Minerals exploration and mining company Thor Explorations is “extremely encouraged” by the first set of results from its initial drilling campaign being undertaken on one of the company’s prospects located in the West Oyo project area, in Nigeria, to confirm and delineate lithium-bearing mineralisation, such as spodumene and lepidolite, at depth.
Spodumene has been confirmed as the main lithium-bearing mineral, together with minor lepidolite; and mineralisation is exposed at surface and is shallow dipping.
“This is the first area of our portfolio we have drilled and we are looking forward to both continuing the drill programme on this prospect and extending the drilling over the other lithium-bearing pegmatites within our portfolio in Oyo state,” CEO and president Segun Lawson highlights.
Thor currently operates the Segilola gold mine in Nigeria. As part of its strategy of identifying high-value mineral resource opportunities, Thor, through its fully-owned subsidiary Newstar Minerals, has acquired significant exploration tenure in south-west Nigeria that covers both known lithium-bearing pegmatite deposits and a large unexplored prospective pegmatite-rich belt.
“Our objective is to expand our exploration activities and drilling programme to the other pegmatites within our permits and commence exploration activities over the larger extent of all our permit areas in Nigeria.
“With the forecasted lithium market deficit expected to grow out by 2040, with an untapped lithium potential in West Africa, we believe it is a great opportunity to help diversify our existing gold production,” Lawson explains.
Moreover, the company has continued to add further permits containing lithium-bearing pegmatites to its portfolio.