Thor Explorations Ltd. (TSXV: THX) (AIM: THX) has obtained positive initial drilling results from a reconnaissance drilling programme that is currently underway at the company’s Western Prospects that are located approximately 15km to the west of the company’s wholly-owned Segilola Gold Mine in Nigeria.
Thor, is a West African focussed minerals exploration, development and mining company. In Nigeria, the company recently brought the Segilola Gold Mine into operation, producing 98,008oz of gold in 2022, its first calendar year of operation and is actively progressing gold exploration and assessing other high-value mineral resource opportunities in the country. The company is also advancing the Douta Gold Project in Senegal which currently comprises an Inferred Resource of 730,000oz of gold, grading at 1.53g/t.
Highlights include:
- Drillhole SGD238 2m at 227g/tAu from 80m, includes 1m at 310g/tAu (equivalent to 10oz Au/t)
- Drillhole SGD235 3.1m at 14.32g/tAu from 28m
- Drillhole SGD236 2m at 6.24g/tAu from 46.5m
Initial conclusions
- High-grade gold anomalism has been defined by exploratory geochemical programmes comprising soil/auger and rock chip sampling. The first holes of the initial drilling program on the primary geochemical target have returned high grade gold intersections from a sub-vertical narrow quartz vein system.
- Parts of this vein system contain grades of 1.0m at 310g/tAu which equates to 10oz of gold per ton.
- There are several additional targets in the area that require drill testing.
- There is potential for additional high-grade deposits in this area.
- With further exploration success, this area may provide an important satellite source of high-grade material for the Segilola Gold Mine
“I am thrilled to announce these drilling results that include an intersection grading 227g/tAu over a length of 2.0m. Within this intersection is a 1.0m length that carries ten ounces per ton. As you would expect, visible gold is prevalent throughout the core from this and the other significant intervals,” President and CEO, Segun Lawson, said.
“These results are the culmination of systematic and persistent exploration work leading to the discovery of this high-grade mineralization. Importantly, it demonstrates the significant exploration potential outside of the immediate Segilola mine precinct.
“Our strategy is to develop the Western Prospects together with other such opportunities located within a 25km radius of Segilola, to provide a pipeline of high-grade material that will extend the current four years of production at Segilola.”
Background
The Western JV Prospects are located about 15km directly west from the Segilola Gold Mine and cover mostly amphibolitic rocks that contrast with the more gneissic terrain that is developed at Segilola itself. The Western Prospects comprise several exploration permits that are held under exercised option agreements. The area is easily accessed through a series of sealed roads and gravel tracks.
To date, exploration has comprised grid-based soil geochemical sampling using a hand-held auger drill and rock chip sampling of exposures located mostly inside shallow, abandoned, artisanal diggings. In the central parts of the Western Prospects, the sampling has defined an area measuring approximately three km along strike and one km wide that is oriented in a north-westerly direction.
For further information please visit: https://thorexpl.com/
