A recent review of the Kapunda Copper project in South Australia by the Board of Thor Mining Plc has shown positive signs for the project.

Among the highlights from the review was the discovery of copper naturally leaching into groundwater around the deposit, which Thor Executive Chairman Mick Billing said was a great opportunity for the project.

“We are very excited about this copper opportunity at Kapunda,” he said.

The company has submitted applications to secure further Australian government research funding to assist with the costs of the project, but in a positive for the company there will be no requirement for additional exploration drilling which will help bring down costs.  

“We are fortunate that there is no requirement for the traditional approach of drilling in the hope of finding economic mineralisation – that work has been done, and the mineralisation is well known,” Mr Billing said.  

An early focus heading forward will be on water testing from local existing bores to determine metal content.

“We ensure newsflow from Kapunda Copper will inform and update investors from the beginning as we look to advance this opportunity,” Mr Billing said. 

“A project of this nature cannot proceed without community support, and consultation with the local community forms a key part of our strategy”. 

The discovery is timely with copper prices expected to rise heading forward following demand.

“The global copper environment has improved considerably in recent months and there is an understandable expectation that with the increasing demand for copper, the forward pricing dynamics remain favourable,” Mr Billing said.  

“We note from investor feedback that there is a real desire by the market for new and exciting copper investment opportunities, and with Kapunda Copper, Thor now falls squarely in to copper space, alongside our extensive Tungsten portfolio.” 

Image: File picture of copper.