Thor Mining Plc (ASX:THR) has reported ‘significant’ copper / gold intercepts from its initial diamond drilling campaign at the Alford East Project in South Australia.
The results, which are above the MRE cut-off grade, come from two of nine diamond holes recently completed, with the remainder awaiting assay results.
Key results include:
- Hole 21AED001: 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5 m, including
- 5m @ 0.5% Cu and 1.02g/t Au from 102m
- Hole 21AED002: 59.9m @ 0.31% Cu from 21.9m
The company reports that it has encountered further promising pXRF results for holes 21AED005 and 21AED004, with assay results expected over the coming weeks.
“The uplift in copper and especially gold grade, adjacent to what appears to be a controlling structure is very exciting and beyond expectations”
Drilling off to a promising start
Thor undertook an initial nine-hole diamond drill program at Alford East, for a total of 878m. The program was focused on the northern region of the Alford East copper-gold deposit, with rigs targeting areas open at depth and along strike.
Step-out holes 21AED002, 21AED006 and 21AED007 were positioned up to 100m north of
the MRE shell, with results confirming the extension of copper mineralisation along strike.
Assay results from holes 21AED001 and 21AED002 indicate grade uplift along the north-south trending controlling structure, validating the updated geological model and structural controls on mineralisation.
Earning in at Alford East
The Alford East Copper-Gold Project, located on South Australia’s Yorke Peninsula, sits on the northern extremity of the Alford Copper Belt, which the company describes as a “semi coherent zone of copper-gold oxide mineralisation”.
The project sits on tenement EL6529 which is owned by unlisted explorer Spencer Metals Pty Ltd, with Thor earning up to an 80% interest through exploration activity.
An Inferred Mineral Resource Estimate was declared in 27 January 2021, based on data from historical drilling, with 125.6Mt @ 0.14% Cu containing 177,000 tonnes of contained copper + 71,500 oz of contained gold.
Thor Mining Managing Director Nicole Galloway Warland said: “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 expectations, suggesting potential for an extended zone of higher-grade copper and gold along this structure.
The intersections of copper mineralisation in three drillholes 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.”
Images: Thor Mining Plc