Thor Explorations
Thor Explorations first acquired the 100%-owned Segilola project in August 2016

TSXV-listed mineral exploration company Thor Explorations has been granted, through its wholly owned subsidiary Segilola Gold, two new gold exploration licences, located in southwest Nigeria.

Nigeria – The new licences, which total 178 km2, are located between 15 km and 20 km from the Segilola gold project and cover significant sections of the structural trends that extend to the south of the Segilola high grade gold deposit.

“We are pleased to have acquired additional prospective ground in the region where we continue to identify new targets and build on our knowledge of Segilola. This is in line with our strategy in Nigeria,” says Thor Explorations president and CEO Segun Lawson.

Regional map showing location of EL28801 and EL28802 in blue

Moreover, the company has also been under way with exploration and development programmes at Segilola, comprising additional infill drilling, trench sampling, drill hole sampling and soil geochemical surveys, that have, over the last few months, continued post the definitive feasibility study (DFS) work streams.

Infill drilling and trenching highlights include:

  • 7 m at 4.10 g/t Au in infill hole SGRC007
  • 7 m at 5.10 g/t Au in infill hole SGRC008
  • 6.7 m at 4.22 g/t Au in trench SGTR001

“We are pleased to have already started to generate results that improve the already robust economics of the recently completed DFS, with the infill drill result returning significantly higher than modelled,” says Lawson.

The exploration and development programmes that have, over the last few months, continued in parallel with the DFS workstreams comprise:

  • Limited resource infill drilling
  • Trench sampling
  • Exploration RC drilling
  • Soil and stream sediment sampling

Two reverse circulation (RC) holes were completed within the extents of the existing resource in order to gain further near-surface definition in conjunction with trench sampling, and an assessment of the potential of hanging wall lodes that, due to an insufficient number of drill intersections, are currently not included in the resource model. In addition, logging of a previously unsampled open pit geotechnical hole revealed that a hanging wall vein had been intersected.

Both RC drill holes intersected the lodes to within less than 1m of their predicted location.

SGRC007 returned results that are reasonably consistent with the predicted model and confirmed the planar geometry of the resource. The hole also confirmed the location of the main hanging wall lode (100) and returned an average grade of 3.08 g/t Au compared to the modelled (predicted) grade of 1.5 g/t Au.

In addition, the continuity of a second hanging wall lode was confirmed. This lode is possibly an extension of the 300 lode which is better developed further to the south and which contains some of the highest grades on the project (2.4 m true grading 105 g/t Au in SGD105).

SGRC008 tested the up-dip continuity of the resource and returned 7 m at 5.88 g/t Au from 23 m depth. This intersection compared with the modelled (predicted) grade of 3.60 g/t Au representing a local uplift in grade of over 60%.

This second hanging wall lode together with the entire 300 lode to the south are currently classified as inferred resources. Thor believes that with operational infill drilling (grade control) these additional lodes will contribute significantly to the project economics.

Trench SGTR001 was excavated and sampled to demonstrate continuity of grade to the surface. Sampling returned and average grade of 4.22 g/t Au over a horizontal width of 6.7 m compared to the modelled grade in this position of 3.0 g/t Au.

Exploration surveys

Thor has continued to expand the soil geochemical and stream sediment surveys mostly to the north along the projected strike extensions of the Segilola deposit. To date, Thor has collected 2 132 soil geochemistry and 180 stream sediment samples.

Several gold anomalies have been delineated and these, together with soil anomalies identified from historic data, will assessed in forthcoming exploration programs. A total of eight priority areas have been allocated for follow up work.

Reconnaissance stream sediment sampling has returned results of up to 1.10 g/t Au and 1.46 g/t Au in Target Area 3 which is located 500 m to the west of the known, potentially mineralised, structure. This area contains several anomalous gold in stream sediment samples and gold in soil anomalies.

An initial limited RC drill programme was completed on 200 m spaced lines that extend northwards from the Segilola mineralisation. All holes were successful in intersecting the northern continuation of the prospective host rock sequence. On section 832800N, located 550 m north of the Segilola deposit, two intersected narrow low grade gold mineralisation. The host rocks are pegmatitic quartz veins similar to those found at Segilola.

These results demonstrate that the structure continues to the north and that the structure is mineralised.

Thor continues to undertake regional exploration and target generation studies along the largely unexplored Ilseha Scist belt.