Thor Energy Plc · LSE:THR
Thor Energy — RIU Sydney Resources Round-up 2023
32 slides from Thor Energy's conference presentation, May 9, 2023
Slide 1: Technical Presentation RIU Sydney: New Green Economy: Exploring for Uranium and Energy Metals
For personal use only Technical Presentation RIU Sydney New Green Economy: Exploring for Uranium and Energy Metals 09 May 2023 Nicole Galloway Warland Managing Director
Slide 2: Disclaimer, legal notice and competent person statement
OVERVIEW PROJECTS NEXT STEPS Disclaimer, legal notice and competent person statement For personal use only This document and all other information (whether in writing or otherwise) which may be made available is: 1. Supplied solely for the intended recipient and may not be copied, reproduced, furthe
Slide 3: New Green Economy: Focused on Uranium and Energy Metals
OVERVIEW PROJECTS NEXT STEPS New Green Economy For personal use only Focused on Uranium and Energy Metals USA Uranium Exposure Uranium and Vanadium – Utah and Colorado, USA ▪ Three 100% owned assets in a proven mining region ▪ Uranium demand driven by US desire to secure supply security ▪ Maiden dri
Slide 4: Energy Metals and Uranium: Global Demand
OVERVIEW PROJECTS NEXT STEPS Energy Metals and Uranium: Global Demand For personal use only Environment World is transitioning to ‘greener’ economy - more than 130 countries have set net zero carbon emission targets by 2050 Copper Uranium Global demand predicted to grow up to 10x by 2050 Global dema
Slide 5: USA Uranium Exposure
OVERVIEW PROJECTS NEXT STEPS USA Uranium Exposure For personal use only Geopolitical – USA national supply security USA is the largest consumer of uranium in the world (~28%) Climate change initiatives - Nuclear ‘green’ energy is a “carbon free” base load energy source “High-grade” sandstone hosted,
Slide 6: Experienced Board and Management
OVERVIEW PROJECTS NEXT STEPS Experienced Board and Management For personal use only Uranium exploration and development expertise Alastair Clayton Nicole Galloway Warland Mark McGeough Ray Ridge Chairman Non-Executive Managing Director Non-Executive Director CFO & Joint Company Secretary More than 3
Slide 7: Corporate Snapshot
OVERVIEW PROJECTS NEXT STEPS Corporate Snapshot For personal use only AIM/ASX code THR OTCQB code THORF Market cap A$16.3 Cash (30 March 2023) A$2.3M Debt NIL Top 20 shareholders 58% Strong corporate position with focus on advancing projects towards discovery and development success – creating share
Slide 8: Uranium Colorado & Utah, USA
For personal use only Uranium Colorado & Utah, USA
Slide 9: Project Locations
OVERVIEW PROJECTS NEXT STEPS Project Locations For personal use only ▪ Uravan Mineral Belt, Utah and Colorado, USA ▪ 3 Projects – 100% owned by Thor Energy Plc ▪ Wedding Bell, Colorado ▪ Radium Mountain, Colorado ▪ Vanadium King, Utah 8
Slide 10: Neighbours
OVERVIEW PROJECTS NEXT STEPS Neighbours For personal use only Uranium Companies ▪ Energy Fuels, Inc ▪ Western Uranium and Vanadium Inc ▪ UVRE Ltd Whirlwind - Indicated Resource Uranium Mill 0.2Mt @ 0.3% U3O8 (1Mlbs) and ▪ White Mesa Mill, Energy Fuels 0.97% V205 (3.3Mlbs) Energy Fuels Website ▪ Only
Slide 11: Community and Stakeholder Engagement (ESG)
OVERVIEW PROJECTS NEXT STEPS Community and Stakeholder Engagement (ESG) For personal use only ▪ Local geology and exploration team ▪ Projects are located on federal – Bureau of Land Management (BLM) owned land. ▪ Extensive history with strong connections to the uranium and vanadium industry ▪ Positi
Slide 12: "Saltwash" Style Uranium and Vanadium Geology
OVERVIEW PROJECTS NEXT STEPS “Saltwash” Style Uranium and Vanadium For personal use only Geology ▪ “Saltwash Style” - Sandstone filled paleochannels hosting uranium and vanadium ▪ Laterally extensive deposits (kilometers), hosted mainly in the Salt Wash member of the Morrison Formation (Jurassic) ▪
Slide 13: Exploration Activities
OVERVIEW PROJECTS NEXT STEPS Exploration Activities For personal use only ▪ Surface Sampling - Returned high-grade uranium (up to 1.25% U3O8) and vanadium (up to 3.4% V2O5) ▪ Maiden Drilling Program – 15 Rotary holes; Confirmed uranium and vanadium mineralisation THOR ENERGY PLC 12
Slide 14: 2022 Maiden Drilling Program
OVERVIEW PROJECTS NEXT STEPS 2022 Maiden Drilling Program For personal use only ▪ Reconnaissance Program (15 Holes) Colorado Prospects ▪ Targeting the Salt Wash Sandstone ▪ Drilling testing high-grade uranium and vanadium mineralisation along strike at 3 areas: ▪ Rim Rock ▪ Groundhog ▪ Section 23 ▪
Slide 15: Section 23
OVERVIEW PROJECTS NEXT STEPS Section 23 For personal use only Colorado Prospects ▪ Section 23 had previously not been drill tested – no historic workings ▪ Targeting both the top rim and lower rim sandstone units of the Salt Wash Sandstone 14
Slide 16: Assays Validate Downhole Gamma and Highlight Vanadium Enriched Halo
OVERVIEW PROJECTS NEXT STEPS Assays Validate Downhole Gamma and Highlight Vanadium Enriched Halo For personal use only Uranium and Vanadium results : eU3O8 = Gamma and U3O8 = Assay Groundhog ▪ 2.1m @ 360ppm eU3O8 from 85m (22WBRA012A), including 0.3m @ 1400ppm eU3O8, and 1.5m @ 601ppm U3O8 and 2660p
Slide 17: Vanadium King, Utah
OVERVIEW PROJECTS NEXT STEPS Vanadium King, Utah For personal use only Previous Exploration Colorado Prospects ▪ Adjacent to Yellow Cat uranium historic workings ▪ 2 oil wells at the northern end of tenure recorded high gamma kicks at 117m reflecting the presence of uranium mineralisation Target are
Slide 18: REE/Copper Alford East, SA
For personal use only REE/Copper Alford East, SA
Slide 19: Copper in South Australia
OVERVIEW PROJECTS NEXT STEPS Copper in South Australia For personal use only Geology Colorado Prospects ▪ Substantial near surface oxidised copper mineralisation, usually malachite or azurite trending at depth to readily leachable chalcocite, above primary chalcopyrite. ▪ Leachable gold can also be
Slide 20: Alford East Copper-Gold Project: High-Grade Results
OVERVIEW PROJECTS NEXT STEPS Alford East Copper-Gold Project: High-Grade Results For personal use only ▪ Broad high-grade copper-gold results (>500ppm) – ideal for ISR Colorado Prospects ▪ Diamond drilling Phase 1 results included: ▪ 21AED005: 72.7m @ 1.0 % Cu and 0.19g/t Au from 6.3m, including 18.
