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Thor Mining receives A$300,000 in government funding for Alford East Copper-Gold Project

StockMarketWire.com

The directors of resources company Thor Mining have announced the company has been awarded A$300,000 from the South Australia Government for the Alford East Copper-Gold Project as part of round two of the Accelerated Discovery Initiative (ADI).

Thor Mining said that its Alford East Project was one of 22 projects to receive funding in round two of the initiative, and that the funds will be applied to proof-of-concept work for in situ recovery (ISR), including resource drilling, hydrometallurgical and environmental studies.

Managing director Nicole Galloway Warland said: 'The successful grant is a strong endorsement of the technical merits of the project by the South Australian Government. The Alford East Project is an exciting opportunity for Thor shareholders at a time of record copper prices.

'The $300,000 funding will significantly expediate our exploration and development program for the Alford East ISR Project, with diamond drilling commencing shortly with the objective to increase the resource size and commence hydrometallurgical studies.'

Thor Mining confirmed that the diamond drilling program is set to commence in late May 2021.

At 9:55am: (LON:THR) Thor Mining PLC share price was 0p at 1.25p


Story provided by StockMarketWire.com