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Highlights:
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Thor Explorations Ltd reports promising initial results from its drilling program at the Segilola gold mine in Nigeria, indicating high-grade gold mineralization.
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The ongoing drilling program consists of 12 holes, with five already completed to extend the mine's life.
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The results support the potential for further underground mining beneath the current open pit design.
Thor Explorations Ltd {OTC:THXPF} has announced encouraging initial results from its drilling program at the Segilola gold mine in Nigeria, specifically from an area located 50 meters beneath the current open pit. The first two drill holes have yielded significant findings, with drillhole SNMDD011 returning 3 meters grading 11.24 grams per tonne of gold from a depth of 294 meters, and drillhole SNMDD012 revealing 1.5 meters grading 3.22 grams from a depth of 269 meters.
These results are part of an ongoing program designed to consist of 12 drill holes aimed at enhancing the mine's operational longevity. To date, five holes have been successfully drilled, indicating progress in the exploration initiative.
Segun Lawson, the chief executive of Thor Explorations, expressed satisfaction with the initial outcomes, highlighting the intersection of high-grade gold mineralization below the current pit design as a promising development. He noted that this marks an encouraging start to the "proof-of-concept" drilling program, which targets shallow dipping high-grade shoots identified through grade control data.
This initiative represents the first indication of the potential for further underground mining beneath the designed Segilola pit since the onset of mining operations. The initial results, obtained from the southernmost shoot, provide a foundation for the remaining holes in the program, which will explore additional shoots as a preliminary assessment before potentially expanding the drilling efforts.
Overall, the findings from the Segilola gold mine underscore the potential for enhanced resource recovery and operational viability in the future, paving the way for further exploration and development activities aimed at maximizing the site’s gold production capabilities.
