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Thor Exploration acquires licences in Senegal

3rd April 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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TSX-V- and Aim-listed Thor Exploration has completed the acquisition of interests in two licences in southeast Senegal where it is currently advancing the Douta gold project to a preliminary feasibility stage.

The company has acquired an up to 85% interest in the strategically located Douta-West licence, which lies contiguous to the Douta project, and an up to 80% interest in the Sofita licence, located about 20 km south of the project.

The Douta-West licence contains advanced exploration targets and provides immediate additional exploration potential to the Douta project.

Drilling programmes at the Douta project, scheduled for the second quarter of this year, will be extended to Douta-West.

“We are pleased to acquire additional, strategically located, ground in Senegal where we have been successfully operating and advancing the Douta gold project for a number of years. We are currently carrying out our PFS workstreams at the Douta gold project and look forward to now completing this during the third quarter, following finalisation of the process flow sheet.

“The acquisition of the Douta-West permit, which has a number of geochemical targets, allows us to potentially add scale to the Douta gold project, in particular, extensions to Makosa Tail. We look forward to commencing exploration on this new permit with our existing exploration team and fro explom ourration camp at Douta,” says Thor CEO and president Segun Lawson.

The company also owns the Segilola gold mine, in Nigeria, which it expects to produce between 95 000 oz and 100 000 oz this year. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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