Thor Explorations Ltd (CVE:THX) has reported what it called an “encouraging” set of drill results from the southern Makosa Tail Prospect at the company’s Douta Project in Senegal, which included 5 metres (m) of 14.38 grams per tonne (g/t) gold from a depth of 36m.
The company noted that the exploratory drilling program was designed to test the mineralisation along strike and down-dip from the mineralisation delineated from previous drill programs on Makosa, with results to date confirming the continuation of the Makosa mineralised system along strike to the south.
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“We are thrilled with these drill results. We are particularly pleased with the uplift in grade of the intersections which are all in a previously untested area,” Thor Explorations CEO Segun Lawson said in a statement.
He added: “The Makosa Tail Prospect is open to the north and possibly to the south and we look forward to investigating if the mineralisation extends to the Makosa mineralised system. Makosa as a whole continues to grow with our drilling and understanding of the geology and we are excited about the next phase of drilling scheduled to start this month.”
The company also said it has confirmed the Makosa Tail Prospect mineralisation in more than 1,000m of strike length in a number of parallel lodes, including a 300m high-grade zone in a previously untested area.
Thor Explorations noted that there is a 1,600m strike length between Makosa Tail and Makosa that is yet to be drill-tested. It added that the mineralisation remains open-ended to the north, south and at depth.
The company noted that it plans to conduct systematic infill and step-out drilling to fully assess the ever-increasing scale of the project.
The Douta exploration project lies within five kilometres of Senegal's largest undeveloped gold resource, namely the 4.4 million ounce (Moz) Massawa deposit, which was recently sold by Barrick Gold Corp (NYSE:GOLD) to Teranga Gold Corp (TSE:TGZ) for up to US$430 million.
Contact Sean at sean@proactiveinvestors.com