LONDON: The Board of Thor Mining Plc has announced it has been advised by Enviro Copper Limited of commencement of resource estimation work for several of the deposits at the Moonta Copper Project in South Australia.
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.[the_ad id=”31605″]Mick Billing, Executive Chairman, commented: “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.”
It may be mentioned here a Memorandum of Understanding (MOU) announced 5 March 2019, subject to a 90 day due diligence period, was executed between Thor Mining, Environmental Copper Recovery Pty Ltd (“ECR”) (holding earn-in rights to 75% of that part of the Kapunda Copper project amenable to ISR), and Environmental Metals Recovery Pty Ltd (holding earning rights, subject to due diligence, to 75% of Moonta copper project comprising the northern portion of exploration licence EL5984), for the merging of the respective interests, and the formation of Enviro Copper Limited, to hold and advance those interests.