Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) Nicole Galloway Warland explains the drilling plans for its Wedding Bell and Radium Mountain Projects in Colorado.
Nicole Galloway Warland: We're back on the ground preparing for our upcoming drilling program, which involves doing the site preparation and environmental tech.
The drilling contractors shall be onsite in October and we looking forward to getting on the ground at Rim Rock and Groundhog, which are our priority projects.
Proactive: When would you expect to start that drilling?
Nicole Galloway Warland: We expect to start in early October. I wouldn’t say right at the very beginning, but certainly, the first week of October.
Proactive: Can you take us through what’s planned with that program and what the ultimate target is?
Nicole Galloway Warland: For our Wedding Bell project, we're going to be following up on successful drilling from our 2022 and 2023 programs, really focusing on Rim Rock and Groundhog.
For example, at Groundhog, we're going to be doing some infill holes around hole 20, where we got about five meters at 0.1% uranium and 0.6% vanadium.
So we're doing infill holes around that area and then stepping out about 300 meters to the east, along strike, to look at the potential extension of that mineralisation.
The objective is the same at Rim Rock, and by the end of the program, we hope to have enough data to move forward with a resource estimate.
Proactive: You announced in August that all approvals were in place for this, so you can move ahead?
Nicole Galloway Warland: In Colorado, we have a bit of a process. We are on federal land, Bureau of Land Management land (BLM), but out of courtesy, we also go through the state as well as the counties for approval.
So those approvals are all in place now, and we look forward to getting on the ground.
Proactive: What sort of news flow should we be looking out for?
Nicole Galloway Warland: We’ll highlight when the rig starts turning. And because we do downhole geophysics, we should start to get results fairly quickly. So I'd say after the first two holes, we should start to see some results coming through.