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Thor Mining initial drilling identifies high uranium prospectivity

Wed, 21st Dec 2022 10:27

(Alliance News) - Thor Mining PLC on Wednesday said initial drilling results showed high uranium prospectivity at two 100% owned projects in Colorado.

The London-based Australia and US-focused exploration and development company said its recently completed drilling programme confirmed high uranium prospective at both the Wedding Bell and Radium Mountain projects.

The company said drilling results showed 2.1 metres at 0.036% triuranium octoxide at the Groundhog prospect, including 0.3 metres at 0.14% triuranium octoxide.

Drilling at the Rim Rock prospect identified 0.3 metres at 0.072% triuranium octoxide, and drilling at the newly tested Section 23 prospect showed 0.5m at 0.051% triuranium octoxide.

Managing Director Nicole Galloway Warland said: "As the first company to access and drill test this highly prospective area, the intersection of uranium bearing reduced sandstones at the newly tested Section 23 prospect is exciting to see, as is the continuity of high-grades along strike of historic workings at both at Rim Rock and Groundhog."

The company said follow-up drilling programmes are planned for 2023.

Thor Mining shares were down 4.3% at 0.31 pence per share on Wednesday morning in London.

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com