KEY PLAYER The Douta project, with its promising gold discoveries, positions Thor Explorations as a key player in West Africa's mining sector
West Africa-focused gold explorer and producer Thor Explorations has recognised the vast opportunities presented by Nigeria’s underexplored geological assets and has embarked on a mission to harness its untapped potential, Thor Explorations CEO and president Segun Lawson tells Mining Weekly.
The company’s recent accomplishments at its Douta gold project, in Senegal, exemplify its vision and commitment to unlocking the geological riches of West Africa.
The project encompasses the Sambara prospect and Makosa gold deposit, a site that has yielded “substantial” gold mineralisation and is poised to “reshape the regional mining landscape and further solidify Thor Explorations’ position as a gold producer”, adds Lawson.
The Makosa gold deposit currently comprises a total resource of more than 1.7-million ounces of gold comprising an indicated resource of 20.2-million tonnes grading 1.3 g/ gold for a total resource of 874 900 oz, with an inferred resource of 24.1-million tonnes grading 1.2 g/t gold for a total resource of 909 400 oz.
A 15 000 m reverse circulation, infill drilling programme targeted the inferred resource’s material within the optimised pit shells earlier this year to convert this material to the indicated resource classification.
In addition, a diamond drilling programme has been completed within the Makosa and Makosa Tail areas to obtain samples for detailed metallurgical and geotechnical testwork. Further exploration drilling was also completed at the Sambara prospect, the company reports.
The company also announced the discovery of a new prospect, Makosa East, in August following the drilling of mineralised intersections.
The main purpose of the drilling was to advance the project towards development by upgrading more of the resource to the indicated classification, and to start detailed metallurgical testwork that is focused on achieving the most suitable and efficient ore treatment and extraction process, Lawson says.
“Once all the drilling results are in, we look forward to updating our mineral resource estimate this year to form the basis of a prefeasibility study (PFS),” he adds, noting that the company hopes to complete this by the end of 2023, and if not, during the first quarter of 2024.
Following the outcome of the PFS, the miner intends to advance plans for a bankable feasibility study in 2024, which Lawson hopes will provide the miner with an opportunity to further develop its objectives in West Africa.
He further emphasises the strategic significance of the Douta project, noting that beyond these immediate achievements, the company envisions a broader future across West Africa, driven by the exploration of Nigeria's underexplored geological terrain.
Nigeria presents a significant opportunity for Thor Explorations’ portfolio, serving as a platform for organic growth and establishment in this underappreciated region.
Thor Exploration's record in developing a large-scale gold mine in Nigeria coupled with its expanding portfolio of early-stage lithium licences, underscores its commitment to long-term expansion, adds Lawson.
The Douta project, with its promising gold discoveries, positions Thor Explorations “as a key player in West Africa's mining sector, primed to deliver substantial value to its shareholders”.
Thor Explorations plans to maintain focus on project development in Senegal to bring the company’s second gold mine into production.