Thor Energy Plc (AIM/ASX: THR) has obtained further promising exploration results at the wholly-owned Wedding Bell and Radium Mountain uranium and vanadium projects in the Uravan Mineral Belt, Colorado, USA.
Project Highlights:
▪ Assay results validate downhole gamma readings for uranium and confirm broader enriched vanadium mineralization.
▪ Vanadium assay results include:
1.5m @2660ppm (0.27%) V2O5 from 83.8m (22WB012A) – Groundhog 1.5m @1776ppm (0.18%) V2O5 from 59.4m (22WB014) – Rim Rock 3.0m @1640ppm (0.16%) V2O5 from 83.8m (22WB012) – Groundhog 1.5m @1026ppm (0.10%) V2O5 from 83.8m (22WB011) – Section 23
▪ Close-spaced airborne magnetics and radiometric survey to commence over all three projects, once the ground conditions are suitably dry.
▪ Drill permitting has commenced for follow up drilling at both Wedding Bell and Radium Mountain.
“We are pleased to receive these very encouraging vanadium assay results for the selection of physical samples sent for analysis,” Managing Director, Nicole Galloway Warland, said.
“The assay results confirm the uranium mineralization determined by downhole gamma and highlight broader enriched vanadium haloes of up to 0.27% vanadium.
“These vanadium-rich halos are typical of this style of ‘Salt Wash’ sandstone-hosted uranium mineralization.
“Drill permitting is underway for our next round of drilling at Wedding Bell, and initial drilling at Vanadium King, Utah, following the airborne geophysical survey.
“A close-spaced airborne radiometric and magnetics survey is planned over all three projects area once the conditions are suitably dry given there is still a small amount of snow and water at present on the ground.”
Next Steps:
The following activities are underway:
1. Detailed interpretation and modelling (combining new data with historic records).
2. Continue to retrieve and review all historic data associated with the projects, including the Vanadium King Project.
3. Fly airborne magnetic and radiometric surveys over all three projects–pending suitable dry ground conditions.
4. Planned drilling, including follow-up at Wedding Bell and Radium Mountain.
5. Commenced approvals for 2023 drilling programmes.
For further information please visit: https://thorenergyplc.com/
