Thor Mining gets county approval to drill 2 prospects at its Wedding Bell uranium project in US
Spot uranium prices are close to an 11-year high and potential US sanctions on Russian uranium imports have increased focus in the US on domestic supply
Company
LON:THR
Thor Energy PLC is an exploration company with a focus on uranium and energy metals that are crucial in the shift to a ‘green’ energy economy. The company has a number of highly prospective projects that give shareholders exposure to uranium, nickel, copper, lithium and gold. Thor Energy's projects are located in Australia and the USA, both of which are top mining jurisdictions, and are poised for discovery success.
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Spot uranium prices are close to an 11-year high and potential US sanctions on Russian uranium imports have increased focus in the US on domestic supply
"The testing of these new targets in conjunction with the continuation of drilling of further gold exploration targets at the Sterling Prospect, has the potential for significant exploration discoveries," said managing director Nicole Gallo
Thor ``has a strong pipeline of news flow expected in the coming months, and project milestones across the portfolio,’’ MD says.
Thor also reported positive gold and copper recovery results from trials using an environmentally friendly glycine as the principal reagent
Details of the upcoming drill programme at Ragged Range are currently being finalised
Thor has a significant portfolio of exploration assets in Australia and North America
For the variation, Power Metal will pay Thor £50,000.00 in cash and issue it 4mln new shares
Samso believes that the ISR potential should be the company's main focus and the creation of a Green Copper story is achievable.
Trading in Thor shares on the ASX will resume on Wednesday
Thor has made progress on the Ragged Range gold project, the Alford East copper-gold project and the Molyhil tungsten-molybdenum-copper project since its last capital raising
“This is a significant milestone for the Kapunda ISR Project, which Thor is delighted to be a part of”
Thor Mining has a diverse portfolio of assets and plenty of experience in tungsten exploration
Molyhil is located 220 kilometres north-east of Alice Springs, and already boasts a 4.4 million tonne tungsten, molybdenum and copper resource
Thor is now progressing with the completion of the Stage 2 earn in, which will result in Thor having an 80% interest
“With exciting advancement expected across our portfolios during the remainder of 2021 and into 2022, we thank our shareholders for their continued support and look forward to updating them on our progress in due course," said managing dire
Molyhil already boasts a significant tungsten and molybdenum resource
“This sale is also the right mix of cash and shares to provide ongoing exposure to the Pilot Mountain project"
“This is positive news as we progress the project towards ISR assessment and development of an environmentally, low carbon emission alternative to conventional open cut and underground mining," said managing director Nicole Galloway Warland
Thor has completed stream sediment programmes and an airborne magnetic survey at Ragged Range, defining a 13km gold anomalous corridor called the Sterling prospect
A maiden reverse circulation drilling programme at Sterling due to start next week
Thor Mining has a diverse portfolio of exploration assets, including significant exposure to uranium
Thor has several projects moving ahead rapidly at present
It was another bumper week for small cap mining news in London
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"It's great to see mineral exploration collaborations between industry, government and research organisations," said Nicole Galloway Warland
Potter has been a board director since August 2019
The company thanked its longstanding head of the company for his significant contribution
Thor has a long track record of exploration work in Australia
"These initial copper and gold grades, wide intercepts and increased depth of weathering are all very encouraging for In-Situ Recovery (ISR).”
It placed about 123.1mln shares at a price of 0.65 pence each
Paul Wittwer will be working on the Alford East and Ragged Range projects.
Maiden diamond drilling programme at Alford East remains on time and on budget
Thor has an 80% interest in the Alford East project
The results confirm the significant exploration potential for a quality gold discovery at Ragged Range
The project is located on licence EL6529, where Thor can earn up to an 80% interest from unlisted Australian explorer Spencer Metals
This is the third successful government grant Thor has received this year
“The successful grant is a strong endorsement of the technical merits of the project by the South Australian Government"
The company is well-funded for drilling and is focused on copper resources along with gold & uranium discoveries.
"This work will have a significant impact on the value of shareholders' investment in Thor Mining"
Mick Billing to relinquish the role of chief executive, but remain as executive chairman
Gold grades of up to 2.2 grammes per tonne were previously reported from stream sediment samples
"With uranium prices at current levels, we are pleased to be in a position to commence drilling at our Colorado uranium-vanadium project once permitting is complete,” said executive chairman Mick Billing
Share trading on OTCQB platform will improve access for US institutional and retail investors
The company ended 2020 with a cash balance of £685,000 and has subsequently raised £750,000 via a share placement
Samso believes Thor Mining’s ISR copper project in South Australia is going to re-rate the company and the market is going to be taken by surprise.
