Kapunda Mine update

Kapunda Mine.
Kapunda Mine.

A development assessment plan is now being prepared for the Kapunda Copper project which was announced in August.

The mine owner is Light Regional Council, while tenanted holder Terramin Mining and Environmental Copper Recovery SA entered an agreement on Tuesday, August 1, regarding the potential development of an in-situ recovery project at the site off Perry Road.

Environmental Copper Recovery will receive up to $1.8 million in funding from Thor Mining, an Australian based exploration and ASX-listed company, to progress the project.

According to the Board of Thor Mining, the staged development plan is designed to progressively confirm that the known copper mineralisation at the historic Kapunda mine, can be extracted profitably, but also safely without adverse environmental outcomes.

"We are very excited about this copper opportunity at Kapunda,” Thor executive chairman Mick Billing said.

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

The development plan highlights that applications submitted will secure Australian government research funding to assist with costs of the proposed work program.

Also, there is no requirement for additional exploration drilling, therefore reducing the cost of development.

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