REG - Thor Explorations Ld - Significant Intersects from Guitry Drilling

Thor ExplorationsAnnouncement

Mon 08:00

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RNS Number : 0877D  Thor Explorations Ltd  13 October 2025

 

 

 

 

NEWS RELEASE

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR

DISTRIBUTION TO U.S. WIRE SERVICES

 

 

 October 13, 2025             TSXV/AIM: THX

 Vancouver, British Columbia

 

 

INITIAL DRILLING CAMPAIGN AT THE GUITRY PROJECT IN CÔTE D'IVOIRE CONCLUDES
WITH ADDITIONAL SIGNIFICANT INTERSECTIONS

 

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

 

Thor has completed a total of 4,604 metres ("m") of reverse circulation ("RC")
drilling at Guitry with the objective of gaining better understanding of both
the geometry and geological controls on gold mineralisation.

 

The additional assay results received to date from this drilling program since
August 2025, include the following highlights:

 

·      Drillhole GURC25-246 - 6m at 9.63 grammes per tonne ("g/t") of
gold ("Au") from 89m

·      Drillhole GURC25-240- 7m at 1.50g/tAu from 72m

·      Drillhole GURC25-247 - 14m at 1.30g/tAu from 57m

 

Further exploration activities are planned to advance resource definition and
identify new mineralisation. This includes systematic infill and step-out
drilling, testing of untested and partially tested geochemical anomalies, and
generative geochemical surveys.

Segun Lawson, President & CEO, stated:

"We are pleased to report continued positive drilling results from Cote
d'Ivoire, completing a successful maiden drilling campaign in country. When
acquired, the Guitry project featured several gold-in-soil geochemical
anomalies that previous explorers had only partially tested with shallow
drilling.

"This drilling campaign has intersected and confirmed previously untested
deeper bedrock mineralisation, which remains open.

"In the final quarter of the year, once the rainy season is over, we have
planned further step-out drilling programs that will be designed to grow the
potential resource inventory at Guitry. In addition to this, we will be
carrying out a permit wide auger drilling campaign to test the previously
identified soil anomalies.

"Cote d'Ivoire is a leading West African gold mining and exploration region,
hosting over 30% of the area's greenstone belts and emerging as a site for
world-class gold discoveries. We are excited to be returning to the field
shortly, when we will also be carrying out our maiden drilling campaign on our
Marahui Permit."

Introduction

The Guitry Project was acquired by Thor from Endeavour Mining Corporation
("Endeavour") during 2025 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 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
(5.2 million ounces ("Moz")) 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 an 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 a relatively small area of drilling. 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.

 

Drilling Results

Previous drilling primarily intersected gold mineralisation within a
near-surface, flat-lying supergene horizon. In contrast, only a limited number
of drill holes targeted the primary mineralisation at Krakouadiokro. The
current drilling program was developed following a revised interpretation of
the orientation of multiple parallel mineralised lodes.

 

Since May 2025, Thor completed an initial RC drilling program comprising
4,604m in 41 holes (Figure 3). 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. All results from this drilling program are listed in
Appendix 1.

 

 

 

Figure 2: Guitry Soil Geochemical Map

 

The current drilling area is on the crest of a laterite-capped hill overlying
a northeast-striking sequence of pelitic sedimentary (greywacke) rocks. These
rocks are strongly weathered to about 30m from the surface before
transitioning into fresh bedrock. Primary gold mineralisation occurs within
moderately to steep north-dipping zones in the southwest part of the drilling
area. Towards the northeast, the mineralised zones appear 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)
 GURC25-240  240471   605268    233  107    -55  225              72                79            7.0                 1.50           4.2
 GURC25-246  240553   605279    242  126    -55  225              89                95            6.0                 9.63           3.6
 GURC25-247  240523   605181    227  108    -55  225              57                71            14.0                1.30           8.4

 

Table 1: Guitry Gold Project Significant Drilling Intersections

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

 

Numerous high grades have been intersected in the primary zone over a 400m by
300m area. In the Southern Zone, intersections that were reported previously
such as 7m at 7.71g/tAu in GURC25-227 and 5m at 12.65g/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). In the current
batch of results 14m grading 1.3/tAu from 57m was intersected in drillhole
GURC25-247 in the previously untested Southern Zone (Figure 3,4). In the
Central Zone, further encouraging results include 6m grading 9.63g/tAu from
89m in drillhole GURC25-246.

