August 18, (THEWILL) — Thor Explorations Ltd, a West African-focused minerals exploration and mining Company, has announced further positive results from an advanced diamond drilling programme at the Segilola Gold Mine, Segilola.
Located in Ilesha, Osun State, the Segilola Gold Project covers a large area of the Pan-African Ilesha Schist Belt.
Highlights of the positive drilling include, “Drillhole SNMDD060 – 4.2 metres (“m”) at 12.4 grammes per tonne (“g/t”) of gold (“Au”) from 295m; Drillhole SNMDD061 – 2m at 17.86g/tAu from 195.5m; Drillhole SNMDD061 – 4.5m at 3.71g/tAu from 222m and Drillhole SNMDD059 – 5.9m at 6.0g/tAu from 291m.”
Announcing the milestone, Segun Lawson, the President & CEO, stated: “We are delighted to report continued positive progress from our deep diamond drilling program at Segilola, which has generated several significant gold intersections below the current open pit design. This program, which continues to evolve, has been designed to further explore the along-strike down-plunge trend of the deposit.
“One of our key corporate priorities as a Company is to extend the Segilola mine life, and the ongoing drilling programme has been designed to do this by both upgrading parts of the remaining inferred resource and increasing the size of the overall underground resource to support a longer life-of-mine at Segilola.
“We are encouraged by these results, which demonstrate continued high-grade mineable mineralisation beneath the pit and look forward to testing these targets, which remain open. We will also review the options of recovering these additional ounces by deepening the Segilola open pit. We have increased our exploration budget to $11.5m for the year and also look forward to commissioning the Company’s drilling rigs, which will enable a faster, more flexible drilling programme.”
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