Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has released exciting uranium results from its latest drilling at the Groundhog prospect at the Wedding Bell and Radium Mountain projects in Colorado.
Significant results from reverse circulation drilling confirm shallow high-grade uranium mineralisation, the company highlighted in a statement.
The results, comprising 23 shallow drillholes totalling 2,737 metres, successfully identified high-grade uranium intercepts, with highlight results so far showing downhole gamma readings indicating up to 6,885 parts per million (ppm) (0.69%) uranium.
Other significant uranium gamma results above 2,000ppm (0.2%) eU3O8 have been documented, potentially indicating the presence of substantial uranium deposits.
"These results confirm our expectations that we would achieve shallow high-grade uranium from the drilling program, highlighting the significant potential and exciting growth opportunities of our Wedding Bell and Radium Mountain uranium projects,” Thor managing director Nicole Galloway Warland said in a statement.
Samples from drilling have been sent for further analysis at the Australian Laboratory Services, in Vancouver, and physical uranium and vanadium assays results will follow in due course, expected in the first quarter of 2024.
The company meanwhile noted other expected upcoming news, including detailed mineralisation and geological interpretations, and a new resource estimate in 2024, based on infill and extension drilling at Rim Rock and Groundhog mine areas.