Thor Explorations Returns Significant Gold Grades and Widths from Latest Drilling Intersections at The Douta Gold Project, Senegal
Thor Explorations Returns Significant Gold
Grades and Widths from Latest Drilling
Intersections at The Douta Gold Project,
Senegal
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2022) - Thor Explorations Ltd. (TSXV:
THX) (AIM: THX) (
"Thor"
or the
"Company"
) is pleased to announce drill-intersections of significant
gold mineralisation from the Makosa gold deposit (
"Makosa")
at its Douta Gold Project, Senegal (the
"Douta Project"
).
The Douta Gold Project encompasses the Makosa gold deposit which currently comprises an Inferred
Resource of 730,000 ounces of gold, grading at 1.53 grams per ton (
"g/t"
), as announced in its maiden
Mineral Resource Estimate (
"MRE"
) published on 18 November 2021.
A comprehensive 26,000 metre exploration program of reverse circulation (
"RC"
) drilling has been
ongoing at Douta during 2022, and was designed to upgrade parts of the existing resource and to
specifically target potentially higher-grade parts of the deposit. Further to the initial drilling results
published on 16 November and 12 September 2022, the Company today publishes the results from the
final 8,000 metres drilled.
Highlights include:
Drillhole DTRC596 40m at 1.95g/t Au from 0m
Drillhole DTRC640 26m at 4.66g/t Au from 42m including 10m at 10.29g/t Au
Drillhole DTRC612 32m at 1.45g/t Au from 43m
Drillhole DTRC620 9m at 11.74g/t Au from 58m
Drillhole DTRC626 9m at 4.18g/t Au from 0m
Drillhole DTRC624 16m at 2.20g/t Au from 85m
Drillhole DTRC637 38m at 1.01g/t Au from 42m
Drillhole DTRC641 31m at 1.40g/t Au from 97m
Drillhole DTRC658 37m at 1.18g/t Au from 37m
Segun Lawson, President and CEO, stated:
"We are pleased to announce further significant and robust drilling results from the Makosa Prospect.
These results are impressive and highly encouraging in the context of the Douta Project and
conclude a highly successful drilling season on a celebratory note. The wide zones of near-surface
oxide mineralisation combined with solid higher-grade zones at depth provide the encouragement
and impetus to propel the next phase of advancing this very exciting project in the New Year. In the
coming year our we plan to maintain focus both on resource growth and project development in
Senegal to meet our objective of bringing the Company's second gold mine into production."
The Company has now received all outstanding drilling results from the Makosa drilling campaign and
now awaits the results from the infill programs carried out at the Mansa and Maka Prospects. These
results are expected in the early 2023.
Introduction
The Douta Gold Project is a gold exploration permit that covers an area of 103 square kilometres (km
2
)
and is located within the Kéniéba inlier, eastern Senegal. The northeast trending permit (Figure 1) has
an area of 103 km
2
. Thor, through its wholly owned subsidiary African Star Resources Incorporated
("African Star"), has acquired, 70% of the licence from the permit holder International Mining Company
SARL ("IMC"). IMC has a 30% free carry until the announcement by Thor of a Probable Reserve.
The Douta permit 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 Endeavour Mining
(Figure 1). The northern parts permit is bounded the Makabingui group of gold deposits that belong to
Bassari Resources Ltd.
Makosa
The Makosa resource is currently classified as inferred. In August 2022 Thor commenced a program of
follow up RC and diamond drilling with the objective of upgrading the higher-grade portions of the
resource that fall within the optimised pit shell, to indicated classification.
At Makosa, zones of gold mineralisation are developed either within a sheared gabbro intrusive or within
a steep north-westerly dipping sequence of meta-sedimentary rocks that are close proximity to the
gabbro. Higher grade zones or shoots are suspected to occur along east-west oriented structures that
cut across the main north-east trend of the mineralisation.
The significant intersections from Makosa are listed in Tables 1 and 2 using a reporting cut-off of 25
gram-metres and 10 gram-metres respectively. The full table of results is attached in Appendix 1. Drill
samples were analysed by ALS Laboratories in Mali using the AA26 fire assay method (50 gram
charge).
