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Thor Mining updates on Kapunda

By BFN News | 01:57 PM | Wednesday 13 September, 2017

Thor Mining's Executive Chairman said he is very excited about the copper opportunity at the Company's Kapunda project in South Australia. In its latest update, the Company confirmed that copper is naturally leaching into groundwater around the deposit, which it said is a very positive indication, and water testing from local existing bores, to determine metal content, will be an early focus. Additional highlights: - Project process is proposed via in-situ recovery, and other early activities will be directed at confirming the current understanding that the geology of the deposit is favourable for this method; - Applications to be submitted to secure Australian government research funding to assist with costs of the proposed work program; - No requirement identified for additional exploration drilling thus reducing the cost of development. Mr Mick Billing, Executive Chairman of Thor: "We are very excited about this copper opportunity at Kapunda. We are fortunate that there is no requirement for exploration drilling in the hope of finding economic mineralisation - that work has been done, and the mineralisation is well known. "The global copper environment has improved considerably in recent months and there is an understandable expectation that with the increasing demand for copper, the forward market pricing dynamics remain favourable." "We note from investor feedback that there is a real desire by the market for new and exciting copper investment opportunities, and with Kapunda Copper, Thor now has a project interest that falls squarely into copper space, alongside our extensive tungsten portfolio. "A project of this nature cannot proceed without community support, and consultation with the local community forms a key part of our strategy". "We will ensure that we continue to inform and update investors as we look to advance this opportunity." At 1:57pm: (LON:THR) Thor Mining PLC share price was +0.03p at 0.95p Story provided by

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