- Thor Mining (THR) is granted drilling approvals for its Wedding Bell and Radium Mountain projects in Colorado, USA
- The approvals come from the Federal Bureau of Land Management and Colorado Division of Reclamation, Mining and Safety
- With the approvals in hand, the company plans to undertake shallow drilling at Rim Rock, Groundhog and Section 23 once a suitable rig has been sourced
- With drillholes pegged and final drilling preparations underway, Thor is primed to become the first company to drill the area
- Thor Mining last traded at 0.8 cents at 10:10 am AEST
Thor Mining (THR) has been granted drilling approvals for its Wedding Bell and Radium Mountain projects in the USA.
The company’s 100 per cent owned projects are situated in the historic uranium-vanadium mining district, within the Uravan mineral belt in southwest Colorado.
The new approvals come from the Federal Bureau of Land Management (BLM) and Colorado Division of Reclamation, Mining and Safety (DRMS).
With the approvals in hand, the company plans to undertake shallow drilling at Rim Rock, Groundhog and Section 23 once a suitable rig has been sourced.
Thor previously received high-grade results from its due diligence work in the area, which included up to 1.25 per cent uranium oxide and 3.47 per cent vanadium oxide. This was said to confirm the mineralisation within the Salt Wash member of the Morrison Formation.
The company said its next round of drilling will target the prospective Salt wash horizon of sandstone-hosted uranium and vanadium mineralisation at shallow depth.
Managing Director Nicole Galloway Warland said the company is delighted to have all permits now in place for its upcoming drilling program.
“Based on my recent site visit I am very encouraged by the extent of mineralisation observed and the project overall prospectivity,” Ms Galloway Warland said.
“Drillholes are now pegged and final drilling preparation underway. We look forward to getting on the ground and testing these shallow high-grade targets, especially Section 23, where Thor will be the first company to access and drill test this highly prospective area.”
Thor Mining last traded at 0.8 cents at 10:10 am AEST.