Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) said recent drilling at its Groundhog prospect in Colorado had extended the known mineralisation.
Nine Reverse Circulation (RC) holes totalling 979m were drilled at the prospect, following up 2022 and 2023 programs, with new shallow, narrow high grades of uranium identified 100m to the north and 300m to the east.
Downhole logging data showed the best grades at 0.16% and 0.11% uranium.
Alastair Clayton, Thor’s executive chairman, added: "These Saltwash-style uranium deposits typically pinch and swell over relatively small distances, so we are pleased to have extended the known mineralised footprint by so much.
“On the flip side, we are ideally targeting high-grade horizons of several meters in width, so the intersections indicated in gamma logging from this programme are narrower than we had hoped.
Heavy snow has temporarily halted the drilling and Clayton added: "With the Colorado winter arriving early, we will look to outline our next steps once the thaw begins in Spring."