Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) said a key highlight in the coming quarter will be assay results from drilling programs at its Wedding Bell and Radium Mountain uranium programs in Colorado.
Uranium prices are at 16-year highs, noted Nicole Galloway Warland, Thor’s managing director, with the US government investing up to US$500 million to develop a domestic supply of nuclear energy from uranium.
Elsewhere in the US, maiden drilling will get underway at the Vanadium King project with preparation for more drilling at the Groundhog, Rim Rock and Wedding Bell.
In Australia at Alford East, an assessment of a new 3D ANT survey should be completed while work in-situ copper recovery (ISR) processes are ongoing.
Galloway Warland added: "The successful completion of the hydrometallurgical mini-column tests; returning favourable copper recoveries of up to 72.2% are above the standard range of 60-70% for an ISR operation.
“These are considered an excellent result, as Thor advances the ISR assessment of the Alford East Copper-REE-Gold Project.”
Cash equivalents at the end of December were A$978,000.