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.
Wedding Bell, Radium Mt, Vanadium King
Uravan Mining Belt, USA
100% Thor Energy
Thor’s Colorado projects are situated in the centre of the Uravan Mineral Belt. This area and the adjacent uranium-vanadium mining districts of the Colorado Plateau are reported to have produced in excess of 85million lbs U3O8 and over 660 million lbs of V2O5 from the Salt Wash ores of the Plateau over the past 100 years.
Thor’s claims include a number of historical mines which are reported to have operated during first World War and again in the second half of the 20th century. Since aquiring the projects in 2020 Thor has completed thorough geological reviews of the claims as well as an extensive field sampling program. Over the course of 2021-22 the team identified and successfully secured permits to drill test the three highest priority targets.
The Uravan Mineral Belt has a long and fascinating history of Uranium Mining
Section 23 is the highest priority drill target. This area was previously held by the government and has no historic prospecting, drilling or mine production. Thor will be the first company to access and drill test this highly prospective area.
Thor Energy has a 100% interest in 100 BLM claims in south east Utah, approximately 40km north of the town of Moab. There is no evidence of historical mining activities, however there is reporting of significant uranium and vanadium mineralised bodies from drilling activities by Hunt Oil, Mineral Division, in 1980 and 1981, reported by Terra Ventures (TSX-V: TAS) in a 2007 Terra Ventures News Release.
It is noted that the Hunt Oil estimate does not comply with either the JORC or NI 43-101 for current mineral resource reporting but it does provide a substantial indication of widespread uranium – vanadium mineralisation on the project, in a similar geological setting to multiple deposits elsewhere in the region.
Operated by Energy Fuels Inc, the White Mesa Mill is the only fully licensed and conventional processing plant in the United States. It is reported to be the largest producer of uranium in the United States and has historically accepted toll milling agreements as well as purchase programs for processing ores from third party mines. Located approximately 50km from the Wedding Bell Project in Blanding, Utah, this represents a possible low cost path to utilise existing infrastructure in order to develop projects in the region.
In this Global Mining Review article Nicole Galloway Warland, Managing Director, Thor Energy Plc, explores the current challenges facing nuclear fuel supply, and how the complex combination of supply and demand factors mean that Uranium miners operating in friendly juristictions are certain to benefit.