Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has recorded what it said are significant uranium drill intercepts at its 100%-owned Wedding Bell and Radium Mountain projects in southwest Colorado.
Downhole gamma logging recorded up to 3,186 parts per million (ppm) (0.32%) EU3O8 in one hole along strike of historic mined-out areas of the Rim Rock mine with three others above 1,000 ppm, though all 16 holes drilled so far in the programme intercepted uranium, said Thor.
Drilling continues at Rim Rock before the rig moves to the Groundhog prospect, it added.
Nicole Galloway Warland, Thor Energy's managing director, commented: "These are significant uranium results, reflecting the high-grade nature of the uranium mineralisation within the Uravan Mineral Belt.
“With significant results found well above the Uravan Mineral Belt's historical cut-off grade, this drilling program strengthens the project's overall economic outlook.
"The drilling program is progressing well, with completion anticipated in late November 2023, and we look forward to updating the market with further uranium gamma results upon completion of the drilling program."