Shares in Thor Mining (AIM: THR) were in demand this morning after further exploration at its Harts Range, Plenty Highway and Bundey Uranium in the Northern Territory returned 'encouraging' results. Results included Uranium values up to 8.8% U from rock chip sampling from the Harts Range and Bundey Uranium.
Additionally, three palaeo-channels, which could host roll front uranium deposits, were identified on a recent Hoist EM survey covering the Plenty Highway uranium project.
Thor now intends to follow up with a drilling campaign in April to test the potential of its prospective uranium leases.
CEO John Young, added: "We are very pleased with the results from the HoistEM Survey which has successfully defined priority drilling targets, particularly within the major palaeo-channels identified at Plenty Highway."
"Further work is required within the Harts Range tenements to delineate drilling targets however we now have a much better understanding of the mineralisation styles and the geology that hosts a number of high-priority uranium prospects. Importantly, the recent sampling results have also confirmed the prospectivity of the area to host uranium mineralisation."
Thor Mining is focused on advancing tungsten-molybdenum and uranium projects in the Northern Territory of Australia.