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Thor Explorations hails first drill results from Douta gold project, which confirms its prospectivity

Highlight assays included 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole

Highlight assays include 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole

Thor Explorations Ltd (CVE:THX) has unveiled a positive first set of drill assays from its Douta gold project in southeast Senegal, which confirms continuous mineralisation over a 3km  strike.

"These results confirm management's assessment of the prospectivity of Thor's Douta Project and builds on our 2017 exploration success," said Segun Lawson, the company's president and chief executive.

READ: Thor Explorations' Segilola high grade pit offers strong return on investment

"Notably, the results are comparable with other major deposits in the region, which raises the potential of a discovery emerging at a significant scale.

"Thor is looking forward to announcing the remaining results from the current programme in July and assessing mineral resource potential."

Thor said it had encountered near-surface gold mineralisation, along with continuous mineralisation down dip and over a 3km strike.

It is open on strike and at depth.

Highlight assays include 9 meters (m) at 1.84 g/t (grams per ton) gold and 3m at 13.2 g/t gold - both from one hole.

The same hole also yielded an intersection of 10 metres at 1.86 g/t (gram per ton) of the yellow metal.

Douta lies in the prospective, gold-endowed Birimian Greenstone belt in south-east Senegal, West Africa and is within 5km of Randgold's 3.6 Moz (million ounce) Massawa resource.

The Makosa discovery is the first of several significant exploration targets to be drilled by Thor within the project.

So far, 13 holes for 1,531m and 24 RC drillholes for 2,000m have been completed over the Makosa prospect and 7,800m of the planned 8,000m have been completed in the 2018 RC (reverse circulation) program over a strike length of around 2.2km.

Shares were unchanged at C$0.195.

Quick facts: Thor Explorations Ltd.

Price: 0.21 CAD

Market: TSX-V
Market Cap: $130.45 m

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Thor Explorations announces strong drill results from Douta Project in Senegal

Thor Explorations (CVE:THX) President and CEO Segun Lawson joined Proactive Investors Vancouver to update their postive drill results from the Maka South area on the Douta permit in Senegal. Lawson also had an update on their current capital raise and the next major steps on their...

on 08/29/2018

2 min read