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Reach
5 November
2024
Thor Energy
plc
("Thor"
or the "Company")
Uranium Drilling
Commences
Wedding Bell and
Radium Mountain Projects, USA
The directors of Thor Energy Plc
("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that
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.
Highlights:
§ Reverse Circulation
("RC") drilling commences at Groundhog prospect.
§ At Groundhog, infill
drilling will be centred around high-grade uranium and vanadium
mineralisation intercepted in 23WBRA020 (ASX/AIM:
29 February 2024), with extension holes up
to 300m to the north and east (Figure 1).
23WBR020:
4.9m @ 1199ppm (0.12%)
U3O8 and 6306ppm (0.63%)
V2O5 from 82m,
Including,
0.6m @ 6250ppm (0.63%)
U3O8 and 30348ppm (3.0%)
V2O5 from 82.6m
§ Drilling is estimated
to take approximately four weeks to complete, with downhole gamma
results released to the market as they become available.
Photo 1: Envirotech
drill rig at Groundhog Prospect
Alastair
Clayton - Executive Chairman, Thor Energy Plc,
commented:
"We are pleased to report drilling has now commenced at our
Wedding Bell Project, with the RC drill programme commencing at our
Groundhog Mine Prospect. The program is anticipated to last four
weeks, with downhole gamma results released to the market as they
become available."
Figure 1: Drill
collars at the Groundhog Mine Prospect showing 2024 proposed
collars in blue
Figure 2: Uranium
and Vanadium Project Location Map within the Uravan Mineral
Belt
The Board of Thor Energy Plc has approved this
announcement and authorised its release.
Thor Energy PLC
Alastair Clayton, Executive
Chairman
Ray Ridge, CFO / Company
Secretary
Tel: +61 (8) 7324 1935
SI
Capital Limited (Joint Broker)
Nick Emerson
Tel: +44 (0) 1483 413 500
Yellow Jersey (Financial PR)
Dom Barretto / Shivantha Thambirajah
/ Bessie Elliot
thor@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
Competent Person
Statement
The
information in this report that relates to Geological
interpretation and Exploration Results is based on information
compiled by Nicole Galloway Warland, who holds a BSc Applied
geology (HONS) and who is a Member of The Australian Institute of
Geoscientists. Ms Galloway Warland is an employee of Thor Energy
PLC. She has sufficient experience which is relevant to the style
of mineralisation and type of deposit under consideration and to
the activity which she is undertaking to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Nicole Galloway Warland consents to the inclusion in the
report of the matters based on her information in the form and
context in which it appears.
About Thor
Energy Plc
The Company is focused on uranium,
energy metals and recently Hydrogen and Helium that are crucial in
the shift to a 'green' energy economy. Thor has several highly
prospective projects that give shareholders exposure to uranium,
vanadium, copper, tungsten, lithium, nickel and gold, located in
the favourable mining jurisdictions of Australia and the
USA.
Thor holds 100% interest in three
uranium and vanadium projects (Wedding Bell, Radium Mountain and
Vanadium King) in the Uravan Belt region of Colorado and
Utah, with
historical high-grade uranium and vanadium drilling and production
results.
Thor has signed a binding agreement to hold an
80% interest in Go Exploration Pty Limited, an Australian early
mover company in the exploration of naturally occurring hydrogen
and helium resources in South Australia.
At Alford East in South Australia,
Thor has earnt an 80% interest in oxide copper deposits considered
amenable to extraction via In-Situ Recovery techniques
(ISR). In January 2021, Thor announced an
Inferred Mineral Resource Estimate.
Thor also holds a 26.3% interest in
a private Australian copper development company EnviroCopper
Limited (ECL), which Kapunda copper mine and the Alford West copper
project, both situated in South Australia, and both considered
amenable to recovery by way of ISR. Alligator Energy recently
invested A$0.9M for a 7.8% interest in ECL with the rights to gain
a 50.1% interest by investing a further A$10.1m over four
years.
Thor holds 75% interest (with
Investigator Resources 25%) of the advanced Molyhil tungsten
project, including measured, indicated and inferred resources, in
the Northern Territory of Australia, which was awarded Major
Project Status by the Northern Territory government in July
2020.
Thor owns 100% of the Ragged Range
Project, comprising 92 km2 of exploration licences with
highly encouraging early-stage gold and nickel results in the
Pilbara region of Western Australia.
For further information on Thor
Energy and to see an overview of its projects, please visit the Company's website
at https://thorenergyplc.com/.
The Company notes that for the
relevant market announcements noted above, it is not aware of any
new information or data that materially affects this information
and that all material assumptions and technical parameters
underpinning any estimates continue to apply and have not
materially changed.