 

The results to date suggest a steep, dipping, parallel lode array.

 

 

Figure 3: Guitry Drillhole Location Map Showing Results Above 5 Gram-Metres.

 

 

 

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 the 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.

 

Figure 4: Guitry Cross Sections Showing Apparent Dip of the Mineralised Lodes

 

 

 

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.

 

Commercial Terms

 

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

 

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 Cote D'Ivoire. Thor Explorations holds:

 

-     a 100% interest in the Segilola Gold Project located in Osun State,
Nigeria

-     a 100% economic interest in the Douta Gold Project located in
south-eastern Senegal

-     a 100% interest in the Guitry Gold Project Cote D'Ivoire

-     additional exploration tenure in Nigeria, Senegal and Cote d'Ivoire
comprising of wholly and majority owned interests

 

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

Info: Email: info@thorexpl.com (mailto:info@thorexpl.com)

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

Tel: +44 (0) 20 3004 9512

 

 

 

 

Appendix 1

Guitry Drilling Results

(>3 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)  Reported Previously
 GURC25-208  240488   605214    224  78     -55  225      0                 14            14.0                2.59           11.9            yes
 GURC25-209  240509   605235    233  96     -55  225      38                42            4.0                 6.87           3.4             yes
 GURC25-210  240354   605221    211  72     -55  226      0                 10            10.0                0.62           8.5             yes
 GURC25-210                                               46                57            11.0                1.07           9.4             yes
 GURC25-210                                               59                64            5.0                 0.64           4.3             yes
 GURC25-211  240375   605242    218  102    -55  225      0                 7             7.0                 0.61           6.0             yes
 GURC25-211                                               67                73            6.0                 0.35           5.1             yes
 GURC25-211                                               81                90            9.0                 1.34           7.7             yes
 GURC25-212  240467   605405    243  72     -55  226      2                 10            8.0                 0.70           6.8             yes
 GURC25-212                                               25                30            5.0                 7.48           4.3             yes
 GURC25-212                                               64                69            5.0                 0.32           4.3             yes
 GURC25-213  240488   605426    242  96     -55  225      nsr                                                                0.0             yes
 GURC25-214  240603   605396    240  78     -54  225      57                67            10.0                10.36          8.5             yes
 GURC25-215  240619   605418    252  102    -54  225      70                75            5.0                 3.21           4.3             yes
 GURC25-216  240640   605358    252  66     -56  226      45                52            7.0                 3.93           6.0             yes
 GURC25-216                                               57                62            5.0                 0.37           4.3             yes
 GURC25-217  240654   605382    237  60     -55  225      3                 8             5.0                 1.05           4.3             yes
 GURC25-218  240657   605374    264  138    -55  225      5                 15            10.0                0.54           8.5             yes
 GURC25-219  240581   605458    245  150    -55  225      10                20            10.0                0.97           8.5             yes
 GURC25-219                                               82                85            3.0                 14.50          2.6             yes
 GURC25-220  240524   605393    259  108    -55  225      2                 10            8.0                 0.35           6.8             yes
 GURC25-220                                               60                64            4.0                 1.65           3.4             yes
 GURC25-220                                               86                94            8.0                 0.72           6.8             yes
 GURC25-221  240500   605382    241  84     -55  225      0                 4             4.0                 0.50           3.4             yes
 GURC25-221                                               77                84            7.0                 7.11           6.0             yes
 GURC25-222  240439   605440    245  114    -55  225      3                 8             5.0                 2.38           4.3             yes
 GURC25-222                                               66                69            3.0                 2.50           2.6             yes
 GURC25-223  240449   605455    239  132    -55  225      11                14            3.0                 0.93           2.6             yes
 GURC25-223                                               43                50            7.0                 0.43           6.0             yes
 GURC25-223                                               87                92            5.0                 3.17           4.3             yes
 GURC25-224  240676   605401    245  108    -55  225      5                 9             4.0                 0.40           3.4             yes
 GURC25-224                                               80                82            2.0                 16.90          1.7             yes
 GURC25-224                                               98                97            2.0                 3.12           1.7             yes
 GURC25-225  240690   605347    237  120    -55  225      7                 12            5.0                 0.57           4.4             yes
 GURC25-226  240674   605333    251  108    -55  225      nsr                                                                                yes
 GURC25-227  240397   605263    233  144    -55  225      0                 6             6.0                 0.83           5.1             yes
 GURC25-227                                               114               127           13.0                3.46           11.0            yes
