THOR History
Thorium is discovered by a Norwegian mineralogist.
In its purest form it can ignite when exposed to air and has a half-life nearly as long as the universe is old, 14.05 billion years. No wonder it is named after Thor, the God of thunder.
It’s the Roarin’ 20’s and the US sets off on a century of innovation.
Geology PhD and President of the Geological Society of America, Dr. Chester Ray Longwell, breaks ground in the Basin and Range province in Nevada, kicking off exploration for the materials to help build the future.
The atomic age is in full swing, promising an era of limitless power.
The Atomic Energy Commission (now the Department of Energy) discovers the potential in the Basin and Range province and offers cash rewards to anyone that finds uranium deposits – using Dr. Longwell’s helpful research to aid their search.
They don’t find uranium. What they find is Thorium, a pathfinder to the discovery of rare earth elements. They find so much that the property is aptly named THOR.
They don’t find uranium. What they find is Thorium, a pathfinder to the discovery of rare earth elements. They find so much that the property is aptly named THOR.
A 1955 report by the Atomic Energy Commission is de-classified
and the U.S. Bureau of Mines reports the site to have 30% apatite and 20% monazite, with rare earth oxide at 6.81%! * (historical results are not 43-101 compliant) However, since the economic use of rare earths was not yet discovered, the property was left underexplored.
*Disclaimer: A Qualified Person has not verified these historical sample results and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results.
Rare earths neodymium, praseodymium, terbium, dysprosium make their entrance
when Japanese scientist, Masato Sagawa, invents the rare earth-iron-boron (NdFeB) permanent magnet for use in high-efficiency motors, generators, and other devices.
Elissa Resources (now NexOptic) acquires the THOR property.
Historical surface results show up to 12.4% * total rare earth oxide (not 43-101 compliant) and district scale surveys show new areas for exploration.
*Disclaimer: A Qualified Person has not verified these historical sample results and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results.
The rare earth cycle peaks
with an “unofficial” and temporary embargo of rare-earth shipments to Japan that alerts the world to China’s dominance in rare earths. This leads to companies stockpiling rare earths.
Stockpiling peaks, and a rapid drop in demand follows, leaving global rare earth companies shaken. Despite this, NexOptic holds onto the property, knowing its dormant potential.
Stockpiling peaks, and a rapid drop in demand follows, leaving global rare earth companies shaken. Despite this, NexOptic holds onto the property, knowing its dormant potential.
From electric vehicles and wind turbines to consumer electronics,
the demand for rare earth minerals grows along with our love for technology and sustainability. Rare earth prices begin to surge due to the boom in demand and concerns mount that dominant producer China could seek to limit rare earths exports and tighten control of a strategic industry.
The USA steps up efforts to create a domestic rare earth supply chain and prompts more investment into the rare earth sector and the recovery of the rare earth market. With big USA grants to follow, a new cycle for rare earths takes off.
The USA steps up efforts to create a domestic rare earth supply chain and prompts more investment into the rare earth sector and the recovery of the rare earth market. With big USA grants to follow, a new cycle for rare earths takes off.
To kick off the new decade, Selten Metal and NexOptic enter a Definitive Agreement
whereby NexOptic grants to Selten Metal the option to earn up to a 100% interest in its wholly-owned, Heavy and Light rare earths elements project: THOR.
The next era of exploration begins.
The next era of exploration begins.
Operational Update: surface assays at THOR returned up to 6.4% TREO (total rare earth oxide)
Reports 6.4% and 6.3% TREO from Extensive Surface Assay Program, Including Channel Sampling on the THOR Heavy & Light Rare Earth Element Project, Southern Nevada.
