REG - Thor Energy PLC - Uranium Drill Approvals Granted

Thor EnergyAnnouncement

12/08/2024 07:00

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RNS Number : 9855Z  Thor Energy PLC  12 August 2024

12 August 2024

Thor Energy PLC

 

("Thor" or the "Company")

 

Uranium Drill Approvals Granted

Wedding Bell and Radium Mountain Projects, USA

 

The directors of Thor Energy Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to announce that all approvals have been granted for drilling at the
Company's 100% owned Wedding Bell and Radium Mountain Projects, located
southwest Colorado, USA (Figure 1).

Project Highlights:

§ 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 (Figure 1).

§ Options for drill programmes include testing along strike of the known
mineralisation at Rim Rock and Groundhog that may, if successful form part of
any future mineral resource estimations.

 

Photo 1: Collecting background Scinotometer readings over proposed drill pads

 

Nicole Galloway Warland, Managing Director of Thor Energy, commented:

"Thor is delighted to now have all approvals in place for drilling at our
priority uranium and vanadium prospects, at the Wedding Bell and Radium
Mountain Projects.

"Thor would like to thank the supportive local communities, enabling us to now
move forward with our exploration of these projects."

 

 

Figure 1: Wedding Bell and Radium Mountain Projects, Colorado

( )

The Board of Thor Energy Plc has approved this announcement and authorised its
release.

 

For further information, please contact:

 

 Thor Energy PLC
 Nicole Galloway Warland, Managing Director                 Tel: +61 (8) 7324 1935

 Ray Ridge, CFO / Company Secretary                         Tel: +61 (8) 7324 1935
 Zeus Capital Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0) 203 829 5000
 Antonio Bossi / Darshan Patel / Isaac Hooper
 SI Capital Limited (Joint Broker)                          Tel: +44 (0) 1483 413 500
 Nick Emerson
 Yellow Jersey (Financial PR)                               thor@yellowjerseypr.com
 Dom Barretto / Shivantha Thambirajah / Bessie Elliot       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 predominantly focused on uranium and energy metals 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.

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.

Thor holds 75% interest of the advanced Molyhil tungsten-molybdenum project in
Joint Venture with Investigator Resources Limited, 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 km(2) 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/
(https://thorenergyplc.com/) .

 

The Company notes that for the relevant market announcements noted above, that
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.

 

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