Thor Explorations reports initial gold resource estimate for Douta project in Senegal, shares up
(Kitco News) - Thor Explorations (TSXV: THX) today announced an initial NI 43-101 standard Maiden Mineral Resource Estimate ("MRE") for the Makosa Deposit which is located in the southern portion of the Douta Gold Project in Senegal.
The company reported that maiden MRE for Douta Project, which is supported by a total of 35,728 metres of drilling, amounted to 730,000 ounces of gold grading at 1.5g/t Au, and said that mineralisation at Makosa remains open along strike with further growth potential.
The company also announced that exploration drilling at the Mansa Prospect, which is located 5km along strike from Makosa, resulted in encouraging drilling intersections including 4 metres ("m") grading 3.11 g/t Au, 5m grading 1.75g/t Au and 2m grading 10.65g/t Au.
The Makosa MRE encompasses the Makosa, Makosa North and Makosa Tail zones, which all remain open along strike and down dip, and are expected to grow with ongoing drilling either along strike or at depth, the company added.
"The MRE provides a foundation for continued resource growth along strike to the north from Makosa North together with the satellite deposits, including the newly discovered Mansa, that are currently being assessed along the 30 kilometre long Makosa gold corridor," the company noted in a statement.
Thor Explorations 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% interest in the Douta Gold Project located in south-eastern Senegal.
The company's shares were up 4.76% this morning.
By Vladimir BasovFor Kitco News
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