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Thor Mining Makes Progress Across 3 Key Tungsten And Copper Projects

Thu, 08th Mar 2018 14:21

LONDON (Alliance News) - Thor Mining PLC said in a trading update on Thursday it saw "highly positive" progress across its three key business interests and is looking forward to progress its tungsten and copper projects.

The AIM-listed company said that the tungsten resource sector "considerably strengthened" during 2017 and in the first quarter of 2018, as global APT tungsten prices were at its highest since December 2014.

Thor Mining said it currently has around GBP1.6 million in cash to undertake and fund planned activities until 2019.

For the exploration and development company's Molyhil tungsten-molybdenum mine in Australia's Northern Territory the possibility of an underground mining extension was reported in mid-January. Back then, Thor Mining had said that the Molyhil mine's life had been extended by 17% to seven years.

Thor Mining also said that it commenced in February a scoping study for its Pilot Mountain tungsten, silver and copper project in the US state of Nevada, together with metallurgical testwork required for pre-feasibility studies.

At its third key interest, the Kapunda mine in Australia, Thor published the project's copper resource in February.

Thor Mining Executive Chairman Mick Billing said: "It is the view of the board that the time has come to absolutely focus our efforts on Pilot Mountain, Molyhil and Kapunda. The recently published progress achieved in respect of each project has been considerable and we are of the view that the best outcome for shareholders will be achieved from the absolute concentration on our core interests each of which is in the board's view capable of delivering company transforming outcomes."

"Our main business investment decisions will be strictly focused on the Pilot Mountain, Molyhil and Kapunda projects and any directly related and compatible developments from a geographic, commodity and strategic perspective."

"Further news will follow across our business in what is increasingly an exciting period for the company. Make no mistake there is plenty of work still to do, however with a fair wind and robust commodity markets we are exceptionally well positioned."

Thor Mining shares were up 14% at 2.99 pence per share on Thursday.

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6 Mar 2024 21:09

IN BRIEF: Thor Energy hails new 3D model highlights on mineralisation

Thor Energy PLC - US and Australia-focused mineral exploration company - At the Alford east copper - rare earth element project in South Australia, says new 3D model shows deeply weathered troughs in areas of unaltered metamorphic were found associated with zones of faulting, deep oxidation and intrusives as depth. Notably, the ambient noise tomography surveys confirm the significance of the prominent north-northeast structure associate with copper oxide mineralisation. "The combined resultant 3D model provides targeted criteria for extensions to existing mineralisation and potential for new discoveries of oxide copper-rare earth element mineralisation," Thor Energy says.

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Thor Energy expects "exciting" year after busy quarter

(Alliance News) - Thor Energy PLC on Tuesday said it finished the latest calendar year with high-grade drilling results, highlighting "the significant potential" of its projects.

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Thor Energy up after Colorado drilling reveals high-grade Uranium

(Alliance News) - Thor Energy PLC shares rose on Thursday, as the discovery of high-grade uranium at its Uravan belt prospects coincided with soaring uranium prices.

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18 Dec 2023 18:33

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18 Dec 2023 13:15

Thor outlines deal between investee ECL and Andromeda Metals

(Sharecast News) - Thor Energy announced a significant development on Monday involving signing an agreement between EnviroCopper (ECL) and Andromeda Metals (Andromeda).

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4 Dec 2023 13:28

IN BRIEF: Thor Energy finds high-grade uranium intercepts at Groundog

Thor Energy PLC - US and Australia-focused mineral exploration company - Announces high-grade uranium intercepts at Groundhog prospect at the Wedding Bell and Radium Mountain projects,in southwest Colorado. Says the reverse circulation drill programme comprised of 23 shallow holes totaling 2,737 metres. Downhole gamma readings indicated up to 6,885 parts per million of uranium.

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4 Dec 2023 12:17

Thor Energy reports solid Colorado drilling results

(Sharecast News) - Thor Energy announced the successful completion of its reverse circulation drilling programme on Monday, revealing promising downhole uranium gamma results at the Wedding Bell and Radium Mountain Projects in the Uravan Mineral Belt of southwest Colorado.

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UK shareholder meetings calendar - next 7 days

Thursday 23 November 
abrdn UK Smaller Companies Growth Trust PLCAGM
Avation PLCAGM
Bradda Head Lithium LtdAGM
DX Group PLCAGM
Europa Oil & Gas Holdings PLCAGM
Fiske PLCAGM
JPMorgan UK Smaller Cos Investment Trust PLCAGM
Hotel Chocolat Group PLCAGM
Pacific Horizon Investment Trust PLCAGM
Pan African Resources PLCAGM
PZ Cussons PLCAGM
Rosslyn Data Technologies PLCAGM
Friday 24 November 
Base Resources LtdAGM
Cloudbreak Discovery PLCAGM
Esken LtdEGM re Esken Renewables disposal
Neometals LtdAGM
Sovereign Metals LtdAGM
Sylvania Platinum LtdAGM
Monday 27 November 
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European Smaller Cos Trust PLCAGM
JPMorgan Global Emerging Markets Income Trust PLCAGM
Quadrise PLCAGM
Tribal Group PLCGM re cash offer by Tiger Bidco 1 Ltd
Tuesday 28 November 
Bluefield Solar Income Fund LtdAGM
London Finance & Investment Group PLCAGM
Nanoco Group PLCAGM
Oakley Capital Investments LtdAGM
Wednesday 29 November 
Artemis Resources LtdAGM
Aura Energy LtdAGM
Contango Holdings PLCAGM
CVS Group PLCAGM
Fidelity Asian Values PLCAGM
Ikigai Ventures LtdAGM
Panthera Resources PLCAGM
Reconstruction Capital II LtdAGM
Renishaw PLCAGM
RiverFort Global Opportunities PLCAGM
Sabien Technology Group PLCAGM
Scancell Holdings PLCAGM
Seeing Machines LtdAGM
SLF Realisation Fund LtdAGM
Target Healthcare REIT PLCAGM
Thor Energy PLCAGM
Transense Technologies PLCAGM
Vast Resources PLCAGM
  
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22 Nov 2023 14:01

Thor Energy completes drilling programme at Wedding Bell project

(Alliance News) - Thor Energy PLC on Wednesday said that it has completed a reverse circulation drilling programme at its fully-owned Wedding Bell and Radium Mountain projects, which are located in the Uravan Mineral Belt in southwest Colorado.

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15 Nov 2023 11:41

IN BRIEF: Thor Energy shares surge on "significant" uranium find

Thor Energy PLC - US and Australia-focused mineral exploration company - Says drilling has revealed significant uranium mineralisation at its Wedding Bell and Radium Mountain projects in southwest Colorado. Reports up to 3,186 parts per million or 0.32% uranium at the Rim Rock mine along a strike of historic mined-out areas. Says 16 drillholes now complete at the Rim Rock and Section 23 prospects, with uranium mineralisation intercepted in all of them. Drilling will continue at Rim Rock before commencing at the Groundhog prospect. Thor Energy expects the drilling programme to conclude later this month.

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