The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) are pleased to provide an exploration update on the Company’s 100% owned Wedding Bell and Radium Mountain uranium and vanadium projects in the Uravan Mineral Belt, USA, Ragged Range gold-nickel project in the Pilbara, WA and Molyhil tungsten-molybdenum project, NT.
- Maiden 2000m drilling program to commence in mid-September 2022 at the priority Rim Rock, Groundhog and Section 23 prospects within the Wedding Bell and Radium Mountain Projects (Figure 2). Site preparation has commenced.
- Drilling at Rim Rock and Groundhog Prospects is designed to test extensions to high- grade uranium and vanadium mineralisation sampled within and around historic workings of up to 1.25% uranium (U3O8) and 3.47% vanadium (V2O5) (THOR ASX, AIM: 21 July 2020).
- Section 23 is the highest priority drill target in the Colorado Uranium-Vanadium Project. This area represents the only large area in the claim block with the perspective “Salt Wash” Member precluded from historic prospecting, drilling and mine production.
- Drill assay results from the recently completed 3000m RC drilling program at Sterling Prospect, Ragged Range Project are pending due to delays with the laboratory (THR ASX, AIM; 11 July 2022).
- Sampling at Kelly’s prospect, Ragged Range continues to return high grade gold and copper results in rock chips including 15.5g/t Au (and 185 g/t Ag) and 0.91g/t Au (and 535 g/t Ag).
- Airborne Magnetics Survey over the eastern portion of Ragged Range tenure completed with interpretation underway, with emphasis on Kelly’s copper-gold area and lithium prospective ground associated with the Split Rock super suite (THOR ASX, AIM 1 August 2022).
- Downhole Electromagnetic Survey (DHEM) completed on Krona nickel drill hole with data interpretation underway.
- Discussions have commenced with potential Joint Venture partners to progress the Molyhil tungsten-molybdenum project, NT towards development.
URANIUM PROJECTS, USA
Thor Energy Plc has completed a successful capital raise of AUD$1m to accelerate exploration activities at the Company’s 100% owned uranium assets, located in the historic uranium-vanadium mining district within the Uravan Mineral Belt, in Colorado and Utah, USA