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Thor Energy confirms vanadium mineralisation at Colorado projects

Mon, 24th Apr 2023 10:45

(Alliance News) - Thor Energy PLC said on Monday assays from its Wedding Bell and Radium Mountain uranium and vanadium projects validate downhole gamma readings for uranium and confirm broader vanadium mineralisation.

The London-based uranium and vanadium explorer's Wedding Bell and Radium Mountain projects are located in the Uravan belt in the US state of Colorado.

Thor Energy said its vanadium assay results include 1.5 metres at 2,660 parts per million, or 0.27%, vanadium oxide from 83.8 metres at Groundhog and 1.5 metres at 1,776 ppm, or 0.18%, vanadium oxide from 59.4 metres at Rim Rock.

The company added that a close-spaced airborne magnetics and radiometric survey will commence over its three projects "once the ground conditions are suitably dry", and drill permitting has begun for follow-up drilling at Wedding Bell ad Radium Mountain.

Managing Director Nicole Galloway said: "We are pleased to receive these very encouraging vanadium assay results for the selection of physical samples sent for analysis. The assay results confirm the uranium mineralisation determined by downhole gamma and highlight broader enriched vanadium haloes of up to 0.27% vanadium."

Shares in Thor Energy were trading flat at 0.30 pence each in London on Monday morning.

By Sabrina Penty; Alliance News reporter

Comments and questions to newsroom@alliancenews.com