Announcement Date: 2022-01-04
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Thor Explorations Ltd.
Project name: Douta
Location: Senegal
Commodities: Gold
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The MRE is classified as Inferred Resources and is constrained within optimised pit shells and comprises 15.3 million tonnes grading 1.5 grammes per tonne (“g/t”) gold (“Au”) for 730,000 ounces of gold. The Company is also pleased to announce that exploration drilling at the Mansa Prospect, which is located 5km along strike from Makosa, resulted in encouraging drilling intersections including 4 metres (“m”) grading 3.11 g/t Au, 5m grading 1.75g/t Au and 2m grading 10.65g/t Au. The Makosa MRE encompasses the Makosa, Makosa North and Makosa Tail zones, which all remain open along strike and down dip, and are expected to grow with ongoing drilling either along strike or at depth. The MRE provides a foundation for continued resource growth along strike to the north from Makosa North together with the satellite deposits, including the newly discovered Mansa, that are currently being assessed along the 30 kilometre long Makosa gold corridor. Segun Lawson, President & CEO, stated “The Makosa Maiden Resource Estimate is the Company’s first major milestone at the Douta Project. The resource is the culmination of the first round of mostly wide-spaced exploration drilling conducted over a strike length of over seven kilometres. This provides for a solid growth platform for Thor following the greenfield discoveries of Makosa and Makosa Tail in 2018 and 2020 respectively.
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