Thor Energy (AIM:THR) shares gained 25% to 0.75p after it published preliminary Phase‑2 surface hydrogen results.
Phase‑2 corroborated and expanded on Phase‑1 results (which peaked at 3,000 ppm) by confirming anomalous geochemistry across Mallala, Lochiel and Crystal, and the company describes HY‑Range as a core licence in its hydrogen, helium and energy‑metals exploration portfolio.
Thor refined a mobile gas chromatography sampling programme during Phase‑2, varying depth, long‑duration sampling, hole‑lining materials and controls to reduce contamination risk, and reports multiple locations where Phase‑2 values exceeded the Phase‑1 peaks, including a neighbouring 1.5% result.
"We now have a robust, reliable dataset that shows compelling relationships between surface anomalies and the interpreted crustal faulting required to focus economic volumes," Andrew Hume, Managing Director, said.
Thor said it is finalising the award of a major 2D seismic acquisition across RSEL 802 to illuminate Lochiel and Crystal, to mature definitive drilling targets, and that it is fully self‑funded to undertake the programme without shareholder dilution.
Thor published the preliminary Phase‑2 results via an RNS and expects to announce the seismic award shortly.
