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US Uranium and Vanadium - Wedding Bell Update
US Uranium and Vanadium - Wedding Bell Update.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1094H\n Thor Mining PLC\n 04 April 2022\n \n \n \n \n 4 April 2022\n \n \n \n \n \n \n \n \n Thor Mining PLC\n \n \n \n \n \n (\"Thor\" or the \"Company\")\n \n \n \n \n \n US Uranium and Vanadium\n \n \n Wedding Bell Update\n \n \n \n \n \n The directors of Thor Mining Plc (\"Thor\") (AIM, ASX: THR, OTCQB: THORF) are pleased to provide a significant update on the Company's 100% owned Wedding Bell Project, located in the historic uranium-vanadium mining district within the Uravan mineral belt, southwest Colorado, USA (Figure 1). \n \n \n \n Project highlights:\n \n \n § \n San Miguel County, Colorado has approved the proposed drilling at Rim Rock and Section 23 prospects (Figure 2).\n \n \n § \n Project prospective for shallow 'Saltwash' type sandstone-hosted mineralisation within the high-grade uranium-vanadium Uravan mineral belt.\n \n \n § \n Field sampling by Thor returned assay results of high-grade uranium, up to 1.25% (12,500ppm) U3O8 and vanadium, up to 3.47% V2O5 (THOR ASX, AIM: 21 July 2020).\n \n \n § \n With final \n sign off with the Federal Bureau of Land Management (BLM) and Colorado Division of Reclamation Mining and safety (DRMS) sought in the coming weeks, p\n reparations are already underway to engage drilling contractors, with a view to start drilling early in the US summer.\n \n \n § \n Spot uranium prices are trading near an 11-year high as a result of improved market sentiment and supply concerns.\n \n \n § \n Potential US sanctions on Russian uranium imports has resulted in an increased focus on US domestic uranium supply.\n \n \n \n \n \n Nicole Galloway Warland, Managing Director of Thor Mining, commented:\n \n \n \n \"Thor has worked closely with the San Miguel County to systematically work through the permitting process and is delighted with the positive outcome. We look forward to getting on the ground and testing these shallow high-grade uranium targets, especially Section 23, which is untested\n \n \n despite the favourable geological setting.\n \n \n \n With the US 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, USA.\n \n \n Thor is led by a man...