Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Thor Explorations hails first drill results from Douta gold project, which confirms its prospectivity

Highlight assays included 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole
Thor Explorations hails first drill results from Douta gold project, which confirms its prospectivity
Highlight assays include 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole

Thor Explorations Ltd (CVE:THX) has unveiled a positive first set of drill assays from its Douta gold project in southeast Senegal, which confirms continuous mineralisation over a 3km  strike.

"These results confirm management's assessment of the prospectivity of Thor's Douta Project and builds on our 2017 exploration success," said Segun Lawson, the company's president and chief executive.

READ: Thor Explorations' Segilola high grade pit offers strong return on investment

"Notably, the results are comparable with other major deposits in the region, which raises the potential of a discovery emerging at a significant scale.

"Thor is looking forward to announcing the remaining results from the current programme in July and assessing mineral resource potential."

Thor said it had encountered near-surface gold mineralisation, along with continuous mineralisation down dip and over a 3km strike.

It is open on strike and at depth.

Highlight assays include 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole.

The same hole also yielded an intersection of 10 metres at 1.86 g/t (gram per ton) of the yellow metal.

Douta lies in the prospective, gold-endowed Birimian Greenstone belt in south-east Senegal, West Africa and is within 5km of Randgold's 3.6 Moz (million ounce) Massawa resource.

The Makosa discovery is the first of several significant exploration targets to be drilled by Thor within the project.

So far, 13 holes for 1,531m and 24 RC drillholes for 2,000m have been completed over the Makosa prospect and 7,800m of the planned 8,000m have been completed in the 2018 RC (reverse circulation) program over a strike length of around 2.2km.

Shares were unchanged at C$0.195.

View full THX profile View Profile

Thor Explorations Ltd. Timeline

August 06 2018

Related Articles

Mt Marion lithium mine
August 23 2018
The company is in the process of demerging its titanium and vanadium assets.
May 22 2018
New money allows Scotgold to proceed with long-awaited redevelopment of Cononish
Otis Gold makes leap at Kilgore with improved indicated resource as CEO upbeat about size of project
August 21 2018
Significantly, the higher confidence indicated resource has been lifted by 59% compared to a previous report six years ago.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use