Robust Drill Intersections Returned from Makosa North Prospect at the Douta Gold Project, Senegal
Robust Drill Intersections Returned from
Makosa North Prospect at the Douta Gold
Project, Senegal
Vancouver, British Columbia--(Newsfile Corp. - August 12, 2021) - Thor Explorations Ltd. (TSXV: THX)
(AIM: THX) ("
Thor
" or the "
Company
") is pleased to announce further drilling results from the northern
extensions of the Makosa mineralised trend at its Douta Project, Senegal. Wide-spaced exploratory drill
sections were completed over a 1,300m northern extension beyond the last line of drilling. Results
received to date indicate that gold mineralisation continues to the north and remains open-ended.
Highlights include:
Makosa North
Drillhole DTRC296
15m at 2.42g/tAu from 65m (includes 10m at 3.21g/tAu from 65m)
3m at 2.88g/tAu from 77m
Drillhole DTRC281
8m at 1.69g/tAu from 6m
16m at 1.58g/tAu from 17m (includes 3m at 5.53g/tAu from 19m)
Drillhole DTRC283
9m at 2.93g/tAu from 10m (includes 7m at 3.56g/tAu from 11m)
Drillhole DTRC311
10m at 1.42g/tAu from 48m
Segun Lawson, President & CEO, stated
"The drilling results from Makosa North are particularly exciting as they suggest that the Makosa gold
system continues further to the north than originally expected. Furthermore, several higher-grade
intersections were received that may suggest an increase in grade to the north. In addition, the last
section drilled on hole DTRC311 intersected 10m at 1.42g/tAu suggesting that the mineralisation is
open-ended to the north."
Introduction
The Douta Gold Project is a gold exploration permit that covers an area of 58 km
2
and is located within
the Kéniéba inlier, eastern Senegal (Figure 1). Thor, through its wholly owned subsidiary, African Star
Resources Incorporated ("African Star"), has a 70% economic interest in partnership with the permit
holder, International Mining Company SARL ("IMC"). IMC has a 30% free carried interest in its
development until the announcement by Thor of a Probable Reserve.
The Douta licence is strategically positioned 4km east of the Massawa North and Massawa Central
deposits which form part of the world class Sabadola-Massawa Project that is owned by Teranga Gold
Corporation (Figure 1).
The northern parts of the Makosa prospect were tested previously with wide-spaced reverse circulation
("RC") drilling with mineralisation being intersected on the last exploration drill line. Subsequently a follow
up programme was completed to test for possible extensions to the north in previously un-tested ground.
The results from this follow-up programme, as reported here, indicate continuing gold mineralisation to
the north.
Figure 1: Douta Project Location Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7003/92845_0a2290d87407d88a_002full.jpg
Drilling Results
The results from the exploratory RC drilling programme at Makosa North are shown in Table 1 and
Figures 2 and 3. The full table of results is attached in Appendix 1.
HOLE-ID
Easting
Northing
Elevation
Length (m)
From
(m)
To
(m)
Interval
(m)
Grade (g/tAu)
True Width
(m)
DTRC281
177098
1438174
195
42
6.0
14.0
8.0
1.69
5.8
17.0
33.0
16.0
1.58
11.5
includes
19.0
22.0
3.0
5.53
2.2
DTRC283
177162
1438260
194
42
10.0
19.0
9.0
2.93
6.5
includes
11.0
18.0
7.0
3.56
5.0
DTRC289
177593
1438746
195
64
21.0
34.0
13.0
1.19
9.2
includes
27.0
32.0
5.0
1.78
3.5
DTRC293
177755
1438838
197
66
10.0
20.0
10.0
0.83
7.2
DTRC295
177692
1438889
196
46
26.0
36.0
10.0
1.21
7.3
includes
27.0
33.0
6.0
1.60
4.4
DTRC296
177651
1438910
195
80
65.0
80.0
15.0
2.42
11.3
includes
65.0
75.0
10.0
3.21
7.5
DTRC301
177837
1439050
194
45
25.0
39.0
14.0
1.20
10.4
DTRC311
178059
1439395
187
60
48.0
58.0
10.0
1.42
7.0
Table 1: Makosa North Significant Results
(0.5g/tAu lower cut off; maximum 2m internal dilution, minimum 2m interval)
Drill samples were analysed by ALS laboratories in Mali using the AA26 fire assay method (50g
charge).
The Makosa North drilling has extended the mineralisation a further 1,400m to the north. Significantly, on
the last drill section hole, DTRC311 intersected 10m at 1.42g/tAu. This indicates that the mineralisation
remains open-ended to the north.
Drillholes DTRC 281 and DTRC283 were drilled at the ends of existing drill sections to test for across-
strike extensions of mineralisation with positive results including 16m at 1.58g/tAu and 9m at 2.93g/tAu
respectively. These results further resolve a pod of mineralisation that extends over a strike length of
nearly 800m.
Figure 2: Makosa North Drillhole Location Map
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7003/92845_0a2290d87407d88a_003full.jpg
Figure 3: Map showing significant results obtained in 2021 to date
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7003/92845_0a2290d87407d88a_004full.jpg
Qualified Person
The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP),
who is designated as a "qualified person" under National Instrument 43-101 and the AIM Rules and has
reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling,
analytical and test data underlying the information.
About Thor
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition,
exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor
holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and a 70% economic
interest in the Douta Gold Project located in south-eastern Senegal. Thor trades on the TSX Venture
Exchange and on AIM under the symbol "THX".
