Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has announced drill-intersections of significant gold mineralisation from the Makosa gold deposit at its Douta Gold Project, Senegal.
The Douta Gold Project encompasses the Makosa gold deposit which currently comprises an Inferred Resource of 730,000 ounces of gold (Au), grading at 1.53 grams per ton (g/t), as announced in its maiden Mineral Resource Estimate (MRE) published on 18 November 2021.
A comprehensive 26,000 metre exploration program of reverse circulation (RC) drilling has been ongoing at Douta during 2022, which was designed to upgrade parts of the existing resource and to specifically target potentially higher-grade parts of the deposit.
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Further to the initial drilling results published on 16 November and 12 September 2022, the company has published results from the final 8,000 metres drilled.
Highlights include:
- Drillhole DTRC596 40m at 1.95 g/t Au from 0m
- Drillhole DTRC640 26m at 4.66 g/t Au from 42m including 10m at 10.29 g/t Au
- Drillhole DTRC612 32m at 1.45 g/t Au from 43m
- Drillhole DTRC620 9m at 11.74 g/t Au from 58m
- Drillhole DTRC626 9m at 4.18 g/t Au from 0m
- Drillhole DTRC624 16m at 2.20 g/t Au from 85m
- Drillhole DTRC637 38m at 1.01 g/t Au from 42m
- Drillhole DTRC641 31m at 1.40 g/t Au from 97m
- Drillhole DTRC658 37m at 1.18 g/t Au from 37m
In a statement, Segun Lawson, president and CEO of Thor said: "We are pleased to announce further significant and robust drilling results from the Makosa Prospect. These results are impressive and highly encouraging in the context of the Douta Project and conclude a highly successful drilling season on a celebratory note.
"The wide zones of near-surface oxide mineralisation combined with solid higher-grade zones at depth provide the encouragement and impetus to propel the next phase of advancing this very exciting project in the New Year. In the coming year we plan to maintain focus both on resource growth and project development in Senegal to meet our objective of bringing the company's second gold mine into production."
The company has now received all outstanding drilling results from the Makosa drilling campaign and now awaits the results from the infill programs carried out at the Mansa and Maka Prospects. These results are expected in early 2023.
Thor Explorations is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso.
The company holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria. Mining and production commenced at Segilola in 2021. Thor holds a 70% interest in the Douta Gold Project located in south-eastern Senegal.
Contact the author at jon.hopkins@proactiveinvestors.com