REG - Thor Explorations Ld - DRILL INTERSECTIONS FROM MAKOSA NORTH PROSPECT

Thor ExplorationsAnnouncement

12/08/2021 07:05

RNS Number : 3674I
  
Thor Explorations Ltd
  
12 August 2021
  
 

 
NEWS RELEASE
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR

DISTRIBUTION TO U.S. WIRE SERVICES
 
FOR IMMEDIATE RELEASE                                                                                   TSXV/AIM: THX
August 12, 2021                                                                            Shares Outstanding: 623,570,509
 
Vancouver, British Columbia
 
ROBUST DRILL INTERSECTIONS RETURNED FROM MAKOSA NORTH PROSPECT AT THE DOUTA GOLD PROJECT, SENEGAL
For Full Release Including Figures Follow the Link Here:
http://www.rns-pdf.londonstockexchange.com/rns/3674I_1-2021-8-11.pdf
 
Thor Explorations Ltd. (TSXV/AIM: THX) ("Thor" or the "Company") is pleased to announce further drilling results from the northern extensions of the Makosa mineralised trend at its Douta Project, Senegal. Wide-spaced exploratory drill sections were completed over a 1,300m northern extension beyond the last line of drilling. Results received to date indicate that gold mineralisation continues to the north and remains open-ended.
 
Highlights include:
Makosa North
·      Drillhole DTRC296
15m at 2.42g/tAu from 65m (includes 10m at 3.21g/tAu from 65m)
3m at 2.88g/tAu from 77m
·      Drillhole DTRC281
8m at 1.69g/tAu from 6m
16m at 1.58g/tAu from 17m (includes 3m at 5.53g/tAu from 19m)
·      Drillhole DTRC283
9m at 2.93g/tAu from 10m (includes 7m at 3.56g/tAu from 11m)
·      Drillhole DTRC311
10m at 1.42g/tAu from 48m
 
Segun Lawson, President & CEO, stated
"The drilling results from Makosa North are particularly exciting as they suggest that the Makosa gold system continues further to the north than originally expected. Furthermore, several higher-grade intersections were received that may suggest an increase in grade to the north. In addition, the last section drilled on hole DTRC311 intersected 10m at 1.42g/tAu suggesting that the mineralisation is open-ended to the north."
 
Introduction
The Douta Gold Project is a gold exploration permit that covers an area of 58 km2 and is located within the Kéniéba inlier, eastern Senegal (Figure 1). Thor, through its wholly owned subsidiary, African Star Resources Incorporated ("African Star"), has a 70% economic interest in partnership with the permit holder, International Mining Company SARL ("IMC"). IMC has a 30% free carried interest in its development until the announcement by Thor of a Probable Reserve.
The Douta licence is strategically positioned 4km east of the Massawa North and Massawa Central deposits which form part of the world class Sabadola-Massawa Project that is owned by Teranga Gold Corporation (Figure 1). 
The northern parts of the Makosa prospect were tested previously with wide-spaced reverse circulation ("RC") drilling with mineralisation being intersected on the last exploration drill line. Subsequently a follow up programme was completed to test for possible extensions to the north in previously un-tested ground. The results from this follow-up programme, as reported here, indicate continuing gold mineralisation to the north.
 
 
Figure 1: Douta Project Location Map
 
 
 
Drilling Results
The results from the exploratory RC drilling programme at Makosa North are shown in Table 1 and Figures 2 and 3. The full table of results is attached in Appendix 1. 
 




