(Alliance News) - Thor Energy PLC on Monday said that uranium-vanadium assay results from the Edna Mae prospect had shown the presence of high-grade copper.
According to the exploration company, which has prospective projects in Australia and the US, rock chip sampling at the Edna Mae prospect returned up to 5,424 parts per million triuranium octoxide, 1.6% vanadium oxide, and 2.7% copper.
The Edna Mae prospect sits on the edge of the Paradox copper belt, which hosts the producing Lisbon Valley copper mine.
The results, Thor Energy explained, came from a regional surface sampling program on the company's Wedding Bell and Radium Mountain projects, located in the Uravan Mineral Belt in southwest Colorado.
"We are continuing our regional reconnaissance surface sampling program with exciting high-grade results and building additional drill targets to our priority Rim Rock and Groundhog prospects," said Managing Director Nicole Galloway Warland.
"2024 drilling preparations are in progress, with the intention of maiden drilling at Vanadium King project, and we look forward to updating the market in due course."
Shares in Thor Energy were trading 5.6% higher at 0.95 pence each in London on Monday afternoon.
By Holly Beveridge, Alliance News senior reporter
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Thor Energy (THR)