INVESTOR UPDATE

High-Grade Uranium Intercepts at Groundhog Prospect 

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The directors of Thor Energy Plc (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the final downhole uranium gamma results for the reverse circulation (“RC”) drilling program, at the Company’s 100% owned Wedding Bell and Radium Mountain Projects, located in the historic uranium-vanadium mining district within the Uravan Mineral Belt, southwest Colorado, USA. 

HIGHLIGHTS

• Downhole gamma logging returns up to 6,885ppm (0.69%) eU3O8 uranium along strike of the historic mine working at Groundhog Mine. 

• Significant uranium downhole gamma results above 2000ppm (0.2%) eU3O8 include: 

  • 23WBRA020 0.9m @ 6885ppm (0.69 %) eU3O8 from 82.66m 
  • 23WBRA019 0.3m @ 3362ppm (0.34 %) eU3O8 from 90.22m 
  • 23WBRA011 0.5m @ 3186ppm (0.32 %) eU3O8 from 76.2m 
  • 23WBRA016 0.8m @ 1954ppm (0.20%) eU3O8 from 67.4m 
 

• The completed RC program comprised 23 shallow drillholes totalling 2,737m, with geological logging visually identifying favourably reduced sands in all drillholes. 

• Uranium and Vanadium assay results pending. 

• Further geological and mineralisation interpretations to follow. 

These results confirm our expectations that we would achieve shallow high-grade uranium from the drilling program, highlighting the significant potential and exciting growth opportunities of our Wedding Bell and Radium Mountain uranium projects.

A sample submission will be sent to the Australian Laboratory Services, in Vancouver, for physical uranium and vanadium assays results. We look forward to updating the market in due course.

HIGHLIGHTS

• Anomalous uranium and vanadium samples to be sent to Australian Laboratory Services (“ALS”) Canada (results expected in Q1 2024), with review and assessment of the results expected shortly thereafter. 

• Detailed mineralisation and geological interpretations combining the 2022 results. 

• 2024 resource – infill and extension – drilling at Rim Rock and Groundhog mine areas.

Read the full ASX release

ABOUT THE

URANIUM-VANADIUM PROJECTS

Thor Energy holds a 100% interest in three uranium-vanadium projects in the highly prospective Uravan Mining Belt on the border of Utah and Colorado. The Wedding Bell Project and the Radium Mountain Project are both in Colorado and comprise of 199 mineral claims over areas of historical high grade uranium and vanadium production. The Vanadium King Project in south-east Utah comprises of 100 mineral claims, approximately 40km north of the town of Moab.

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