Thor Mining has received $2.4 million from Oz Minerals to further the development of In-Situ Recovery (ISR) technology at EnviroCopper’s Kapunda copper-gold project.
The investment will support technical investigations into ISR technology currently being conducted at EnviroCopper’s Kapunda copper-gold ISR Project in South Australia, of which Thor Mining owns a 30 per cent stake.
The technology would allow for the economic extraction of copper resources via ISR, while also reducing adverse impacts to the natural landscape.
Managing Director of Thor Mining, Nicole Galloway Warland, said the company was pleased to continue its ongoing relationship with EnviroCopper and Oz Minerals.
“We are very pleased to announce this collaboration between EnviroCopper and OZ Minerals, with OZL committing funds to continue the investigation at Kapunda Project into the potential economic extraction of copper via the low-footprint In-Situ Recovery mining technique,” Ms Galloway Warland said.
“This is a validation of the previous work by ECL on In-Situ Recovery of copper at the Kapunda project, in cooperation with The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and University of Adelaide under a CRC-P grant (Commonwealth Research Centre Project).
“The OZ Minerals funding is non-dilutive hence will not impact Thor’s 30 per cent equity interest in EnviroCopper.”
