REG - Thor Explorations Ld - MAIDEN DRILL RESULTS AT THE GUITRY PROJECT

Thor ExplorationsAnnouncement

22/07/2025 07:00

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RNS Number : 9494R  Thor Explorations Ltd  22 July 2025

 

 

 

 

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     July 22, 2025                     TSXV/AIM: THX

 Vancouver, British Columbia

 

 

 

MAIDEN DRILL RESULTS AT THE GUITRY PROJECT IN CÔTE D'IVOIRE

 

Thor Explorations Ltd ("Thor" or the "Company") is pleased to announce initial
drilling results from its maiden drilling campaign at its 100% owned Guitry
Gold Project ("Guitry") in Côte d'Ivoire.

 

During May and June 2025, Thor completed an initial 3,000 metre ("m") reverse
circulation ("RC") drilling program at Guitry and has received initial assay
results from the program. The objective of the program was to gain a better
understanding of both the geometry and geological controls on gold
mineralisation based on a new interpretation of the historic drilling results
obtained by Endeavour Mining, the historical owner of the asset.

 

The assay results received to date from this drilling program include the
following highlights:

 

·      Drillhole GURC25-208 - 14m at 2.59 grammes per tonne ("g/t") of
gold ("Au") from surface

·      Drillhole GURC25-209 - 4m at 6.87 g/tAu from 38m

·      Drillhole GURC25-212 - 5m at 7.48 g/tAu from 5m

·      Drillhole GURC25-214 - 10m at 10.36g/t Au from 57m

·      Drillhole GURC25-216 - 7m at 3.93 g/tAu from 7m

·      Drillhole GURC25-219 - 3m at 14.50 g/tAu from 82m

·      Drillhole GURC25-221 - 13m at 3.46/t Au from 114m

·      Drillhole GURC25-227 - 7m at 7.71 g/tAu from 77m

·      Drillhole GURC25-228 - 5m at 12.65 g/tAu from 69m

·      Drillhole GURC25-229 - 17m at 2.16 g/tAu from surface

 

Further exploration at the Krakouadiokro Prospect will include both infill and
step-out drilling. Additionally, drilling will commence on numerous
geochemical anomalies at both the Krakouadiokro and Gbaloukro Prospects, many
of which remain untested or only partially tested.

 

Segun Lawson, President & CEO, stated:

"We are extremely pleased to report our first drilling results from Côte
d'Ivoire. Guitry is an advanced exploration project which, when acquired, was
characterised by numerous gold-in-soil geochemical anomalies that had only
been partially drill tested with shallow drilling by the previous explorers.
Our initial drilling program was designed based on our new interpretation,
suggesting a different orientation of a number of parallel mineralised lodes.

"We are particularly encouraged that the drilling confirmed our new
interpretation of the orientation of these mineralised lodes which remain
open. We also successfully intersected previously untested deeper bedrock
mineralisation which also remains open at depth.

"This is a great start to our drilling activities in Côte d'Ivoire. The
Guitry Project has scope to grow from here and we continue to target our
maiden resource in the country by the end of this year.

"We look forward to receiving the remaining assay results and are excited to
return later this quarter following the rainy season to continue the next
phase of drilling and also to kick off our maiden drilling program on our
Marahui Project where we have been advancing exploration through the course of
the year.

"As a country, Cote D'Ivoire is a West African gold mining and exploration
success story that hosts over 30% of West Africa's greenstone belts and is
proving to be an emerging region for world class gold discoveries. We are
pleased with our low-cost entry into the country and believe these two permits
provide an excellent platform from which to grow our activities in the
country."

