Thor Explorations, listed on AIM and TSX-V, has announced further positive results from its initial proof-of-concept drilling program targeting the down-plunge potential beneath the Segilola open-pit at its wholly-owned Segilola gold mine in Nigeria.
The drilling program aimed at exploring projections of the Segilola orebody beneath the current open-pit design. The majority of the holes drilled below the pit have successfully intersected high-grade mineralization, according to President and CEO Segun Lawson. Previous results from the program included 3 meters grading 11.24 g/t gold from 294 meters in drillhole SNMDD011 and 1.5 meters grading 3.22 g/t gold from 269 meters in drillhole SNMDD012.
The latest results include 3.5 meters grading 4.1 g/t gold from drillhole SNMD016 and 2.4 meters grading 3.46 g/t gold from drillhole SNMD014. Based on the success of the initial program, the company plans to expand its 12-hole proof-of-concept drilling, with additional holes designed to explore the down-plunge trend along the southern portion of the deposit and test deeper target areas beneath the pit, which have seen relatively little prior drilling.
These positive results have also led to the consideration of extending the mine life of the Segilola open-pit before transitioning to underground mining. Thor Explorations will carry out optimization studies incorporating the latest drilling results and updated gold prices to assess the feasibility of this extension.
The company plans to upgrade portions of the remaining inferred resource and expand the overall underground resource to increase the Segilola life-of-mine.
