INVESTOR UPDATE

High grade copper drilling results at Alford East Copper-Gold ISR Project, South Australia

The directors of Thor Mining are very pleased to advise of further significant copper and gold intercepts from the recently completed initial diamond drilling program at the Alford East Copper-Gold Project, SA.

Project highlights:

An exceptional high grade copper intercept over a wide interval: 

21AED005

• 72.7m @ 1.0% Cu and 0.19g/t Au from 6.3m, including

• 18.2m @ 2.0% Cu and 0.34g/t Au from 15.8m

As announced last week, other significant copper-gold intercepts include:

21AED001

• 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5m, and

• 5m @ 0.5% Cu and 1.02g/t Au from 102m (previously reported THR:ASX Announcement 25 August 2021)

• 59.9m @ 0.31% Cu from 21.9m (previously reported THR:ASX Announcement 25 August 2021)

21AED002

• Significant pXRF copper readings (to be confirmed by laboratory assays) including:
• 21AED004 50m @ 0.45% Cu from 6m (pXRF) (Previously reported THR:ASX Announcement 25 August 2021)

 • Remaining assays expected over the coming weeks. 

The newly discovered broad zone of high copper and gold grades from near surface in 21AED005, combined with the significant intercepts in 21AED001 and 21AED002 takes this oxide mineralised system to a new level, reporting values well above the Mineral Resource Estimate grades. The confirmed uplift in copper and gold grades along the controlling NNE structure continues to excite and exceed Thor’s expectations. We look forward to testing this structure in areas open along strike, to the north and south. Pump testing scheduled for start of September will further advance the In-Situ Recovery (ISR) ‘proof of concept’ hydrometallurgical assessment. Exciting times ahead as we await final assay results from this drilling campaign and commence the ISR for copper and gold baseline studies.

- Managing Director Nicole Galloway Warland

ABOUT THE

ALFORD COPPER PROJECTS

Thor Mining has an interest in several projects in the copper belt near Alford on the Yorke Peninsula in South Australia and further to the east at Kapunda.

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