AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights:
-
Thor Explorations Ltd. reported promising results from the first two holes of a 12-hole drilling program at the Segilola Gold Project in Nigeria, with one intersection yielding 11.24 grams per ton over three meters.
-
The drilling program aims to investigate resources below the current pit, potentially extending the mine's life and increasing production capabilities.
-
CEO Segun Lawson expressed optimism about the remaining drill holes, indicating the potential for confirming underground mining prospects, with the full program expected to be completed in five weeks.
Thor Explorations Ltd. {LSE:THX} has announced promising preliminary results from its ongoing drilling program at the Segilola Gold Project in Nigeria. In an update provided to Proactive's Stephen Gunnion, CEO Segun Lawson revealed that the first two drill holes from a planned 12-hole program have shown encouraging gold grades. Notably, one of the intersections returned a remarkable 11.24 grams per ton over a span of three meters.
This drilling initiative is primarily focused on assessing the resources situated beneath the current pit, with the objective of potentially extending the mine’s operational lifespan and enhancing production beyond existing projections. Lawson highlighted the significance of this exploration, stating, "We've never closed this resource out to depth," which indicates the untapped potential of the site.
Lawson conveyed the company's excitement regarding the initial results and emphasized the importance of the remaining drill holes in confirming the viability of underground mining at Segilola. The company anticipates that the full drilling program will be completed within the next five weeks, although some delays have occurred due to heavy rainfall in the region.
These developments underscore Thor Explorations' commitment to exploring and maximizing the potential of the Segilola Gold Project, which remains a crucial asset in the company’s portfolio. As the drilling progresses, stakeholders will be closely monitoring the outcomes, which could significantly impact the project’s future operations and profitability.
