Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has announced the start of the 2022 exploration campaign at its Douta Gold project in Senegal.
The Vancouver, British Columbia-based mineral exploration company said the Douta Gold project encompasses the Makosa Gold Deposit which currently comprises an Inferred Resource of 730,000 ounces of gold as revealed in its maiden Mineral Resource Estimate (MRE), published on November 18, 2021.
A comprehensive exploration program, that starts with a first phase of 5,000 metres of reverse circulation (RC) drilling, has been designed to extend the strike extensions of the resource which remains open-ended along strike to the north.
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This year, the company said, the work program which includes an additional 25,000 metres of RC and diamond drilling, is also targeting an upgrade to the existing resource at Makosa and testing three priority targets within the licence.
In a statement, Thor Explorations CEO Segun Lawson said: "The Makosa resource of 730,000 ounces of gold provides a solid base for growth. Our exploration efforts are now focused on expanding the resource along the prospective corridor that runs along the full 30-kilometer (km) length of our exploration licence.”
He added: “Priority during the first phase of drilling will be given to extensional drilling at Makosa North where the mineralisation remains open-ended towards the north-east. We are equally excited with the greenfield discovery Mansa, which is located on the same structure as Makosa. We look forward to keeping the market updated on the progress of the drilling program at Douta."
Segilola Gold Mine
Meanwhile, the company also threw light on operations at its 100% owned Segilola Gold Mine in Nigeria which continued to perform at budget and design capacity without any unplanned stoppages during January.
Total gold production for the month, was 7,041 ounces with regular gold exports occurring without any issues, said the company.
The Segilola process plant is now running continuously above the design mill throughput, with 75,714 tonnes of ore processed during the month, a 19.2% increase over December, at approximately 3 grams per ton (g/t), it added.
Thor said the gravity circuit also outperformed its design specification, with a recovery of over 60%. The overall gold recovery during January was 93%, noted the company.
As previously disclosed, Thor anticipates producing 20,000 to 22,000 ounces (oz) during Q1 2022 and full-year production for 2022 of 80,000 to 100,000 oz.
"At the Segilola Gold Project in Nigeria, we have had a solid start to the year with the plant performance, gold production and gold shipments all improving month-on-month," added Lawson.
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