Thor Mining PLC said on Monday that San Miguel County has approved the proposed drilling at the Wedding Bell project in Colorado, and that it has returned assay results of high-grade uranium, as well as vanadium.
The London- and Australia-listed mining company said it was seeking a final sign off with the Federal Bureau of Land Management and the Colorado Division of Reclamation Mining and safety in the coming weeks. It added that preparations were under way to engage drilling contractors and that it expected to start drilling early in the summer in the U.S.
The Wedding Bell Project is located in the historic uranium-vanadium mining district within Colorado’s Uravan mineral belt.
“With the U.S. seeking domestic uranium supply to potentially replace its Russian import of uranium, we are pleased to be in a position to have three, drill ready uranium-vanadium assets in the high-grade, historic producing Uravan minerals belt,” the company said.
Shares at 0733 GMT were up 0.07 pence, or 8.6%, at 0.95 pence.
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