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Thor Mining Plc

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Summary

Project:

Kapunda

Deposit:Kapunda
Location:Australia
Commodities:Copper
Date:2/22/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:22-2-2018: Thor Mining Plc announces a Resource Estimation report for its Kapunda deposit at the Kapunda project. JV - Clarification with further details of resource estimate (filed by Terramin Australia). The Board of Thor Mining Plc (“Thor” or the “Comp
Resources:(Resource, Inf.): 47.4Mt @ 0.25% Cu for 119Kt Cu contained at Kapunda
CP/QP:[Resources]: Eric Whittaker (Internal)
ABSTRACT:The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR), is pleased to announce that a substantial Resource estimate containing 119,000 tonnes of copper, considered amenable to In Situ Recovery techniques (“In Situ Recovery” or “ISR”), released 12 February by Environmental Copper Recovery SA Pty Ltd. (“ECR”) and Terramin Australia Limited (“Terramin” ASX: “TZN”). Thor, as announced on 1 August 2017, is earning up to a 60% interest in ECR, which in turn is earning, from Terramin, up to a 75% interest in the mineral rights and claims over the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery techniques. Subject to full earn in Thor would therefore hold an effective 45% interest in Kapunda. Mick Billing, Executive Chairman, commented: "An Inferred Resource estimate containing 119,000 tonnes of copper is well above expectations and is outstanding news for our investors”. ”Global copper prices have moved upwards strongly over the past 12 months, and we expect this trend to continue. However, at the price at the date of this announcement of approximately US$7,000 per tonne, this Inferred Resource demonstrates that the project has considerable potential value.”

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