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Thor Explorations Ltd.

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Summary

Project:

Segilola

Deposit:Segilola
Location:Nigeria
Commodities:Gold
Date:4/25/2018
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Feasibility Study
Report details:25-4-2018: Thor Explorations Ltd. announces an Exploration/Drilling Update report for its Segilola deposit at the Segilola project. Drilling results incl. 5.5m @ 30.1g/t Au from 35m. Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is p
Resources:(Resource, Prob.): 448000oz Au contained at project
CP/QP:[Overall Report]: Alfred Gilman (Not stated)
ABSTRACT:Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is pleased to pleased to announce very encouraging results from its first set of drill results from its ongoing diamond core drilling program on its 100% owned Segilola Gold Project in Nigeria. The Probable reserve at Segilola comprises 448,000 ounces of gold grading 4.2g/tAu within a global resource base of 862,000 ounces gold. The Company is also pleased to announce that it has completed the metallurgical drilling program and is progressing through the exploration and infill programs that form part of its Definitive Feasibility Study (DFS) and pre-development workstreams at the Segilola Gold Project. Drilling to date has targeted less defined areas of the open pit resource and Thorʼs management consider the assay results received to date are likely to result in an upgrade of the open pit resource and reserve. Segun Lawson, President & CEO, stated: "We are extremely encouraged by these drill results and equally excited by the pending results on our Segilola Project. As part of our DFS field work, this drilling program was designed to increase the open pit head grade from its already impressive and robust 4.2g/tAu. Drilling to date has targeted less defined areas of the open pit resource. We are also very encouraged with the high grade mineralisation found in the previously under-drilled “saddle” in the central area of the resource. Follow up drilling will test the deeper high grade lodes identified in the successful 2017 drill program which are now supported by these new results. The Company expects to announce additional results in early May. In some holes that have yet to assayed, such as SGD188(Figure 4), the visual indications are very encouraging. We look forward to updating the market in May with our next set of drill results and progress on our DFS field work

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