Slide 21: High-Grade REE Discovery
OVERVIEW PROJECTS NEXT STEPS High-Grade REE Discovery For personal use only REE Review revealed: ▪ 8 out of 9 of the 2021 diamond drill holes intersected shallow wide zones of Alford Copper Belt highly enriched REE’s - Deep kaolinized clay and oxided ▪ Mineralisation from 6.3m troughs hosting REE an
Slide 22: High grade REE results (TREO 500ppm Cut-off)
OVERVIEW PROJECTS NEXT STEPS High grade REE results (TREO 500ppm Cut-off) For personal use only Hole ID From (m) To (m) Interval TREO % TREO ppm MREO ppm Colorado HREO ppm % HREO to TREO Prospects Cu % 21AEDD005 6.3 43 36.7 0.16 1577 399 662 42 1.20 including 17.8 23.8 6 0.31 3077 776 1495 49 2.10 I
Slide 23: Next Steps
For personal use only Next Steps Colorado Wedding News Bell Flow Project
Slide 24: Scheduled on Ground Exploration Activities
OVERVIEW PROJECTS NEXT STEPS Scheduled on Ground Exploration Activities For personal use only URANIUM REE/COPPER Wedding Bell and Vanadium King Projects Alford East Project ▪ Airborne Geophysics – over all 3 Projects ▪ Metallurgical assessment of REE & Copper-Gold recoveries ▪ Permitting drilling pr
Slide 25: Thor Energy (THR) – Key Takeaways
OVERVIEW PROJECTS NEXT STEPS Thor Energy (THR) – Key Takeaways For personal use only Uranium-Copper-REE - high value commodities with favourable fundamentals Mining friendly jurisdictions – no sovereign risk Strong pipeline of targets to drill test in 2023 Modest market cap – potential for significa
Slide 26: Thank You
For personal use only Thank You Nicole Galloway Warland nicole@energyplc.com Australian Office AIM/ASX: THR OTCQB: THORF
Slide 27: Supplementary Information
For personal use only Colorado Supplementary WeddingInformation Bell Project
Slide 28: Alford East - Inferred Mineral Resource Estimate
OVERVIEW PROJECTS NEXT STEPS Alford East - Inferred Mineral Resource Estimate For personal use only Inferred Mineral Resource Estimate for the Alford East Project 22nd January 2021 – 0.05% Cu cut-off (oxide material only) (ASX:AIM/THR 27 January 2021) Domain Tonnes (Mt) Cu % Au g/t Contained Cu (t)
Slide 29: Alford East REE Key Intercepts (TREO 500ppm Cut-off)
OVERVIEW PROJECTS NEXT STEPS Alford East REE Key Intercepts (TREO 500ppm Cut-off) (ASX:AIM:THR 24 April 2023) % HREO to Hole ID From (m) To (m) Interval TREO % TREO ppm MREO ppm HREO ppm Cu % For personal use only TREO 21AEDD001 17.4 25 7.6 0.07 703 172 128 18 0.11 and 55 58.7 3.7 0.07 681 139 308 4
Slide 30: Period Table – Rare Earth Elements
OVERVIEW PROJECTS NEXT STEPS Period Table – Rare Earth Elements For personal use only Heavy Rare Earths Light Rare Earths TREO = (Total Rare Earth Oxides) = (La2O3 + CeO2 + Pr6O11 + Nd2O3 +Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3) MREO = (Magnet Rare Earth
Slide 31: In Situ Recovery (ISR)
OVERVIEW PROJECTS NEXT STEPS In Situ Recovery (ISR) For personal use only ▪ ESG – Favourable alternative to traditional mining Colorado Prospects ▪ Low-cost / low environmental impact metal production ▪ Chemical process rather than a high-cost mining operation (no large pit / no crushing or grinding
Slide 32: Thank You
For personal use only Thank You Nicole Galloway Warland nicole@energyplc.com Australian Office AIM/ASX: THR OTCQB: THORF