweigh Financial PR
Horsfall 3222
Competent Person's Report
The information in this report that relates to exploration
results and Mineral Resources is based on information compiled by
Leon Faulkner, who holds a BSc in geology and who is a Member of
The Australasian Institute of Geoscientists. Mr Faulkner is an
employee of Environmental Copper Recovery Pty Ltd. He has
sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Leon Faulkner consents to the inclusion in the report of
the matters based on his information in the form and context in
which it appears.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on
the AIM Market of the London Stock Exchange and on ASX in
Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the
Northern Territory of Australia, for which an updated feasibility
study in August 2018(1) suggested attractive returns.
Thor also holds 100% of the Pilot Mountain tungsten project in
Nevada USA which has a JORC 2012 Indicated and Inferred Resources
Estimate(2) on 2 of the 4 known deposits. The US Department of the
Interior has confirmed that tungsten, the primary resource mineral
at Pilot Mountain, has been included in the final list of Critical
Minerals 2018.
Thor is also acquiring up to a 60% interest Australian copper
development company Environmental Copper Recovery SA Pty Ltd, which
in turn holds rights to earn up to a 75% interest in the mineral
rights and claims over the resource(3) on the portion of the
historic Kapunda copper mine in South Australia recoverable by way
of in situ recovery.
Thor has a material interest in USA Lithium Pty Limited, an
Australian private company with a 100% Interest in a Lithium
project in Nevada, USA.
Finally, Thor also holds a production royalty entitlement from
the Spring Hill Gold project of:
-- A$6 per ounce of gold produced from the Spring Hill tenements
where the gold produced is sold for up to A$1,500 per ounce;
and
-- A$14 per ounce of gold produced from the Spring Hill
tenements where the gold produced is sold for amounts over A$1,500
per ounce.
Notes
-- (1) Refer ASX and AIM announcement of 23 August 2018
-- (2) Refer AIM announcement of 22 May 2017 and ASX announcement of 23 May 2017
-- (3) Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018
-- Refer AIM announcement of 26 February 2016 and ASX announcement of 29 February 2017
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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