URANIUM - VANADIUM

URANIUM PROJECTS, USA

OVERVIEW

Thor Mining holds a 100% interest in three uranium-vanadium projects in the highly prospective Uravan Mining Belt on the border of Utah and Colorado. The Wedding Bell Project and the Radium Mountain Project are both in Colorado and comprise of 199 mineral claims over areas of historical high grade uranium and vanadium production. The Vanadium King Project in south-east Utah comprises of 100 mineral claims, approximately 40km north of the town of Moab.

PROJECT NAME:

LOCATION:

TARGET:

OWNERSHIP: 

Wedding Bell, Radium Mt, Vanadium King

Uravan Mining Belt, USA

Uranium, Vanadium

100% Thor Mining

WEDDING BELL & RADIUM MOUNTAIN PROJECTS, COLORADO

Thor’s Colorado projects are situated in the centre of the Uravan Mineral Belt. This area and the adjacent uranium-vanadium mining districts of the Colorado Plateau are reported to have produced in excess of 85million lbs U3O8 and over 660 million lbs of V2O5 from the Salt Wash ores of the Plateau over the past 100 years.

Thor’s claims include a number of historical mines which are reported to have operated during first World War and again in the second half of the 20th century. Since aquiring the projects in 2020 Thor has completed thorough geological reviews of the claims as well as an extensive field sampling program. Over the course of  2021-22 the team identified and successfully secured permits to drill test the three highest priority targets.

SECTION 23

Section 23 is the highest priority drill target. This area was previously held by the government and has no historic prospecting, drilling or mine production. Thor will be the first company to access and drill test this highly prospective area.

LATEST EXPLORATION UPDATE

Strategic Placement Raises $2.65m

The directors of Thor Mining are pleased to announce a successful capital raise of A$2.65m to fund exploration activities at the Company’s project interests, with particular emphasis on the uranium exploration licences in Colorado and Utah in the United States.

Read More »

Based on my recent site visit I am very encouraged by the extent of mineralisation observed and the project overall prospectivity. 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..

- MD Nicole Galloway Warland

Field sampling at the Wedding Bell Project has returned assay results of

HIGH-GRADE URANIUM (UP TO 1.25%U3O8)

VANADIUM KING PROJECT, UTAH

Thor Mining has a 100% interest in 100 BLM claims in south east Utah, approximately 40km north of the town of Moab.  There is no evidence of historical mining activities, however there is reporting of significant uranium and vanadium mineralised bodies from drilling activities by Hunt Oil, Mineral Division, in 1980 and 1981, reported by Terra Ventures (TSX-V: TAS) in a 2007 Terra Ventures News Release.

It is noted that the Hunt Oil estimate does not comply with either the JORC or NI 43-101 for current mineral resource reporting but it does provide a substantial indication of widespread uranium – vanadium mineralisation on the project, in a similar geological setting to multiple deposits elsewhere in the region.

LOCAL INFRASTRUCTURE

Operated by Energy Fuels Inc, the White Mesa Mill is the only fully licensed and conventional processing plant in the United States. It is reported to be the largest producer of uranium in the United States and has historically accepted toll milling agreements as well as purchase programs for processing ores from third party mines. Located approximately 50km from the Wedding Bell Project in Blanding, Utah, this represents a posssible low cost path to utilise existing infrastructure in order to develop projects in the region.

LATEST UPDATES FROM THOR'S

URANIUM - VANADIUM PROJECTS

Strategic Placement Raises $2.65m

The directors of Thor Mining are pleased to announce a successful capital raise of A$2.65m to fund exploration activities at the Company’s project interests, with particular emphasis on the uranium exploration licences in Colorado and Utah in the United States.

Read More »