Thor Explorations reaches steady state production at Segilola gold mine
TSX-listed Thor Explorations’ operations at the Segilola gold mine, in Nigeria, performed in line with forecasts for the first quarter of this year and remain on track to meet full-year guidance of between 80 000 oz and 100 000 oz.
A throughput of 221 920 t with an average head grade of 3.18 g/t gold, and an overall recovery rate of 94.1%, resulted in gold production of 21 343 oz for the quarter.
For the month of March, in particular, the Segilola process plant operated at above design mill throughput, with 69 907 t of ore processed at an average head grade of 3.38 g/t gold, and a higher recovery rate of 95.1%, to deliver 7 220 oz of gold.
Thor reports that it started commissioning a compressed natural gas generator at the mine towards the end of the quarter, which will result in the process plant using natural gas instead of diesel from the second quarter of the year.
“With Segilola now in a steady state of production, we will provide quarterly updates going forward,” the company explained, adding that it expected more improvements in production and additional results from exploration drilling in coming quarters.
The company is undertaking exploration drilling at Segilola and at its 70%-owned Douta gold project, in Senegal.
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