- Thor Mining announced 'substantial' initial copper resource of 114,000 tonnes at its Moonta project in South Australia.

The resource estimate of the Moonta project was considered preliminary, with an additional 308 drill holes over Wombat, Bruce, and Larwood deposits to be included in the resource modelling once scheduled quality assurance processes are complete, the company said.

EnviroCopper, in which Thor held a 25% stake, would see its managed resource inventory rise to 233,000 tonnes of copper, when the Moonta project estimate is combined with the 119,000 resource from its Kapunda project.

'This builds upon the EnviroCopper Kapunda resource of 119,000 tonnes contained copper, with copper emerging as a very significant component of the Thor Mining project portfolio,' the company said.

'Thor holds a 25% interest in EnviroCopper, with rights to increase that equity to 30%, and is therefore very well placed with its interest in this strategically significant project, at a time when new copper opportunities in safe jurisdictions are at a premium,' the company said.

At 8:38am: [LON:THR] Thor Mining PLC share price was +0.1p at 0.75p

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