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Thor Energy Partners with DISA Technologies to Remediate Abandoned Colorado Uranium Mines

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By Colin Hay - 
Thor Energy ASX THR Partners DISA Technologies Remediate Colorado Uranium Mines
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Thor Energy (ASX: THR) has finalised plans with DISA Technologies to investigate the use of unique technologies to treat selected waste dumps at abandoned mines in Colorado, with the aim of recovering saleable uranium and other critical mineral concentrates.

DISA recently became the first company in the US to receive a final service providers license (SPL) from the country’s Nuclear Regulatory Commission (NRC), which allows it to remediate uranium mine waste through the use of its patented high-pressure slurry ablation (HPSA) system.

The HPSA technology uses a mechanical chemical-free process to remove radionuclides and metals from mine waste, creating two solid media outputs while cleaning up the dumps by removing an average 90% of the uranium and radium-226 content from the waste.

Revenue Generation Potential

Thor holds 25% ownership rights to uranium minerals via its US subsidiary Standard Minerals, with London-listed Metals One holding the remaining 75%.

Standard has ground-surveyed thirteen separate prospective waste dumps at its Colorado projects, with the potential to do likewise in the future at other projects in its portfolio.

DISA will operate the Colorado projects and pay all associated costs of economic evaluation, permitting, treatment, and ongoing remediation.

Standard will receive a percentage of gross product sale revenue stream, less certain post-treatment costs, under a sliding scale from 2.5% to 4.0% depending on metals pricing environments at the time.

Australian Hydrogen Hopes

Proceeds from the new collaboration will support Thor’s major focus on hydrogen and helium exploration and development in Australia.

Thor has identified a number of high-impact drill targets at its High Range project in South Australia, and is currently preparing for a maiden drilling campaign across the 6,500-square-kilometre tenement area.

The recent success of neighbour Gold Hydrogen (ASX: GHY), which hit significant hydrogen and helium intersections at its Ramsay project, has greatly boosted Thor’s confidence in High Range’s potential.