Thor Mining PLC (LON:THR) (ASX:THR) said it has started field activities associated with the due diligence assessment for the proposed acquisition of American Vanadium.
Thor announced at the beginning of the month an option agreement to acquire American Vanadium, which holds interests in uranium and vanadium-focused projects in Colorado and Utah.
So far, Thor revealed, it has not uncovered any regulatory or environmental issues that would impact the proposed acquisition.
In a statement, Mick Billing, the executive chairman of Thor Mining commented: “Our Colorado-based team have mobilised quickly and commenced a sampling programme from the historical mines around Wedding Bell and Radium Mountain mines, along with other field due diligence activities.
"They have also, utilising their contacts, sourced additional historical records of mining and drilling activity in each project area which has, to date, reinforced our decision to progress this opportunity,”