Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has released assay results from work conducted on its Wedding Bell and Radium Mountain uranium and vanadium projects in the Uravan Mineral Belt, Colorado, USA.
The assay results validate downhole gamma readings for uranium, as well as confirming broader vanadium mineralisation.
Among the best results for vanadium were 1.5 metres (m) at 2,660 parts per million (ppm) vanadium pentoxide (V2O5), 1.5m at 1,776ppm V2O5, and 3m at 1,640ppm V2O5.
The company will follow up with a close-spaced airborne magnetics and radiometric survey.
In addition, drill permitting has commenced for follow-up drilling at both Wedding Bell and Radium Mountain.
"We are pleased to receive these very encouraging vanadium assay results for the selection of physical samples sent for analysis,” said Nicole Galloway Warland, managing director of Thor Energy.
“The assay results confirm the uranium mineralisation determined by downhole gamma and highlight broader enriched vanadium haloes of up to 0.27% vanadium. These vanadium-rich halos are typical of this style of 'Salt Wash' sandstone-hosted uranium mineralisation. Drill permitting is underway for our next round of drilling at Wedding Bell, and initial drilling at Vanadium King, Utah, following the airborne geophysical survey. A close-spaced airborne radiometric and magnetics survey is planned over all three projects area once the conditions are suitably dry given there is still a small amount of snow and water at present on the ground."