THR Thor Energy Plc

12 August 2024

Thor Energy PLC

("Thor" or the "Company")

Uranium Drill Approvals Granted

Wedding Bell and Radium Mountain Projects, USA

The directors of Thor Energy Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that all approvals have been granted for drilling at the Company's 100% owned Wedding Bell and Radium Mountain Projects, located southwest Colorado, USA (Figure 1).

Project Highlights:

§ All approvals and permits have been granted to commence follow-up drilling at Wedding Bell and Radium Mountain projects including Rim Rock and Groundhog Prospects (Figure 1).

§ Options for drill programmes include testing along strike of the known mineralisation at Rim Rock and Groundhog that may, if successful form part of any future mineral resource estimations. 

Photo 1: Collecting background Scinotometer readings over proposed drill pads

Nicole Galloway Warland, Managing Director of Thor Energy, commented:

"Thor is delighted to now have all approvals in place for drilling at our priority uranium and vanadium prospects, at the Wedding Bell and Radium Mountain Projects.

"Thor would like to thank the supportive local communities, enabling us to now move forward with our exploration of these projects." 

Figure 1: Wedding Bell and Radium Mountain Projects, Colorado

The Board of Thor Energy Plc has approved this announcement and authorised its release.

For further information, please contact:

Competent Person Statement

The information in this report that relates to Geological interpretation and Exploration Results is based on information compiled by Nicole Galloway Warland, who holds a BSc Applied geology (HONS) and who is a Member of The Australian Institute of Geoscientists. Ms Galloway Warland is an employee of Thor Energy PLC. She has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Nicole Galloway Warland consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

About Thor Energy Plc

The Company is predominantly focused on uranium and energy metals that are crucial in the shift to a 'green' energy economy. Thor has several highly prospective projects that give shareholders exposure to uranium, vanadium, copper, tungsten, lithium, nickel and gold, located in the favourable mining jurisdictions of Australia and the USA.

Thor holds 100% interest in three uranium and vanadium projects (Wedding Bell, Radium Mountain and Vanadium King) in the Uravan Belt region of Colorado and Utah, with historical high-grade uranium and vanadium drilling and production results.

At Alford East in South Australia, Thor has earnt an 80% interest in oxide copper deposits considered amenable to extraction via In-Situ Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate.

Thor also holds a 26.3% interest in a private Australian copper development company EnviroCopper Limited (ECL), which Kapunda copper mine and the Alford West copper project, both situated in South Australia, and both considered amenable to recovery by way of ISR.

Thor holds 75% interest of the advanced Molyhil tungsten-molybdenum project in Joint Venture with Investigator Resources Limited, in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020.

Thor owns 100% of the Ragged Range Project, comprising 92 km² of exploration licences with highly encouraging early-stage gold and nickel results in the Pilbara region of Western Australia.

For further information on Thor Energy and to see an overview of its projects, please visit the Company's website at https://thorenergyplc.com/.

The Company notes that for the relevant market announcements noted above, that it is not aware of any new information or data that materially affects this information and that all material assumptions and technical parameters underpinning any estimates continue to apply and have not materially changed.