HOLE-ID


Easting


Northing


Elevation


Length (m)


From    (m)


To       (m)


Interval   (m)


Grade (g/tAu)


True Width (m)




DTRC281


177098


1438174


195


42


6.0


14.0


8.0


1.69


5.8




 


 


 


 


 


17.0


33.0


16.0


1.58


11.5




 


 


 


 


includes


19.0


22.0


3.0


5.53


2.2




DTRC283


177162


1438260


194


42


10.0


19.0


9.0


2.93


6.5




 


 


 


 


includes


11.0


18.0


7.0


3.56


5.0




DTRC289


177593


1438746


195


64


21.0


34.0


13.0


1.19


9.2




 


 


 


 


includes


27.0


32.0


5.0


1.78


3.5




DTRC293


177755


1438838


197


66


10.0


20.0


10.0


0.83


7.2




DTRC295


177692


1438889


196


46


26.0


36.0


10.0


1.21


7.3




 


 


 


 


includes


27.0


33.0


6.0


1.60


4.4




DTRC296


177651


1438910


195


80


65.0


80.0


15.0


2.42


11.3




 


 


 


 


includes


65.0


75.0


10.0


3.21


7.5




DTRC301


177837


1439050


194


45


25.0


39.0


14.0


1.20


10.4




DTRC311


178059


1439395


187


60


48.0


58.0


10.0


1.42


7.0




 
Table 1: Makosa North Significant Results 
(0.5g/tAu lower cut off; maximum 2m internal dilution, minimum 2m interval)
 
 
Drill samples were analysed by ALS laboratories in Mali using the AA26 fire assay method (50g charge).
The Makosa North drilling has extended the mineralisation a further 1,400m to the north. Significantly, on the last drill section hole, DTRC311 intersected 10m at 1.42g/tAu. This indicates that the mineralisation remains open-ended to the north.
Drillholes DTRC 281 and DTRC283 were drilled at the ends of existing drill sections to test for across-strike extensions of mineralisation with positive results including 16m at 1.58g/tAu and 9m at 2.93g/tAu respectively. These results further resolve a pod of mineralisation that extends over a strike length of nearly 800m.
 
 
 
Figure 2: Makosa North Drillhole Location Map
 
 
Figure 3: Map showing significant results obtained in 2021 to date
 
 
Qualified Person
The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP), who is designated as a "qualified person" under National Instrument 43-101 and the AIM Rules and has reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling, analytical and test data underlying the information.
 
About Thor
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor trades on the TSX Venture Exchange and on AIM under the symbol "THX".
THOR EXPLORATIONS LTD.

Segun Lawson

President & CEO
 
For further information please contact:
 
Thor Explorations Ltd 
Email: info@thorexpl.com 
 
Fig House Communications (Investor Relations) 
Tel: +1 416 822 6483 
Email: investor.relations@thorexpl.com 
 
Blytheweigh (Financial PR) 
Tim Blythe / Megan Ray / Rachael Brooks 
Tel: +44 207 138 3203 
 
Canaccord Genuity (Nominated Adviser & Broker) 
Henry Fitzgerald-O'Connor / James Asensio / Angelos Vlatakis 
Tel: +44 (0) 20 7523 8000 
 
Hannam & Partners (Broker) 
Andrew Chubb / Matt Hasson / Nilesh Patel / Franck Nganou 
Tel: +44 (0) 20 7907 8500
 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.
 
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements" within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions  that could cause the actual results of the Company to differ materially form the forward-looking statements. Such forward-looking statements, including but not limited to, the Company's ability to fully finance the Project, to bring the Project into operation or to produce gold from the Project, and the use of the proceeds.  The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.
 
 
 
 
 
Appendix 1: 
Makosa North RC Drill Results August 2021




HOLE-ID


Easting


Northing


Elevation


Length (m)


Azimuth


Dip


From    (m)


To       (m)


Interval   (m)


Grade (g/tAu)


True Width (m)




DTRC275


175028


1435431


166


44


130


-50


 


 


 


NSR


 




DTRC276


174935


1435258


172


90


130


-50


 


 


 


NSR


 




DTRC277


176838


1437988


192


150


130


-50


 


 


 


NSR


 




DTRC278


177007


1437985


197


96


130


-50


39


42


3


0.74


2.1




 


 


 


 


 


 


 