For the first quarter of the year, the company said a program of field sampling and drill access permitting its planned for its Ragged Range gold project in Western Australia, as well as an initial 3,000-metre drill program at the site
The explorer said the project in South Australia is estimated to contain 177,000 tonnes of copper and 71,500 ounces of gold
The company has extensive experience of exploration in Australia and elsewhere
Thor has been spreading its wings and acquiring new assets lately
The company has an extensive portfolio of assets in Australia and elsewhere
“Next steps will consist of detailed soil sampling over this, with reconnaissance soil sampling over the other shallow magnetic anomalies."
Thor has a diverse portfolio of assets across multiple jurisdictions
Thor Mining has a diverse portfolio of assets across multiple jurisdictions
The newly added project hosts multiple 'walk up' drill-ready targets.
"This additional investment in EnviroCopper represents outstanding value for Thor and Thor investors,” said chairman Mick Billing
The company is acquiring up to 30% interest in EnviroCopper, which 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 in South Australia.
"We are very pleased with the high-grade assays from the initial sampling program," said chief executive Mick Billing
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It is the latest in a positive step for the early stage gold exploration project
Thor Mining has a diverse portfolio of assets in various jurisdictions around the world
The sediment results have confirmed a 13 kilometre gold trend at the tenements, while samples delineating the target zone are from separate drainage catchments, supporting the potential of gold mineralisation along the entire strike length
Thor Mining has a diverse portfolio of assets in various jurisdictions
Thor has exposure to tungsten, gold, vanadium and copper
Oil prices rose 0.4% to US$40.68 on Wednesday, extending gains from the previous session, as a hurricane disrupted US offshore oil and gas production.
Thor has a diverse portfolio of assets in Australia and the USA
Thor Mining has a diverse portfolio of mining and development assets
Field sampling unearthed signs of high-grade uranium and vanadium during due diligence work, said Thor.
The new arrival's experience spans grassroots exploration through to project evaluation, encompassing both open-cut and underground mining, with a focus on gold, copper-gold, base metals, nickel, uranium and lithium
The company also said sampling results have also defined an overall broader target zone and demonstrated potential to host a “significant gold bearing system”
Thor Mining has a diverse portfolio of exploration assets
"This appears to be a highly successful follow up, to the previous, very successful, sampling program," said Mick Billing, Thor Mining’s executive chairman
"Our ISR copper investments continue to develop value with excellent outcomes from testwork at Kapunda," said executive chairman Mick Billing
The testing was carried out by EnviroCopper Limited which via a subsidiary holds an earn-in agreement over metals which may be recovered via in-situ recovery from the Kapunda deposit
Thor Mining has a broad portfolio of assets across several jurisdictions
"This is an important follow up to the previous, very successful, sampling program,” said executive chairman Mick Billing
Thor Mining has an extensive portfolio of assets in the US and Australia
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A definitive feasibility study for Molyhil shows that it will offer a robust economic return
The Q&A was published by the group following queries from shareholders regarding the recently proposed acquisition of uranium & vanadium focused claims in the US
Thor has an extensive portfolio of assets in Australia and the US
The Thor team based in Colorado has commenced due diligence activities consisting of site reviews and sampling from historical mines around the Wedding Bell and Radium Mountain
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Thor already has significant experience operating in the US through its portfolio of tungsten assets
Thor Mining has a diverse portfolio of exploration and development assets
Thor Mining has extensive exploration and development assets in Australia
The company delivered a number of new resource estimates during the financial year
Thor owned 15mln shares in the lithium-focused miner, representing 1.87% of its entire issued capital
Drill assays are due shortly from its in-situ copper project at Kapunda
“These maiden resources are very significant when combined with the mining inventory of the nearby proposed Molyhil development," said Thor chair Mick Billing.
The miner said the latest results will provide “further support for gold potential” at the site as well as highlighting the possibility for nickel and chrome.
Thor has appointed an independent resource geologist to prepare mineral resource estimates
EnviroCopper, a 25% owned associate of Thor, is working at Kapunda to see if in-situ recovery is a viable option for the copper resource
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"We look forward to our initial resource estimate at Bonya scheduled for January 2020."
The fracture zone contains significant copper mineralisation that should be amenable to in-situ recovery in all three holes
"We are very pleased to see preliminary good grades of both tungsten and copper, particularly at shallow depths at Samarkand, following excellent earlier reported preliminary results at White Violet."
EnviroCopper can earn up to 75% of the rights over metals produced by in-situ recovery at the Kapunda deposit.
These drill results from the highlights section of the stock market announcement (RNS) are clearly high-grade to mid-grade