Thor Mining completes field component of due diligence for American Vanadium acquisition
Thor has an extensive portfolio of assets in Australia and the US
Company
LON:THR
Thor Energy PLC is an exploration company with a focus on uranium and energy metals that are crucial in the shift to a ‘green’ energy economy. The company has a number of highly prospective projects that give shareholders exposure to uranium, nickel, copper, lithium and gold. Thor Energy's projects are located in Australia and the USA, both of which are top mining jurisdictions, and are poised for discovery success.
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Thor has an extensive portfolio of assets in Australia and the US
The Thor team based in Colorado has commenced due diligence activities consisting of site reviews and sampling from historical mines around the Wedding Bell and Radium Mountain
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Thor already has significant experience operating in the US through its portfolio of tungsten assets
Thor Mining has a diverse portfolio of exploration and development assets
Thor Mining has extensive exploration and development assets in Australia
The company delivered a number of new resource estimates during the financial year
Thor owned 15mln shares in the lithium-focused miner, representing 1.87% of its entire issued capital
Drill assays are due shortly from its in-situ copper project at Kapunda
“These maiden resources are very significant when combined with the mining inventory of the nearby proposed Molyhil development," said Thor chair Mick Billing.
The miner said the latest results will provide “further support for gold potential” at the site as well as highlighting the possibility for nickel and chrome.
Thor has appointed an independent resource geologist to prepare mineral resource estimates
EnviroCopper, a 25% owned associate of Thor, is working at Kapunda to see if in-situ recovery is a viable option for the copper resource
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"We look forward to our initial resource estimate at Bonya scheduled for January 2020."
The fracture zone contains significant copper mineralisation that should be amenable to in-situ recovery in all three holes
"We are very pleased to see preliminary good grades of both tungsten and copper, particularly at shallow depths at Samarkand, following excellent earlier reported preliminary results at White Violet."
EnviroCopper can earn up to 75% of the rights over metals produced by in-situ recovery at the Kapunda deposit.