 GURC25-228  240528   605258    256  108    -55  225      0                 6             6.0                 0.39           5.1             yes
 GURC25-228                                               69                74            5.0                 12.65          4.3             yes
 GURC25-229  240496   605289    244  114    -55  230      0                 17            17.0                2.16           16.0            yes
 GURC25-229                                               85                87            2.0                 2.24           1.9             yes
 GURC25-229                                               93                95            2.0                 1.66           1.9             yes
 GURC25-230  240573   605381    250  156    -55  230      7                 10            3.0                 0.42           2.9             yes
 GURC25-230                                               34                38            4.0                 2.47           3.8             yes
 GURC25-230                                               42                46            4.0                 2.44           3.8             yes
 GURC25-230                                               54                59            5.0                 0.53           4.8             yes
 GURC25-231  240565   605358    251  160    -55  230      2                 9             7.0                 0.31           6.6             yes
 GURC25-231                                               24                29            5.0                 1.91           4.7             yes
 GURC25-231                                               143               149           6.0                 3.13           5.5             yes
 GURC25-232  240599   605321    252  144    -55  230      12                14            2.0                 0.69           1.9             yes
 GURC25-232                                               114               122           8.0                 14.54          7.5             yes
 GURC25-233  240614   605341    252  120    -55  230      28                30            2.0                 5.97           1.9             yes
 GURC25-233                                               78                80            2.0                 0.42           1.9             yes
 GURC25-233                                               115               122           7.0                 5.31           6.5             yes
 GURC25-234  240647   605433    243  150    -55  230      25                27            2.0                 0.41           1.9             yes
 GURC25-234                                               81                85            4.0                 10.68          3.7             yes
 GURC25-234                                               106               108           2.0                 1.74           1.9             yes
 GURC25-235  240443   605385    243  144    -55  230      1                 6             5.0                 0.57           4.7             yes
 GURC25-235                                               11                16            5.0                 1.16           4.7             yes
 GURC25-235                                               105               108           3.0                 0.68           2.8             yes
 GURC25-236  240460   605327    238  132    -55  230      0                 5             5.0                 0.61           4.7             yes
 GURC25-236                                               31                35            4.0                 0.34           3.8             yes
 GURC25-237  240478   605348    245  126    -55  230      2                 4             2.0                 0.39           1.9             yes
 GURC25-237                                               38                40            2.0                 1.68           1.9             yes
 GURC25-238  240511   605449    239  90     -55  230      7                 14            7.0                 0.47           6.6             yes
 GURC25-238                                               51                53            2.0                 0.89           1.9             yes
 GURC25-239  240471   605483    238  156    -55  225      nsr                                                                                no
 GURC25-240  240471   605268    233  107    -55  225      0                 13            13.0                0.44           12.2            no
 GURC25-240                                               62                68            6.0                 0.54           5.6             no
 GURC25-240                                               72                79            7.0                 1.50           6.5             no
 GURC25-241  240451   605251    228  126    -55  225      0                 4             4.0                 0.57           3.7             no
 GURC25-242  240426   605361    236  102    -55  225      4                 9             5.0                 0.84           4.7             no
 GURC25-242                                               90                94            4.0                 0.63           3.7             no
 GURC25-243  240405   605344    232  108    -55  225      0                 8             8.0                 0.86           7.5             no
 GURC25-243                                               16                18            2.0                 0.54           1.9             no
 GURC25-243                                               52                56            4.0                 0.95           3.8             no
 GURC25-244  240415   605211    215  72     -55  225      2                 4             2.0                 0.34           1.9             no
 GURC25-245  240388   605184    206  126    -55  225      2                 12            10.0                0.53           9.4             no
 GURC25-246  240553   605279    242  126    -55  225      2                 9             7.0                 0.67           6.6             no
 GURC25-246                                               89                95            6.0                 9.63           5.6             no
 GURC25-247  240523   605181    227  108    -55  225      57                71            14.0                1.30           13.1            no
 GURC25-247                                               91                95            4.0                 0.76           3.8             no
 GURC25-248  240544   605200    233  101    -55  225      0                 3             3.0                 0.32           2.8             no
 Total       41                      4604

 

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