THOR EXPLORATIONS LTD.
Segun Lawson
President & CEO
For further information please contact:
Thor Explorations Ltd
Email:
Fig House Communications (Investor Relations)
Tel: +1 416 822 6483
Email:
Blytheweigh (Financial PR)
Tim Blythe / Megan Ray / Rachael Brooks
Tel: +44 207 138 3203
Canaccord Genuity (Nominated Adviser & Broker)
Henry Fitzgerald-O'Connor / James Asensio / Angelos Vlatakis
Tel: +44 (0) 20 7523 8000
Hannam & Partners (Broker)
Andrew Chubb / Matt Hasson / Nilesh Patel / Franck Nganou
Tel: +44 (0) 20 7907 8500
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
This press release does not constitute an offer to purchase securities. The securities to be offered in the
offering have not been and will not be registered under the United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or sold in the United States or to, or for the
benefit or account of, a U.S. person, except pursuant to an available exemption from such registration
requirements.
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes
"forward-looking statements" within the meaning of certain securities laws, and is subject to important
risks, uncertainties and assumptions
that could cause the actual results of the Company to differ
materially from the forward-looking statements. Such forward-looking statements, including but not
limited to, the Company's ability to fully finance the Project, to bring the Project into operation or to
produce gold from the Project, and the use of the proceeds.
The words "may", "could", "should",
"would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and
similar words and expressions are used to identify forward-looking information. The forward-looking
information in this news release describes the Company's expectations as of the date of this news
release and accordingly, is subject to change after such date. Readers should not place undue
importance on forward-looking information and should not rely upon this information as of any other
date.
While the Company may elect to, it does not undertake to update this information at any
particular time.
Appendix 1:
Makosa North RC Drill Results August 2021
HOLE-ID
Easting
Northing
Elevation
Length (m)
Azimuth
Dip
From
(m)
To
(m)
Interval
(m)
Grade
(g/tAu)
True Width
(m)
DTRC275
175028
1435431
166
44
130
-50
NSR
DTRC276
174935
1435258
172
90
130
-50
NSR
DTRC277
176838
1437988
192
150
130
-50
NSR
DTRC278
177007
1437985
197
96
130
-50
39
42
3
0.74
2.1
69
71
2
0.72
1.4
DTRC279
176894
1438077
195
156
130
-50
111
113
2
1.03
1.6
DTRC280
177009
1438248
197
138
130
-50
116
119
3
1.46
2.4
includes
117
119
2
1.81
1.6
DTRC281
177098
1438174
195
42
130
-50
6
14
8
1.69
5.8
17
33
16
1.58
11.5
includes
19
22
3
5.53
2.2
DTRC282
177073
1438331
196
156
130
-50
117
119
2
0.62
1.6
DTRC283
177162
1438260
194
42
130
-50
10
19
9
2.93
6.5
includes
11
18
7
3.56
5.0
DTRC284
177385
1438209
190
42
130
-50
33
37
4
0.72
2.9
DTRC285
177715
1438650
199
66
130
-50
NSR
DTRC286
177682
1438672
197
66
130
-50
NSR
DTRC287
177649
1438695
196
63
130
-50
10
12
2
1.11
1.5
DTRC288
177620
1438722
195
66
130
-50
14
22
8
0.59
4.1
DTRC289
177593
1438746
195
64
130
-50
21
34
13
1.19
9.2
includes
27
32
5
1.78
3.5
57
62
5
0.64
3.6
DTRC290
177559
1438768
193
66
130
-50
NSR
DTRC291
177818
1438789
199
60
130
-50
NSR
DTRC292
177786
1438814
198
66
130
-50
NSR
DTRC293
177755
1438838
197
66
130
-50
10
20
10
0.83
7.2
16
18
2
1.63
1.4
DTRC294
177724
1438865
196
66
130
-50
NSR
DTRC295
177692
1438889
196
46
130
-50
11
14
3
0.63
2.1
26
36
10
1.21
7.3
includes
27
33
6
1.60
4.4
DTRC296
177651
1438910
195
80
130
-50
57
61
4
0.64
3.0
65
80
15
2.42
11.3
includes
65
75
10
3.21
7.5
and
77
80
3
1.05
2.3
DTRC297
177622
1438939
195
54
130
-50
NSR
DTRC298
177931
1438976
195
66
130
-50
NSR
DTRC299
177900
1438999
195
66
130
-50
NSR
DTRC300
177868
1439025
195
60
130
-50
NSR
DTRC301
177837
1439050
194
45
130
-50
25
39
14
1.20
10.4
includes
27
38
11
1.36
8.2
DTRC302
177807
1439072
193
66
130
-50
NSR
DTRC303
177779
1439095
193
66
130
-50
NSR
DTRC304
178039
1439149
187
60
130
-50
NSR
DTRC305
178012
1439171
186
66
130
-50
NSR
DTRC306
177972
1439208
186
60
130
-50
42
51
9
0.54
6.5
DTRC306
53
56
3
1.04
2.1
DTRC309
178120
1439345
193
66
130
-50
7
13
6
0.71
4.3
DTRC311
178059
1439395
187
60
130
-50
48
58
10
1.42
7.0
DTRC314
174467
1434902
186
66
130
-50
61
64
3
2.30
2.2
DTRC315
174433
1434924
186
66
130
-50
14
17
3
0.52
2.2
DTRC315
29
33
4
0.56
2.8
DTRC315
41
43
2
0.87
1.4
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