HOLE-ID
Easting
Northing
Length
(m)
Azimuth
Dip
From
(m)
To
(m)
Interval
(m)
Grade
(g/tAu)
True
Width
(m)
DTRC596
175496
1436124
78
130
-60
0
40
40
1.95
30.5
DTRC612
175442
1436111
108
130
-60
43
75
32
1.45
25.1
DTRC620
175495
1436205
150
130
-60
58
67
9
11.74
6.7
DTRC624
175455
1436201
178
130
-60
85
101
16
2.20
12.6
DTRC626
175906
1436634
84
130
-60
0
9
9
4.18
6.9
DTRC637
175572
1436265
135
130
-60
42
80
38
1.01
30.7
DTRC640
175606
1436300
142
130
-60
42
68
26
4.66
20.1
includes
42
52
10
10.29
7.7
DTRC641
176232
1437074
130
-60
97
128
31
1.40
25.5
includes
75
102
27
1.23
22.9
DTRC658
175690
1436431
122
130
-60
80
117
37
1.18
30.9
Table 1: Makosa Significant Results (>25 gram-metres: grade X true width)
(0.5g/t Au lower cut off; maximum 2m internal dilution, minimum 2m interval with included intervals at
>1g/t Au over minimum 1m)
The drill results demonstrate the continuity of gold mineralisation both along strike and down dip. From
the results of the latest drilling, which include 9m at 11.74g/t Au and 10m at 10.29g/t Au, it appears that
several of the anticipated high-grade zones have been intersected in the closer spaced drill pattern.
Figure 1: Douta Project location map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7003/148653_557f73f464ac89eb_002full.jpg
.
Figure 2: Makosa Drillhole Location Map
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7003/148653_557f73f464ac89eb_003full.jpg
.
To date only the higher-grade sections of the Makosa resource have been targeted for an upgrade
resource classification. Further infill drilling is warranted along the entire strike-length as better grades
and continuity seem to correlate with a tighter drill spacing. Figures 3 and 4 below, demonstrate the
down-dip continuity of mineralisation located in the central parts of the Makosa deposit.
HOLE-ID
Easting
Northing
Length
(m)
Azimuth
Dip
From
(m)
To
(m)
Interval
(m)
Grade
(g/tAu)
True
Width
(m)
DTRC590
175178
1435864
108
130
-60
78
96
18
0.83
13.0
DTRC595
175234
1435929
105
130
-60
43
54
11
2.63
8.5
DTRC596
175496
1436124
78
130
-60
0
40
40
1.95
30.5
DTRC599
175629
1436281
102
130
-60
47
64
17
1.33
13.2
includes
54
63
9
2.15
7.0
DTRC602
175206
1435952
146
130
-60
53
64
11
1.77
8.4
includes
56
64
8
2.36
6.1
DTRC604
175732
1436397
48
130
-60
4
25
21
0.90
16.1
DTRC608
175769
1436458
66
130
-60
4
14
10
2.38
7.6
includes
4
8
4
5.08
3.0
DTRC609
175748
1436474
102
130
-60
71
92
21
1.21
16.4
includes
73
83
10
1.65
7.8
DTRC612
175442
1436111
108
130
-60
18
25
7
2.66
5.4
43
75
32
1.45
25.1
includes
45
52
7
2.21
5.5
DTRC613
175791
1436507
102
130
-60
29
48
19
0.97
14.5
49
60
11
1.74
8.4
includes
49
52
3
4.52
2.3
DTRC614
175773
1436523
126
130
-60
92
108
16
1.16
12.8
DTRC615
175457
1436157
132
130
-60
43
62
19
1.06
15.0
DTRC619
175808
1436559
126
72
93
21
1.03
16.4
DTRC620
175495
1436205
150
130
-60
58
67
9
11.74
6.7
includes
58
60
2
50.60
1.5
DTRC621
175855
1436578
78
130
-60
12
16
4
4.60
3.1
22
38
16
0.95
12.4
DTRC624
175455
1436201
178
130
-60
85
101
16
2.20
12.6
DTRC625
175867
1436601
66
31
47
16
1.35
12.4
includes
38
45
7
2.57
5.5
DTRC626
175906
1436634
84
130
-60
0
9
9
4.18
6.9
26
37
11
1.77
8.5
DTRC634
175960
1436693
66
130
-60
16
30
14
0.92
10.9
DTRC635
175561
1436213
126
130
-60
33
46
13
1.35
10.0
DTRC637
175572
1436265
135
130
-60
42
80
38
1.01
30.7
includes
65
74
9
