Business
Fleet Space Technologies Collaboration
Fleet Space Technologies Collaboration.
About this update from Thor Energy Plc
[{"type":"text","content":"\n\n4 September 2023\nThor Energy Plc\n \n(\"Thor\" or the \"Company\")\n \nFleet Space Technologies Collaboration\nAlford East Copper-REE Project, South Australia\n \nThe directors of Thor Energy Plc (\"Thor\" or the \"Company\") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce a collaboration with Fleet Space Technologies (\"Fleet\") to undertake Ambient Noise Tomography (\"ANT\") surveys to advance Thor's understanding of the Alford East Copper-REE Project, South Australia.\nHighlights:\n§ Thor and Fleet Space Technologies to collaborate on the Alford East Project to accelerate mineral exploration, incorporating Fleet's EXOSPHERE BY FLEET® technology.\n§ EXOSPHERE BY FLEET® scans the ground using the advanced ANT seismic tomography technique, where highly transportable 'Geode' devices listen to faint background vibrations from natural and man-made sources. The Data is then processed rapidly and transmitted through Fleets constellation of low earth orbit satellites, recently launched by SpaceX. This technology will be used in surveys over the Alford East Project to successfully delineate the low velocity, weathered 'troughs' that host the oxide copper-REE mineralisation with the Alford Copper Belt (Figure 1-3).\n§ Fleet will integrate ANT results with Thor's 3D geological model by using Artificial Intelligence (\"AI\") and Machine Learning (\"ML\") to generate a new model for drill targeting higher-grade oxide copper-gold mineralisation.\n§ The results from the surveys will play a pivotal role in shaping decisions and refining the targeting strategy for upcoming drilling campaigns. These future drilling efforts will be concentrated on regions characterised by low seismic velocity, known for hosting oxidised copper-gold mineralisation conducive to the possibility of In-Situ Recovery (\"ISR\").\n§ An investment fund associated with Fleet Space will make a direct equity investment of $250,000 in Thor via a share subscription at $0.04 per Share. The Shares are expected to be issued by 8 September 2023. The Shares will be subject to voluntary escrow for 12 months. Refer Appendix 3B lodged 1 September 2023.\n\n \nFigure 1: ANT 3D model showing the deeply weathered \"trough\" structure, host to oxide copper-gold mineralisation in the Alford Copper Belt at Alford West (ASX/AIM: 17 April 2023).\n&nb...