 

Introduction

The Guitry Project was acquired by Thor from Endeavour Mining Corporation
("Endeavour") during 2024 for a total consideration of US$100,000 in cash and
a 2% Net Smelter Royalty. The Project is located 220 kilometres ("km") due
west from Abidjan and covers 295 square kilometres ("km(2)") of prospective
Tehini (Birimian) Greenstone Belt comprising a north-easterly trending
sequence of greywacke sediments and volcano-sedimentary schists and andesite
with later granitic intrusive located to the north. The Tehini Greenstone Belt
extends northwards into Burkina Faso where it hosts large gold deposits such
as Hounde (5.2Moz) and Mana (2.3Moz). Early-stage exploration at Guitry
completed by Endeavour Mining includes 7,672 soil samples and over 11,000m of
drilling (Figure 1).

 

 

 

Figure 1: Guitry Gold Project Location Map

 

Two main prospects were defined by soil geochemistry: Krakouadiokro and
Gbaloukro. A broad gold in soil anomaly extends over a 8.5km north easterly
trending zone with a continuous 5km long anomaly at Krakouadiokro (Figure 2).
Follow up drilling at Krakouadiokro produced several significant drill
intersections from relatively small area of drilling including. However,
insufficient information was obtained regarding the geometry and extents of
the primary gold mineralisation. Mineralisation appears to be open along
strike to the southwest and northeast and down dip at the two main prospects.

 

 

Figure 2: Guitry Soil Geochemical Map

 

Drilling Results

Historically, most of the drilling intersected gold mineralisation in a
near-surface flat-lying supergene horizon. Only limited drilling of the
primary mineralisation at Krakouadiokro was carried out. The current program
was designed based on a new interpretation of the orientation of what is
understood to be several parallel mineralised lodes.

 

Since May 2025, Thor completed an initial RC drilling program of approximately
3,000 metres with the results for the initial holes received. All holes were
oriented at an azimuth of 225(o) at a dip of 55 (o).

 

Industry standard QAQC protocols were followed, and drill samples were
collected, stored and transported under secured conditions. Drill samples were
analysed by SGS Laboratories in Yamoussoukro using the FAA505 fire assay
method (50-gram charge). The significant intersections from this program are
listed in Table 1.

 

The current drilling area is located on the crest of a laterite-capped hill
which overlies a north-east striking sequence of pelitic sedimentary
(greywacke) rocks. These rocks are strongly weathered to a depth of about 30m
from surface before transitioning into fresh bedrock. Primary gold
mineralisation is developed within moderately to steep north-dipping zones in
the south-west part of the drilling area. Towards the north-east the
mineralised zones appear to be sub-vertical (Figure 4).

 Hole ID     Easting  Northing  RL   Depth  Dip  Azi-    muth     From     (m)      To    (m)     Interval    (m)     Grade (g/tAu)  True Width (m)
 GURC25-208  240488   605214    224  78     -55  225              0                 14            14.0                2.59           11.9
 GURC25-209  240509   605235    233  96     -55  225              38                42            4.0                 6.87           3.4
 GURC25-210  240354   605221    211  72     -55  226              0                 10            10.0                0.62           8.5
 GURC25-210                                                       46                57            11.0                1.07           9.4
 GURC25-211  240375   605242    218  102    -55  225              81                90            9.0                 1.34           7.7
 GURC25-212  240467   605405    243  72     -55  226              25                30            5.0                 7.48           4.3
 GURC25-214  240603   605396    240  78     -54  225              57                67            10.0                10.36          8.5
 GURC25-215  240619   605418    252  102    -54  225              70                75            5.0                 3.21           4.3
 GURC25-216  240640   605358    252  66     -56  226              45                52            7.0                 3.93           6.0
 GURC25-217  240654   605382    237  60     -55  225              3                 8             5.0                 1.05           4.3
 GURC25-218  240657   605374    264  138    -55  225              5                 15            10.0                0.54           8.5
 GURC25-219  240581   605458    245  150    -55  225              10                20            10.0                0.97           8.5
 GURC25-219                                                       82                85            3.0                 14.50          2.6
 GURC25-220  240524   605393    259  108    -55  225              60                64            4.0                 1.65           3.4
 GURC25-220                                                       86                94            8.0                 0.72           6.8
 GURC25-221  240500   605382    241  84     -55  225              77                84            7.0                 7.11           6.0
 GURC25-222  240439   605440    245  114    -55  225              3                 8             5.0                 2.38           4.3
 GURC25-222                                                       66                69            3.0                 2.50           2.6
 GURC25-223  240449   605455    239  132    -55  225              87                92            5.0                 3.17           4.3
 GURC25-227  240397   605263    233  144    -55  225              114               127           13.0                3.46           11.0
 GURC25-228  240528   605258    256  108    -55  225              69                74            5.0                 12.65          4.3
 GURC25-229  240496   605289    247  114    -55  225              0                 17            17.0                2.16           14.5

