Thor Energy PLC on Monday said it will collaborate with Fleet Space Technologies Pty Ltd to carry out ambient noise tomography surveys at the Alford East Copper-REE project in southern Australia.
The London-based uranium and vanadium explorer said Fleet’s Exosphere technology will be used to scan the ground using an advanced ANT seismic tomography technique to delineate the troughs that host oxide copper mineralisation within the Alford copper belt.
Thor said the results from the surveys will be ‘pivotal’ in the decisions it takes for future drilling campaigns.
An unnamed investment fund associated with Fleet Space will make a direct equity investment of $250,000 in Thor through a share subscription of $0.04 per share.
Fleet Space is an Adelaide, Australia-based company offering its technologies to the space and mineral exploration industries.
Thor Managing Director Nicole Galloway Warland said: ‘Thor is delighted to have formed a collaborative partnership with Fleet Space Technologies to accelerate mineral exploration at our Alford East Copper-REE project.’
Shares in Thor Energy were down 2.25 at 1.76 pence each in London on Monday morning.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
