INVESTOR UPDATE

Successful Uranium Drilling Program Completed, USA

Read the full ASX release

The directors of Thor Energy Plc (AIM, ASX: THR) are pleased to announce the completion of 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

• The shallow RC drilling program is now complete at priority prospects; Section 23, Rim Rock Mine and Groundhog

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

• Downhole gamma logging returns up to 3,186 ppm (0.32%) eU3O8 uranium at the Rim Rock Mine, along strike of historic mined-out areas (Table A) – (ASX/AIM: 15 November 2023) 

• Groundhog Mine downhole gamma results are pending. 

Drilling at our Wedding Bell and Radium Mountain projects is now complete, with all drillholes intersecting favourably reduced sands indicative of hosting uranium and vanadium mineralisation.

This has been a safe and well-executed program by Thor’s experienced locally based (Nucla-Montrose, Colorado USA) uranium exploration team.

A sample submission to Australian Laboratory Services, in Vancouver, for uranium and vanadium assays results is currently in progress and the remaining downhole gamma eU308 uranium results will be released to the market once the surveys are complete.

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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