MINING REFINING

Thor Explorations to expand underground programme at Segilola

Mon Dec 02 2024

Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) is expanding its underground drilling programme at Segilola in Nigeria after more high-grade gold indications from exploration beneath the current open pit.

The latest drill results include 3.5m grading 4.10g/t gold in drill hole SNMD016 and 2.4m grading 3.46g/t in drill hole SNMD014.

Segun Lawson, chief executive, said: "We are encouraged by the latest additional positive results that have been received from the "proof of concept" drilling programme.

“This programme targeted projections of the Segilola ore body below the current open pit design and has been successful in intersecting high-grade mineralisation in the majority of the holes drilled below the pit.

"The success of the drilling programme to date has warranted the expansion of the initial 12-hole proof-of-concept drill programme with further holes being designed to continue to explore the along-strike down-plunge trend of the southern portion of the deposit and to test new deeper target areas underneath the pit where relatively little drill-testing has taken place.

"These results have also enabled us to investigate extending the current open pit mine life, prior to an underground mining operation. We will be carrying out optimisation studies incorporating the new drilling results and updated gold price in this regard.

"The plan is to upgrade parts of the remaining inferred resource and to increase the size of the overall underground resource, both with the objective of increasing the life of mine at Segilola."

Source: https://www.proactiveinvestors.co.uk/