1.88
7.3
DTRC640
175606
1436300
142
130
-60
42
68
26
4.66
20.1
includes
42
52
10
10.29
7.7
and
54
60
6
2.33
4.6
DTRC641
176232
1437074
90
28
45
17
1.16
13.2
130
-60
97
128
31
1.40
25.5
includes
105
120
15
2.02
12.4
148
162
14
1.12
11.5
DTRC645
176274
1437165
114
130
-60
84
98
14
1.36
10.2
DTRC649
177133
1438212
42
130
-60
7
24
17
1.73
12.9
includes
17
24
7
3.44
5.3
DTRC650
175632
1436343
157
84
100
16
0.96
12.5
116
132
16
0.95
12.5
DTRC656
177475
1438658
102
130
-60
52
66
14
1.38
11.7
75
102
27
1.23
22.9
includes
78
87
9
1.86
7.6
DTRC657
175677
1436379
132
130
-60
120
131
11
1.16
8.7
DTRC658
175690
1436431
122
130
-60
80
117
37
1.18
30.9
includes
81
90
9
2.03
7.5
DTRC661
177586
1438752
60
130
-60
16
19
3
5.33
2.3
DTRC665
177685
1438879
54
130
-60
28
39
11
1.36
8.4
DTRC668
177760
1438964
54
130
-60
20
34
14
1.31
10.7
Table 2: Makosa Significant Results (>10 gram-metres: grade X true width)
(0.5g/tAu lower cut off; maximum 2m internal dilution, minimum 2m interval with included intervals at
>1g/tAu over minimum 1m)
Figure 3: Cross-section highlighting near-surface intersection in drillhole DTR596
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7003/148653_557f73f464ac89eb_004full.jpg
.
Figure 4: Cross-section highlighting high grade intersection in drillhole DTRC640
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/7003/148653_557f73f464ac89eb_005full.jpg
.
Figure 5: Cross-section highlighting high-grade at-surface intersection in drillhole DTRC626
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/7003/148653_557f73f464ac89eb_006full.jpg
.
Ongoing Exploration
The Sambara, Mansa and Maka Prospects are located to the north of Makosa (Figure 1). Results from
the initial RC drilling at these prosects returned encouraging results including the following:
Sambara
1
Drillhole DTRC426 6m at 4.80g/t Au from 65m
Drillhole DTRC431 6m at 4.80g/t Au from 12m
Drillhole DTRC491 2m at 6.39g/t Au from 8m
Drillhole DTRC493 6m at 2.58g/t Au from 57m
Drillhole DTRC497 2m at 5.85g/t Au from 26m
Mansa Prospect
2
Drillhole DTRC363 4m at 3.11g/t Au from 55m
Drillhole DTRC347 5m at 1.75g/t Au from 48m
Drillhole DTRC347 2m at 10.65g/t Au from 56m
Maka Prospect
2
Drillhole DMRC012 4m at 11.0g/t Au from 18m
These prospects have the potential to provide additional resources and will be fully tested in forthcoming
drilling programs.
1
Sedar Filing, September 12, 2022: Thor Explorations Ltd. Announces New Sambara Discovery and Further Positive Drill Results from Makosa at
the Douta Gold Project, Senegal
2
Sedar Filing February 7, 2022: Commencement of Drilling on the Douta Gold Project, Senegal
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, 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. Mining and
production commenced at Segilola in 2021. Thor holds a 70% interest in the Douta Gold Project located
in south-eastern Senegal. Thor trades on the TSX Venture Exchange under the symbol "THX".
Deposit
Classification
Tonnage
(xMt)
Grade
(g/t Au)
Contained
Metal
(koz Au)
Thor
Interest
Attributable
Ounces
Source
Segilola
Indicated*
4.06
4.66
608
100%
608
1
Segilola
Inferred*
0.443
4.78
68
100%
68
1
Makosa
Inferred
15.3
1.53
730
70%
511
2
*not depleted for mining
Source
1 Sedar Filing March 21 2019: Technical Report On The Segilola Gold Project Feasibility Study, Osun State, Nigeria