Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has unearthed a new gold discovery within its Douta-West licence.
Initial drilling at the Douta gold project in Senegal – testing the Baraka 3 prospect – returned highlight assays of 2.46 grams per tonne over 19 metres, and 1.31 g/t over 26 metres. These two holes were drilled 100 metres apart.
These initial results confirm that further upside exists to the Douta project, chief executive Segun Lawson said in a statement.
"We are thrilled to drill our first discovery holes on the Douta-West licence, which we acquired in Q1 last year,” Lawson said.
“These holes intersected wide high-grade gold mineralisation which could complement the existing resource of the Douta project.”
Thor also today reported drill results from Douta’s Makosa North, Makosa and Makosa Tail deposits – with highlight assays including 9 metres at 2.06 grams per tonne gold and 3 metres at 5.30 grams per tonne gold.
Here, the aim was to test depth extensions, and potentially upgrade current inferred resources to up to the indicated classification.
The company intends to give investors an updated timeline for the Douta pre-feasibility study (PFS), including the latest drill results and new resources.
"We are preparing the Douta PFS for a technically robust and optimal economic outcome which will be significantly derisked and positioned to be fast-tracked to a Definitive Feasibility Study and subsequently, an investment decision,” Segun Lawson added.