The directors of Thor Energy Plc (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce new Rare Earth Element (REE) drill results from a review of the previously announced 2021 Copper and Gold drilling at the Alford East Project, South Australia (SA).

• A REE review has revealed that eight out of nine of the 2021 diamond drill holes intersected wide zones of highly enriched REE’s in kaolin altered, copper rich oxide zones of IOCG style mineralisation.

• Mineralisation is open over a ~5km trend as none of the remaining historical drilling at Alford East, to the best of the companies knowledge, has ever been assayed for REE’s.

I am absolutely delighted to report these thick zones of shallow, high-grade REE intercepts, found to be associated with oxide copper-gold mineralisation at the Alford East Project.

This batch of results compares very favourably in terms of depth, thickness and grade to its peer group in the fledgling Australian REE sector.

Importantly, this discovery has significant potential to be a large deposit based on the ~5km lateral extent of the north-south trending, structurally controlled troughs hosting IOCG mineralisation. It is promising that aside from the nine 2021 diamond drill holes reported today, none of the other historic drilling at Alford East is known to have ever been assayed for REE content.

Priority drill programme design is underway in conjunction with detailed geochemical reviews of the historic drilling, along with further studies on the nature of the REE mineralisation encountered to date.

– Managing Director Nicole Galloway Warland