Figure 1: Wedding Bell radiometric image (U2/Th ratio) draped over Digital Elevation Model (DEM) showing uranium anomalies in red, green and light blue with priority targets circled.
The directors of Thor Energy Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the positive results from the recently completed heliborne magnetic and radiometric surveys over the Company’s 100% owned uranium and vanadium projects – Wedding Bell, Radium Mountain and Vanadium King, situated within the Uravan Mineral Belt in Colorado and Utah, USA.
HIGHLIGHTS
- Several strong uranium anomalies delineated; these are along strike of historic workings, as well as over previously untested areas (Figure 1).
- Ground truthing is now underway over the uranium anomalies, which are being prioritised and ranked.
- The priority anomalies identified at Section 23 Prospect, and along strike of the Groundhog historic workings, will both be drill-tested as part of the proposed upcoming drilling program (Figure 1).
- Federal (BLM) and Colorado (DRMS) drill permits received, now awaiting San Miguel County approval to commence follow-up drilling from the successful 2022 Program, at Rim Rock, Groundhog and Section 23, Wedding Bell Project.
Thor is very excited by the results from the recently completed high-resolution heliborne magnetic and radiometric surveys. Several strong uranium anomalies were identified and are located along strike of the historic workings (such as Groundhog at Wedding Bell Project) which may represent extensions to the mineralisation, whilst several new untested areas of interest have also been highlighted. One of these anomalies is our Section 23 prospect.
At the Wedding Bell and Radium Mountain projects, there is a positive correlation between the first pass structural interpretation of the magnetic data and the historic workings. This could indicate increased porosity or fluid conducts within the sediments, which allowed the uranium and vanadium mineralisation to precipitate out. As a result, key structural features and radiometric anomalies will be further investigated, including ground truthing and priority ranking.
Positive progress is being made with the proposed 2023 drilling program permits at the Wedding Bell project, with approval received from the Federal Bureau of Land Management (BLM) and the Colorado Division of Reclamation and Mining Safety (DRMS). The final step in the approval process is with the San Miguel Board of County Commissioners Meeting scheduled in mid-August.
ABOUT THE
URANIUM-VANADIUM PROJECTS
LATEST
NEWS
Uranium Drilling Commences at Wedding Bell Project
Drilling has commenced at Groundhog Prospect, on the Company’s 100% owned Wedding Bell Project, located in the uranium-vanadium
mining district of the Uravan Mineral Belt, southwest Colorado, USA.
Drill Preparations Underway At Wedding Bell Uranium Project
On-ground drill site preparations are now underway for our 2024 drilling programs at Rim Rock and Groundhog mine areas, with drilling scheduled to commence in early October
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
Equity Placing to Accelerate Uranium and Copper Exploration
With the addition of these funds the Company is now in a position to plan for the next phases of exploration at its’ USA and South Australian projects.
RIU – Investor Presentation (May 2024)
Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation titled “Uranium Focus”, prepared by MD Nicole Galloway Warland, for the RIU Conference in Sydney.
High Grade Uranium and Vanadium Assays – Wedding Bell and Radium Mountain Projects, USA
Assays return up to 3,0348 ppm (3.0%) V2O5 vanadium pentoxide, with uranium assay grades up to 6,250ppm (0.63%) U3O8, consistent with the high-grade downhole gamma uranium results