TSX-V-listed company Thor Exploration has regained a 100% interest in the Central Houndé project, in Burkina Faso, after terminating a 2015 earn-in agreement with major Barrick Gold.
Thor has acquired Barrick’s 51% ownership of the project, consisting of three early-stage exploration permits, in exchange for a 1% net smelter royalty.
“We are pleased to have regained a 100% interest in the Central Houndé project which lies in one of West Africa’s highly regarded Birimian greenstone belts,” said Thor president and CEO Segun Lawson.
He stated that Thor’s development activities remain focused on its Segilola gold project in Nigeria, where construction was well advanced and it is on track for first gold pour in June this year.
“At our advanced exploration project, Douta, in Senegal, following the success of our recent drilling programmes at Douta North and Douta Tail, we have initiated a supplementary drilling programme to assess the potential extension of the identified additional mineralisation.”
“The Central Houndé project adds further depth to the Company’s exploration portfolio, which supports the Company’s strategy to become a leading West African gold producer and developer.”