 

Table 1: Guitry Gold Project Significant Drilling Intersections

(>5 gram-metres, 0.3g/tAu cut off, Minimum Interval 3m, Maximum Internal
Waste 3m, all holes reported)

 

 

 

  Figure 3: Guitry Drillhole Location Map

 

Numerous high grades have been intersected in the primary zone over a 400m by
300m area. In the Southern Zone intersections such as 7m at 7.71 g/tAu in
GURC25-227 and 5m at 12.65 g/tAu in GURC25-228 indicate that grades appear to
increase at depth with most of the grades exceeding 5g/tAu being located in
the fresh bedrock (Figure 4). This moderate to steep dipping lode attains an
average true thickness of 9m which at these elevated gold grades forms an
attractive open pit and underground target.

 

Figure 4: Guitry Cross Sections

 

In the Central Zone where assays are still pending, further drilling will be
required to fully define the mineralisation. However, drillhole GURC25-221,
which ended in grade, suggests the development of another lode. Assays are
pending for several other holes including GURC25-232 and GURC25-233 which
targeted this zone further to the east.

 

The Northern Zone is characterised by several narrow mineralised structures
including 3m grading 14.50g/tAu which was intersected in drillhole GURC25-219
(Figure 4). Further drilling is planned to obtain a better understanding of
the geometry of the mineralisation in this area.

Next Steps

·  At the Krakouadiokro Prospect further systematic resource drilling is
warranted. This drilling would comprise both infill and step-out drilling.

·  Drilling of the numerous geochemical anomalies at both the Krakouadiokro
and Gbaloukro Prospects that have, to date, been either untested or partially
tested.

·   Generative geochemical surveys along the north-east and to the
south-west strike extents of the Krakouadiokro and Gbaloukro Prospects. These
areas, which total approximately 10km of prospective strike, have either been
partially sampled on 800m spaced lines or not sampled at all.

 

 

Commercial Terms

 

Further details can be found on the Company's website: www.thorexpl.com
(http://www.thorexpl.com)

 

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 Explorations

 

Thor Explorations Ltd. is a mineral exploration company engaged in the
acquisition, exploration, development and production of mineral properties
located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100%
interest in the Segilola Gold Project located in Osun State, Nigeria and has a
70% economic interest in the Douta Gold Project located in south-eastern
Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under
the symbol "THX".

 

THOR EXPLORATIONS LTD.

Segun Lawson

President & CEO

 

For further information please contact:

 

Thor Explorations Ltd Investor Relations

Email: investor.relations@thorexpl.com
(mailto:investor.relations@thorexpl.com)

 

Canaccord Genuity (Nominated Adviser & Broker)

Henry Fitzgerald-O'Connor / James Asensio / Harry Rees

 

Tel: +44 (0) 20 7523 8000

 

Hannam & Partners (Broker)

Andrew Chubb / Matt Hasson / Nilesh Patel / Franck Nganou

 

Tel: +44 (0) 20 7907 8500

 

BlytheRay (Financial PR)

Tim Blythe / Megan Ray / Said Izagaren

 

Tel: +44 207 138 3204

 

 Yellow Jersey PR (Financial
PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay

 

Tel:  +44 (0) 20 3004 9512

 

 

Appendix 1

Guitry Drilling Results

(>5 gram-metres, 0.3g/tAu cut off, Minimum Interval 3m, Maximum Internal
Waste 3m)

 

