Thor Mining updates on plans for March quarter of 2021

Thor Mining PLC (LON:THR) has updated investors on the outlook for its projects in the March quarter of 2021.

In a quarterly update, the AIM-listed company said for the first quarter of the year a program of field sampling and drill access permitting is planned for its Ragged Range gold project in Western Australia, as well as an initial 3,000-metre drill program.

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Meanwhile, Thor said there will be preparation for resource extension drilling and testwork at its Alford East copper project in South Australia, while at the Kapunda site in the same territory it is planning geotechnical and gold focussed drilling, additional borehole hydrogeological testing and the commencement of SELT drilling and copper and gold recovery testing.

For its uranium and vanadium project portfolio in the US, Thor said it will prepare for an initial 900 metres of drill testing at its claims in Colorado, while in the company’s tungsten portfolio it said it is in ongoing discussions with Australian government agencies, potential financiers and partners regarding its Molyhil project in the Northern Territory as well as continuing attempts to secure investment for its Pilot Mountain project in Nevada, USA.

“We look forward to the next phases of work involving drilling at Ragged Range and also at the US uranium-vanadium project in Colorado, along with resource extension work and ISR testwork at Alford East”, Thor’s executive chairman Mick Billing said in a statement.

“The 2021 program at the Kapunda ISR copper project is expected to be project defining with gold focussed drilling, & Field SELT trials also about to commence. This work is aimed at delivering the final stage of technical production feasibility for the ISR process at Kapunda”, Billing added.

Shares in Thor were 2.5% lower at 0.9p in early deals on Friday.