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Thor Explorations more than doubles resources at the Douta gold project in Senegal

Kitco Media
By Vladimir Basov
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Updated
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(Kitco News) - Thor Explorations (TSX-V: THX) today announced the results of an updated mineral resource estimate for the Douta gold project in Senegal.

In a statement, the company said that total updated Douta resources amounted to approximately 1.78 million ounces of gold, which is an increase of 144% in total resource as compared with the 2022 maiden mineral resource estimate declared for Douta in November 2021.

Thor added that Douta resources constrained within optimized pit shells and comprised of an initial indicated mineral resources of 20.2 million tonnes grading 1.3 g/t gold for 874,900 oz Au, and inferred mineral resources of 24.1 million tonnes grading 1.2 g/t Au for 909,400 oz Au.

Importantly, the company said that updated Douta resources encompass the Makosa, Makosa Tail and the recently discovered Sambara prospects, all of which remain open along strike and down dip.

Thor also noted it intends to convert 909,400 ounces of inferred resources to indicated classification with additional infill drilling which forms part of its ongoing 40,000 metre program.

President and CEO Segun Lawson commented, "This is an excellent milestone in the progress of the Douta Project. The 2023 MRE has more than doubled the contained gold within the Douta permit to over 1.7 million ounces. This updated resource base provides for a solid foundation for more advanced studies on the pathway to developing Thor's second operating gold mine in West Africa.

"We are now focusing our exploration efforts towards expanding the resource along the prospective corridor that runs along the full 30km length of our exploration licence. Priority will be given to extensional drilling at Makosa, Maka, Mansa and the newly discovered Sambara prospects."

Thor Explorations is a Canadian, West Africa-focused gold producer. Thor produced 98,000 ounces from its 100% owned Segilola gold mine located in Osun State of Nigeria and has a 70% interest in the Douta gold project located in south-eastern Senegal.

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Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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