Thor Mining (THR) has begun drilling for uranium and vanadium at its Wedding Bell and Radium Mountain projects in Colorado, US.
Thor is planning an initial drilling program of 2000 metres across three priority areas: the Rim Rock, Groundhog and Section 23 prospects
These areas were identified after due diligence work that confirmed uranium and vanadium mineralisation within the Brushy Basin Shales and the Salt Wash Sandstone of the Morrison Formation.
While this will be the first drilling conducted at Section 23, drilling at Rim Rock and Groundhog has been designed to test extensions to high-grade uranium and vanadium mineralisation sampled within and around historic workings.
Managing Director Nicole Galloway Warland said the start of drilling was a significant milestone for the company.
“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”.
Ms Galloway noted the rising price of uranium and said as the US looked to secure domestic uranium supply, the company was in an “excellent position” to advance its US assets.
The projects lie in the historic uranium-vanadium mining district within the Uravan Mineral Belt of southwest Colorado.
Shares in Thor Mining were down 5 per cent to just under a cent at 10:39 am AEST.
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