TIDMTHR
RNS Number : 7631P
Thor Mining PLC
22 June 2022
22 June 2022
Thor Mining PLC
("Thor" or the "Company")
US Uranium and Vanadium
Drilling Approvals Received
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are delighted to announce that all drilling approvals have
been granted on the Company's 100% owned Wedding Bell and Radium
Mountain Projects, located in the historic uranium-vanadium mining
district within the Uravan mineral belt, southwest Colorado, USA
(See Figure 1).
Project highlights:
-- The proposed drilling program at the priority Rim Rock,
Groundhog and Section 23 prospects will commence once a suitable
drill rig has been sourced (Figure 2).
-- Drilling will target the prospective 'Saltwash' horizon of
sandstone-hosted uranium/vanadium mineralisation at shallow
depth.
-- Field sampling by Thor has returned assay results of
high-grade uranium (up to 1.25% U(3) O(8) ) and vanadium (up to
3.47% V(2) O(5) ) (THOR ASX, AIM: 21 July 2020).
-- Thor will be visiting the drill sites in the next couple of
weeks.
Photo A: Drillhole 1 - Section 23 may be viewed via the
following link:
http://www.thormining.com/sites/thormining/media/maps/dh1_section23.jpg
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"Thor is delighted to have all permits now in place for our
proposed upcoming drilling program. Based on my recent site visit I
am very encouraged by the extent of mineralisation observed and the
project overall prospectivity. Drillholes holes are now pegged and
final drilling preparation underway.
"We look forward to getting on the ground and testing these
shallow high-grade targets, especially Section 23, where Thor will
be the first company to access and drill test this highly
prospective area."
Figure 1: US Uranium and Vanadium Project location map showing
Wedding Bell and Radium Mountain in Colorado and Vanadium King in
Utah, USA.
http://www.thormining.com/sites/thormining/media/Maps/20-003-1-VKRMWB-Loc.jpg
http://www.thormining.com/sites/thormining/media/Maps/20-003-2-VKRMWB-Locn.jpg
Full details on Thor's US uranium and vanadium projects may be
found on Thor's website
https://www.thormining.com/projects/us-uranium-and-vanadium .
Following on from the San Miguel County approvals on 30 March
2022, Thor has now received the Federal Bureau of Land Management
(BLM) and Colorado Division of Reclamation, Mining and Safety
(DRMS) approvals, completing the approval process to undertake the
proposed shallow drilling program at Rim Rock, Groundhog and
Section 23, shown on Figure 2.
DRILLING PROGRAM
High-grade assay results from due diligence work completed by
Thor returned up to 1.25% U(3) O(8) and 3.47% V(2) O(5) ,
confirming uranium and vanadium mineralisation within the Salt Wash
member of the Morrison Formation. This is consistent with and
typical of the historical production in the Wedding Bell, Radium
Mountain area of the Uravan mineral belt (Figure 3).
Following this work, three priority areas within the Colorado
claims were highlighted for drill testing - Section 23, Rim Rock,
and Ground Hog (Figure 2). The initial drill program comprises 15
holes drilled to an average depth of 80-100m to fully test the
prospective horizon. Final drilling preparations are now
underway.
Section 23 (Figure 2) in the southeast corner of the Wedding
Bell claims has been identified by Thor Mining and World Industrial
Minerals LLC (US Consulting team) as the highest priority drill
target in the Colorado Uranium-Vanadium Project. This area
represents the only large area in the claim block with the "Salt
Wash" Member precluded from historic prospecting, drilling and mine
production. Proposed drillholes for this area are designed to
target potential mineralisation in the third sandstone unit
estimated to be within 30-40m of surface, stratigraphically, the
mapped contact with the overlying upper Brushy Basin Member of the
Morrison Formation.
The Rim Rock Mine area (Figure 2) represents a second priority
drill target. The proposed drill holes are designed to straddle the
ESE projection of the sampled Rim Rock Mine, whose adit opening is
located immediately to the west. The Rim Rock Mine was the largest
uranium-vanadium producer in the project area. When the adit area
was sampled by Thor, a laterally continuous layer of vanadium
mineralisation with assays was sampled:
-- 0.89% U(3) O(8) and 1.68%V(2) O(5) - WR-004
-- 0.14 % U(3) 0(8) and 1.9% V(2) 0(5) - WR-017
-- 0.05% U(3) O(8) and 2.14% V(2) O(5) - WR0018
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200721-high-grade-uranium-assays.colorado-field-sampling.pdf
It is anticipated that this same layer or a stratigraphically
equivalent layer of mineralisation will be intercepted by the
proposed drill holes. Vanadium layers, such as this one, with
relatively low in uranium content (by the standards of historical
uranium mining in the Uravan District), were usually ignored by the
miners.
Drilling proposed at the Groundhog Mine area (Figure 2) is
designed to test for any lateral continuation of mineralisation
parallel to the east-west mineralisation mined to the south.
Figure 2: Map of Colorado Wedding Bell Project showing priority
areas - Section 23, Groundhog and Rim Rock may be viewed via the
following link:
http://www.thormining.com/sites/thormining/media/maps/21-003-1-us-uranium.jpg
Photo B: Uranium and vanadium mineralisation in the Salt Wash
member, Morrison Formation (Rim Rock Prospect) may be viewed via
the following link:
http://www.thormining.com/sites/thormining/media/maps/photo---stratigraphy.jpg
Figure 3 : Simple Stratigraphy of the Uravan Mineral Belt
showing the prospective Morrison Formation may be viewed by te
following link.
http://www.thormining.com/sites/thormining/media/maps/21-003-2-us-uranium.jpg
This announcement is authorised for release to the market by the
Board of Directors.
For further information, please contact:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324
Ray Ridge, CFO / Company Secretary 1935
Tel: +61 (8) 7324
1935
WH Ireland Limited (Nominated Adviser Tel: +44 (0) 207
and Joint Broker) 220 1666
Jessica Cave / Darshan Patel / Megan Liddell
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483
413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
Competent Persons Report
The information in this report that relates to 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 Mining 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.
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com , which includes a facility to
register to receive these updates by email, and on the Company's
Twitter page @ThorMining .
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across the USA and
Australia. Its focus is on progressing its copper, gold, uranium
and vanadium projects, while seeking investment/JV opportunities to
develop its tungsten/molybdenum assets.
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, with
follow up drilling planned for 2022.
At Alford East in South Australia, Thor is earning 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 of 177,000 tonnes
contained copper & 71,000 oz gold(1).
Thor also holds a 30% interest in Australian copper development
company EnviroCopper Limited, which in turn holds rights to earn up
to a 75% interest in the mineral rights and claims over the
resource on the portion of the historic Kapunda copper mine and the
Alford West copper project, both situated in South Australia, and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including measured, indicated and inferred resources , in the
Northern Territory of Australia, which was awarded Major Project
Status by the Northern Territory government in July 2020. Drilling
in November December 2021 intersected strike extensions to the main
ore zone.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
resource estimates for the Bonya copper deposit and the White
Violet and Samarkand tungsten deposits.
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLKZGZVKZKGZZG
(END) Dow Jones Newswires
June 22, 2022 02:00 ET (06:00 GMT)
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024