Drilling starts on Thor's Senegal assets

12th March 2018 By: Henry Lazenby - Creamer Media Deputy Editor: North America

Drilling starts on Thor's Senegal assets

Thor Explorations starts drilling at Douta, Senegal
Photo by: Thor Explorations

VANCOUVER (miningweekly.com) – Toronto-quoted exploration junior Thor Explorations has puller the trigger on an 8 000 m reverse circulation (RC) drilling programme on its Douta project, in south-east Senegal.

This programme follows on from its successful 2017 RC drilling programme that had identified a number of wide, near-surface significant intersects on the Makosa prospect, in the Douta project, notably 10 m at 8.1 g/t gold, including 7 m at 10.9 g/t gold.

The TSX-V-listed company also underlined other highlights of the 2017 RC programme such as the near-surface gold mineralisation; 10 m true width at 8.1 g/t gold, including 7 m true width grading 10.9 g/t gold; 19 m true width at 2 g/t gold, including 10 m true width at 2.8 g/t gold and 13 m true width at 2.1 g/t gold.

Thor also pointed to a number of holes ending in mineralisation, indicating potential for extensions to mineralisation at depth.

The team has traced the mineralisation to be open along strike and down dip, based on current data. The 2018 RC programme has been designed to target the mineralisation zone delineated by the 2017 RC drilling programme at both down dip and along strike.

Thor is currently advancing two high-value gold projects in West Africa. It holds a 70% interest in the Douta gold project. The Douta gold project lies within the Kénéiba Inlier, which hosts significant gold resources and has attracted major international mining companies. Thor is currently advancing the Makosa discovery at Douta following a successful RC drilling campaign in 2017.

Thor's most advanced project is the Segilola gold project, located in Osun state, Nigeria, which is considered Nigeria's most advanced gold project, holding an indicated resource of 556 000 oz grading at 4.2 g/t, an inferred resource of 306 000 oz grading 4.7 g/t and a probable reserve of 448 000 oz grading 4.2 g/t.

In addition to the Segilola project, Thor also holds a 49% interest in the Central Houndé project, Burkina Faso.

The company's TSX-V-listed equity slid 5.26% to C$0.18 a share on Monday, in step with broad selling on the S&P/TSX Venture Composite Index.