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Thor Explorations says Segilola drill campaign continues to deliver excellent results

Today's assays come from definitive feasibility drilling, focused on further defining identified zones of the open pit resource

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The probable reserve at Segilola currently comprises 448,000 ounces of gold grading 4.2g/t (grams per ton) of the yellow metal

Thor Explorations Ltd (CVE:THX) hailed further encouraging drill results from its Segilola gold project in Nigeria, which show the potential to increase the existing reserve.

Today's results come from definitive feasibility drilling, which has been focused on further defining identified zones of the open pit resource.

WATCH: Thor Explorations' Gillman: amount of visible gold indicates "something significant"

"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," said Segun Lawson, president and chief executive.

"Thor is looking forward to the final results from what has been a very successful drilling campaign."

The probable reserve at Segilola currently comprises 448,000 ounces of gold grading 4.2g/t (grams per ton) of the yellow metal within a global resource base of 862,000 ounces gold.

Highlight assays from today's results include 6.3 meters at 15.3 g/t (grams per ton) gold; 7.6 metres at 9.8g/t (grams per ton) gold and 8 metres at 6.3 g/t gold.

Another hole showed 4.3 metres at 10.5 g/t of the yellow metal.

Thor also revealed that it had completed a detailed fixed-wing LIDAR and photo-imagery survey of the exploration license (incorporating the Segilola  license).

This will provide a base for site planning and DFS (definitive feasibility study) engineering design, as well as providing further social and environmental information and additional data for exploration activities, the company said.

Thor added that the DFS was progressing on schedule, with the completion of geotechnical and hydrogeological drilling and the results from the metallurgical testwork program in coming weeks.

Quick facts: Thor Explorations Ltd.

Price: 0.16 CAD

TSX-V:THX
Market: TSX-V
Market Cap: $59.31 m
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