69


71


2


0.72


1.4




DTRC279


176894


1438077


195


156


130


-50


111


113


2


1.03


1.6




DTRC280


177009


1438248


197


138


130


-50


116


119


3


1.46


2.4




 


 


 


 


 


 


includes


117


119


2


1.81


1.6




DTRC281


177098


1438174


195


42


130


-50


6


14


8


1.69


5.8




 


 


 


 


 


 


 


17


33


16


1.58


11.5




 


 


 


 


 


 


includes


19


22


3


5.53


2.2




DTRC282


177073


1438331


196


156


130


-50


117


119


2


0.62


1.6




DTRC283


177162


1438260


194


42


130


-50


10


19


9


2.93


6.5




 


 


 


 


 


 


includes


11


18


7


3.56


5.0




DTRC284


177385


1438209


190


42


130


-50


33


37


4


0.72


2.9




DTRC285


177715


1438650


199


66


130


-50


 


 


 


NSR


 




DTRC286


177682


1438672


197


66


130


-50


 


 


 


NSR


 




DTRC287


177649


1438695


196


63


130


-50


10


12


2


1.11


1.5




DTRC288


177620


1438722


195


66


130


-50


14


22


8


0.59


4.1




DTRC289


177593


1438746


195


64


130


-50


21


34


13


1.19


9.2




 


 


 


 


 


 


includes


27


32


5


1.78


3.5




 


 


 


 


 


 


 


57


62


5


0.64


3.6




DTRC290


177559


1438768


193


66


130


-50


 


 


 


NSR


 




DTRC291


177818


1438789


199


60


130


-50


 


 


 


NSR


 




DTRC292


177786


1438814


198


66


130


-50


 


 


 


NSR


 




DTRC293


177755


1438838


197


66


130


-50


10


20


10


0.83


7.2




 


 


 


 


 


 


 


16


18


2


1.63


1.4




DTRC294


177724


1438865


196


66


130


-50


 


 


 


NSR


 




DTRC295


177692


1438889


196


46


130


-50


11


14


3


0.63


2.1




 


 


 


 


 


 


 


26


36


10


1.21


7.3




 


 


 


 


 


 


includes


27


33


6


1.60


4.4




DTRC296


177651


1438910


195


80


130


-50


57


61


4


0.64


3.0




 


 


 


 


 


 


 


65


80


15


2.42


11.3




 


 


 


 


 


 


includes


65


75


10


3.21


7.5




 


 


 


 


 


 


and


77


80


3


1.05


2.3




DTRC297


177622


1438939


195


54


130


-50


 


 


 


NSR


 




DTRC298


177931


1438976


195


66


130


-50


 


 


 


NSR


 




DTRC299


177900


1438999


195


66


130


-50


 


 


 


NSR


 




DTRC300


177868


1439025


195


60


130


-50


 


 


 


NSR


 




DTRC301


177837


1439050


194


45


130


-50


25


39


14


1.20


10.4




 


 


 


 


 


 


includes


27


38


11


1.36


8.2




DTRC302


177807


1439072


193


66


130


-50


 


 


 


NSR


 




DTRC303


177779


1439095


193


66


130


-50


 


 


 


NSR


 




DTRC304


178039


1439149


187


60


130


-50


 


 


 


NSR


 




DTRC305


178012


1439171


186


66


130


-50


 


 


 


NSR


 




DTRC306


177972


1439208


186


60


130


-50


42


51


9


0.54


6.5




DTRC306


 


 


 


 


 


 


53


56


3


1.04


2.1




DTRC309


178120


1439345


193


66


130


-50


7


13


6


0.71


4.3




DTRC311


178059


1439395


187


60


130


-50


48


58


10


1.42


7.0




DTRC314


174467


1434902


186


66


130


-50


61


64


3


2.30


2.2




DTRC315


174433


1434924


186


66


130


-50


14


17


3


0.52


2.2




DTRC315


 


 


 


 


 


 


29


33


4


0.56


2.8




DTRC315


 


 


 


 


 


 


41


43


2


0.87


1.4




 

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