Thor Mining launches drilling programme at Colorado assets
By Iain Gilbert
Date: Monday 26 Sep 2022
(Sharecast News) - Diversified resource company Thor Mining has commenced drilling at its 100% owned Wedding Bell and Radium Mountain projects, located in the historic uranium-vanadium mining district of southwest Colorado.
Thor Mining said on Monday that it had launched its 2,000-metre maiden drill campaign, which will focus its efforts on the Rim Rock, Groundhog, and Section 23 prospects.
The drilling will specifically target a prospective "Salt Wash" horizon of sandstone-hosted uranium and vanadium mineralisation, which it expects to encounter at shallow depths of roughly 80 metres.
At Rim Rock and Groundhog, Thor will also look for potential extensions to high-grade uranium and vanadium mineralisation discovered in samples taken from historic workings.
Managing director Nicole Galloway Warland said: "Commencement of drilling at the Wedding Bell Project is a significant milestone for Thor. We look forward to 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.
"As uranium prices rise and the US looks to secure domestic uranium supply, Thor is in an excellent position to advance this promising US asset."
As of 1345 BST, Thor Mining shares had slumped 16.33% to 0.50p.
Reporting by Iain Gilbert at Sharecast.com
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