Thor Explorations drills 8.96 g/t gold over 7 metres at Douta, Senegal

Thor Explorations Ltd. [THX-TSXV, AIM; THXPF-OTC] reported additional drilling results from the Makosa gold deposit at the Douta gold project, Senegal, Africa

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 g/t, as announced in its maiden Mineral Resource Estimate (MRE) published November 18, 2021.

The results are the latest from an ongoing comprehensive exploration program of reverse circulation (RC) drilling, which was designed to both upgrade parts of the existing resource and to specifically target potentially higher-grade parts of the deposit.

Highlights include drillhole DTRC561 returned 7 metres at 8.96 g/t gold from 67 metres (including 1m at 52.7 g/t Au). Drillhole DTRC540 returned 4 metres at 13.82 g/t gold from 44 metres. Drillhole DTRC570 returned 6 metres at 5.72 g/t gold from 59 metres (including 3m at 8.9 g/t Au).

Drillhole DTRC539 returned 10 metres at 3.80 g/t gold from 59 mettres. Drillhole DTRC536 returned 17 metres at 1.22 g/t gold from 15 metres. Drillhole DTRC550 returned 17 metres at 2.02 g/t gold from 80 metres (including 1m at 7.7 g/t Au).

Drillhole DTRC526 returned 2 metres at 12.98 g/t gold from 73 metres. Drillhole DTRC535 returned 11 metres at 2.23 g/t gold from 39 metres (including 1m at 8.44 g/t Au). Drillhole DTRC555 returned 10 metres at 2.70 g/t gold from 31 metres. Drillhole DTRC556 returned 11 metres at 2.30 g/t gold from 78 metres. Drillhole DTRC560 returned 5 metres at 4.80 g/t gold from 74 metres.

Segun Lawson, President and CEO, stated: “We are pleased to announce further, very positive drilling results from the southern parts of the Makosa resource area. In addition to upgrading the resource to a mostly indicated classification, the current drilling program was designed to test interpreted higher-grade parts of the deposits that were thought to be related to cross-structures. Several high-grade intervals with grades of up to 13.8 g/t gold were encountered during the drilling showing that more higher-grade material has been delineated in line with the program objectives.

“Notably, we continue to encounter strong mineralisation from the surface, and at relatively shallow depths. We are continuing this theme of shallow drilling along the entire strike length of the deposit, with the objective of delineating a high grade, shallow, mineable deposit.

“We look forward to updating the market with the drill results as we receive them this year.”

The Douta Gold Project is a gold exploration permit that covers an area of 103 km² and is located within the Kenieba inlier, eastern Senegal. The northeast trending permit has an area of 103 km². Thor, through its wholly owned subsidiary African Star Resources Incorporated, has acquired a 70% economic interest in 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 deposits Massawa North and Massawa Central deposits which form part of the world class Sabadola-Massawa Project that is owned by Endeavour Mining Plc [EDV-TSX, LSE]. The northern parts permit is bounded by the Makabingui group of gold deposits that belong to Bassari Resources Ltd.

The Makosa resource is currently classified as inferred. In July 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 optimized pit shell, to indicated classification.

The Mansa and Maka Prospects are located between Makosa and Sambara. Results from the initial RC drilling at these prosects returned encouraging results including the following:

Mansa Prospect: Drillhole DTRC363  returned 4 metres at 3.11 g/t gold from 55 metres. Drillhole DTRC347 returned 5 metres at 1.75 g/t gold from 48 metres. Drillhole DTRC347 returned 2 metres at 10.65 g/t gold from 56 metres.

Maka Prospect: Drillhole DMRC012 returned 4 metres at 11.0 g/t gold from 18 metres.

These prospects have the potential to provide additional resources and will be fully tested in forthcoming drilling programs.

Thor Explorations 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.

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