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Thor Explorations Ltd.
Summary
| Project: | Segilola | |
|---|---|---|
| Deposit: | Segilola | |
| Location: | Nigeria | |
| Commodities: | Gold | |
| Date: | 5/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 30-5-2018: Thor Explorations Ltd. announces an Exploration/Drilling Update report for its Segilola deposit at the Segilola project. Drilling results incl. 6.3m @ 15.3g/t Au from 55.3m. Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is | |
| 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 announce further encouraging results from its diamond core drilling program on its 100% owned Segilola Gold Project in Nigeria. This is following the announcement on April 25, 2018 of the “Strong initial drill results”. The Probable reserve at Segilola currently comprises 448,000 ounces of gold grading 4.2g/tAu within a global resource base of 862,000 ounces gold. The recent targeted drilling has focussed on adding further definition to identified zones of the open pit resource and Thorʼs management consider the assay results are likely to result in an upgrade of the open pit resource and reserve that will be used in the Definitive Feasibility Study (“DFS”). The Company is also pleased to announce that it has completed a detailed fixed-wing LIDAR and photoimagery survey of the exploration license (incorporating the Segilola mining license) that will provide a detailed topographical base for site planning and DFS engineering design, as well as providing further social and environmental information and additional data for exploration activities. Segun Lawson, President & CEO, stated: "The current drilling campaign at Segilola is continuing to deliver excellent drill results which demonstrate clear potential for enhancement of the existing 4.2g/t Au open pit reserve. Thor is looking forward to the final results from what has been a very successful drilling campaign. The DFS is progressing on schedule, with completion of geotechnical and hydrogeological drilling and the final results from the metallurgical testwork program in the coming weeks.” | |
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