(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.
The US and Australia-focused mineral exploration company said that during the three months to Deember 31, it intercepted high-grade uranium up to 0.69% and completed 23 reverse circulation drill holes totalling 2,737 metres at the Wedding Bell, Rim Rock and Groundhog projects in the US state of Colorado.
Thor Energy also reported copper recoveries of up to 72.2% from hydrometallurgical mini column tests on drill samples at the Alford East copper oxide project in Australia.
Thor Energy expects to publish uranium and vanadium assay results from the Wedding Bell and Radium Mountain drilling programme during the quarter ending March 31, as well as maiden drilling at the Vanadium King project in Utah. It added that preparation is underway for resource drilling at the Groundhog, Rim Rock and Wedding Bell projects.
The company continues to seek a divestment or joint venture partner for the Ragged Range project in Australia's Pilbara region.
"Finishing the year with consistent high-grade uranium results from our 2023 drilling program highlights the significant potential and exciting growth opportunities of our Wedding Bell and Radium Mountain uranium projects," commented Managing Director Nicole Warland.
"We are now preparing for an exciting 2024 drilling programme, including resource drilling, and continuing brownfields exploration over our highly prospective projects."
Thor Energy shares were up 5.4% at 1.95 pence on Tuesday in London.
By Emma Curzon, Alliance News reporter
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Thor Energy (THR)