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Thor Explorations Ltd.
Summary
| Project: | Segilola | |
|---|---|---|
| Deposit: | Segilola Underground | |
| Location: | Nigeria | |
| Commodities: | Gold | |
| Date: | 2/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 4-2-2019: Thor Explorations Ltd. announces a PEA report for its Segilola Underground deposit at the Segilola project. PEA results incl. post-tax NPV of $35M (5%), updated mineral resource estimate. Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the | |
| Resources: | (Resource): 0.1Mt @ 9.4g/t Au (Ind.), 0.35Mt @ 7.9g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Alfred Gilman (Not stated) | |
| ABSTRACT: | Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is pleased to announce positive results for its Independent Open Pit Definitive Feasibility Study (“DFS”) at its 100% owned Segilola Gold Project (the “DFS Project”) in Nigeria. Thor is also pleased to announce that it has also completed an Independent Preliminary Economic Assessment (“PEA”), undertaken by Roscoe Postle Associates Inc., for a proposed supplmental Underground Project (the “UG Project”) at Segilola. The DFS Project comprises an open pit mine and will include the construction of a new 625,000 tonnes per annum (“tpa”) processing plant, which would consist of a conventional crushing circuit, two stage grinding, gravity, carbon-in-leach, elution, electrowinning and smelting to produce gold dore. The DFS envisions a construction start date in Q2 2019 and an 18 month construction period with an initial 5 year mine life. The UG Project considers an initial 3 year underground operation which can be brought on during the open pit mine life to supplement the open pit ore with high grade underground production. The deposit remains open below the resources considered in the UG Project. | |
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