 Hole ID     Easting  Northing  RL   Depth  Dip  Azimuth  From     (m)      To    (m)     Interval    (m)     Grade (g/tAu)  True Width (m)
 GURC25-208  240488   605214    224  78     -55  225      0                 14            14.0                2.59           11.9
 GURC25-209  240509   605235    233  96     -55  225      38                42            4.0                 6.87           3.4
 GURC25-210  240354   605221    211  72     -55  226      0                 10            10.0                0.62           8.5
 GURC25-210                                               46                57            11.0                1.07           9.4
 GURC25-210                                               59                64            5.0                 0.64           4.3
 GURC25-211  240375   605242    218  102    -55  225      0                 7             7.0                 0.61           6.0
 GURC25-211                                               67                73            6.0                 0.35           5.1
 GURC25-211                                               81                90            9.0                 1.34           7.7
 GURC25-212  240467   605405    243  72     -55  226      2                 10            8.0                 0.70           6.8
 GURC25-212                                               25                30            5.0                 7.48           4.3
 GURC25-212                                               64                69            5.0                 0.32           4.3
 GURC25-213  240488   605426    242  96     -55  225      nsr                                                                0.0
 GURC25-214  240603   605396    240  78     -54  225      57                67            10.0                10.36          8.5
 GURC25-215  240619   605418    252  102    -54  225      70                75            5.0                 3.21           4.3
 GURC25-216  240640   605358    252  66     -56  226      45                52            7.0                 3.93           6.0
 GURC25-216                                               57                62            5.0                 0.37           4.3
 GURC25-217  240654   605382    237  60     -55  225      3                 8             5.0                 1.05           4.3
 GURC25-218  240657   605374    264  138    -55  225      5                 15            10.0                0.54           8.5
 GURC25-219  240581   605458    245  150    -55  225      10                20            10.0                0.97           8.5
 GURC25-219                                               82                85            3.0                 14.50          2.6
 GURC25-220  240524   605393    259  108    -55  225      2                 10            8.0                 0.35           6.8
 GURC25-220                                               60                64            4.0                 1.65           3.4
 GURC25-220                                               86                94            8.0                 0.72           6.8
 GURC25-221  240500   605382    241  84     -55  225      0                 4             4.0                 0.50           3.4
 GURC25-221                                               77                84            7.0                 7.11           6.0
 GURC25-222  240439   605440    245  114    -55  225      3                 8             5.0                 2.38           4.3
 GURC25-222                                               66                69            3.0                 2.50           2.6
 GURC25-223  240449   605455    239  132    -55  225      11                14            3.0                 0.93           2.6
 GURC25-223                                               43                50            7.0                 0.43           6.0
 GURC25-223                                               87                92            5.0                 3.17           4.3
 GURC25-224  240676   605401    245  108    -55  225      5                 9             4.0                 0.40           3.4
 GURC25-224                                               80                82            2.0*                16.90          1.7
 GURC25-224                                               98                97            2.0*                3.12           1.7
 GURC25-225  240690   605347    237  120    -55  225      7                 12            5.0                 0.57           4.4
 GURC25-226  240674   605333    251  108    -55  225      nsr
 GURC25-227  240397   605263    233  144    -55  225      0                 6             6.0                 0.83           5.1
 GURC25-227                                               114               127           13.0                3.46           11.0
 GURC25-228  240528   605258    256  108    -55  225      0                 6             6.0                 0.39           5.1
 GURC25-228                                               69                74            5.0                 12.65          4.3
 GURC25-229  240496   605289    247  114    -55  225      0                 17            17.0                2.16           14.5
 GURC25-230  240573   605381    253  156    -55  225      pending
 GURC25-231  240565   605358    224  160    -55  225      pending
 GURC25-232  240599   605321    242  144    -55  225      pending
 GURC25-233  240614   605341    249  120    -55  225      pending
 GURC25-234  240647   605433    242  150    -55  225      pending
 GURC25-235  240443   605385    242  144    -55  225      pending

*Below Minimum Interval criteria

 

 

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