INVESTOR UPDATE

Positive Vanadium Assay Results

Read the full ASX release

The directors of Thor Energy Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) 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, Colorado, USA 


HIGHLIGHTS

  • Assay results validate downhole gamma readings for uranium and confirm broader enriched vanadium mineralisation.
  • Vanadium assay results include:
    • 1.5m @ 2660ppm (0.27%) V2O5 from 83.8m (22WB012A) – Groundhog
    • 1.5m @ 1776ppm (0.18%) V2O5 from 59.4m (22WB014) – Rim Rock
    • 3.0m @ 1640ppm (0.16%) V2O5 from 83.8m (22WB012) – Groundhog
    •1.5m @ 1026ppm (0.10%) V2O5 from 83.8m (22WB011) – Section 23
  • Close-spaced airborne magnetics and radiometric survey to commence over all three projects, once the ground conditions are suitably dry.

  • Drill permitting has commenced for follow up drilling at both Wedding Bell and Radium Mountain. 

We are pleased to receive these very encouraging vanadium assay results for the selection of physical samples sent for analysis. The assay results confirm the uranium mineralisation determined by downhole gamma and highlight broader enriched vanadium haloes of up to 0.27% vanadium. These vanadium-rich halos are typical of this style of ‘Salt Wash’ sandstone-hosted uranium mineralisation.

Drill permitting is underway for our next round of drilling at Wedding Bell, and initial drilling at Vanadium King, Utah, following the airborne geophysical survey. A close-spaced airborne radiometric and magnetics survey is planned over all three projects area once the conditions are suitably dry given there is still a small amount of snow and water at present on the ground.

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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