Managing Directors comments:
"There were major advancements in key projects for Thor during the December quarter.
At our Wedding Bell and Radium Mountain uranium projects in the US, the intersection of uranium-bearing, reduced sandstones at the greenfields Section 23 prospect is exciting, as is the lateral continuity of high-grades along strike of historic workings at both Rim Rock and Groundhog prospects.
The latest drill results at Kelly’s Prospect are encouraging, including the copper-silver with minor gold intersections at Kelly’s and Kelly’s NE. To date most drilling has only focussed on the gold potential and the recent drill results demonstrate the potential for a significant copper-gold-silver and base metals system.
We are very pleased to have entered into a Heads of Agreement with Fram (Investigator Resources Ltd) to earn-in and provide additional exploration funding on the Molyhil tenements. The agreement enables Thor to retain an equity interest in the advanced Molyhil mine and the prospective Molyhil tenements. This will reduce operational risk for Thor, provide exploration upside on the tenements, as well as receiving considerations in the form of cash and IVR shares.
The Molyhil divestment and Bonya sale further consolidates the Company’s focus on our priority USA uranium assets and the multi-element Ragged Range project. The name change to ‘Thor Energy Plc’ represents Thor’s developing exploration focus on our uranium and energy metal projects in the USA and Australia, which the board considers provide the most significant value upside within our portfolio bringing longer-term benefits to the Company and its shareholders.
Thor is looking forward to an exciting 2023 with geophysics programs and follow-up drilling planned at Wedding Bell and Radium Mountain uranium projects, Colorado and a maiden drilling program at Vanadium King Project, Utah.”
LATEST
NEWS
Formation of Joint Venture at the Molyhil Tungsten Project, NT
The Directors of Thor Mining (THR) are pleased to announce a joint venture Agreement with ASX-listed Investigator Resources Limited (“IVR”),
Uranium Drill Approvals Granted, Wedding Bell and Radium Mountain Projects, USA
All approvals and permits have been granted to commence follow-up drilling at Wedding Bell and Radium Mountain projects including Rim Rock and Groundhog Prospects
Quarterly Activities and Cash Flow Report (June 2024)
Read about the main advancements in our key projects for Thor Energy Plc (AIM, ASX: THR) during the March quarter.
Drilling Commences at Alford West Copper ISR Project
The drilling program comprises three water bores for hydrogeological baseline assessment, and subsequent push-pull and tracer testing as part of the first phase of In-Situ Recovery (“ISR”) Site Environmental Lixiviant Trials.
Updated Mineral Resource Estimate, Molyhil Tungsten Project
The Directors of Thor Mining (THR) are pleased to announce the funding agreement to accelerated exploration of the Molyhil and Bonya Tungsten Projects
New Board Appointment – Timothy Armstrong
The directors of Thor Energy Plc (“Thor”) (AIM, ASX: THR, OTC: THORF) are pleased to announce the appointment of Mr Timothy Armstrong as Non-Executive Director with immediate effect.