Thor Mining PLC (AIM:THR, FRA:T5MC, OTCQB:THORF, ASX:THR) said initial assays from its Alford East ISR project in South Australia indicate intercepts of copper and gold substantially above the cut-off grade used for the mineral resource estimate.
“Assays from the first two drill holes highlight grade uplift along the north-south trending controlling structure, validating the new geological model and structural controls on mineralisation,” said the statement.
Nicole Galloway Warland, Thor’s managing director, added: ” The new geological model and drill targeting is paying off.
“The uplift in copper and especially gold grade, adjacent to what appears to be a controlling structure is very exciting and beyond the directors’ expectations, suggesting potential for an extended zone of higher-grade copper and gold along this structure.
“The intersections of copper mineralisation in three drill holes drilled up to 100m north of the AE-5 MRE, suggests a structural link to the AE-8 domain to the NE, and potentially significant upside to the Mineral Resource Estimate.
“These initial copper and gold grades, wide intercepts and increased depth of weathering are all very encouraging for In-Situ Recovery (ISR).”
Nine diamond drill holes totalling 878m were completed during this programme with assays received for the first two – 21AED001 and 21AED002.