INVESTOR UPDATE

Uranium Drilling Commences at Wedding Bell and Radium Mountain Projects

Read the full ASX release

The directors of Thor Energy Plc (AIM, ASX: THR) are pleased to announce the commencement of drilling at the Company’s 100% owned Wedding Bell and Radium Mountain Projects.

HIGHLIGHTS

  • The 4,000m drilling program will target mineralisation along strike of the Rim Rock and Groundhog mines, focus on testing airborne uranium anomalies, and continue assessing the under-explored Section 23 area.
 
  • Downhole gamma surveys to be conducted throughout the program, providing market updates with uranium results, as they become available.
 
  • Uranium spot price has hit a 12-year high of US$73/lb, with the year-to-date price rising 51.88%

RC drilling has now commenced at our Wedding Bell and Radium Mountain uranium projects, starting at Section 23 prospect, followed by Groundhog and Rim Rock prospects.

We will be downhole gamma logging regularly throughout the program, so we look forward to updating the markets as these uranium results become available.

Thor is encouraged by the growth opportunities in the uranium sector, with the uranium spot price at a 12-year high, supported by strong supply and demand fundamentals. This aligns with our strategic focus on energy metals and our commitment to advancing our USA uranium projects.

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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