Thor Explorations (TSXV: THX; LSE: THX) has released an inferred resource estimate for its Makosa deposit in the southern portion of the Douta gold project in Senegal.
Makosa contains 15.3 million inferred tonnes grading 1.5 grams gold per tonne for 730,000 oz. of contained gold. The estimate was based on 35,728 metres of drilling.
The Makosa resource 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, the company says.
"The Makosa maiden resource estimate is the company's first major milestone at the Douta project," Segun Lawson, Thor's President and CEO, stated in a press release.
"The resource is the culmination of the first round of mostly wide-spaced exploration drilling conducted over a strike length of over seven kilometres," he added. "This provides for a solid growth platform for Thor following the greenfield discoveries of Makosa and Makosa Tail in 2018 and 2020 respectively."
The company is now focused on expanding the resource along the prospective corridor that runs along the full 30 km length of its exploration licence. Priority will be given to extension drilling at Makosa North, where the mineralization remains open-ended towards the northeast.
Thor also reported that exploration drilling at the Mansa prospect, located 5 km along strike from Makosa, resulted in encouraging intersections, including 4 metres grading 3.11 grams gold per tonne, 5 metres grading 1.75 grams gold per tonne and 2 metres grading 10.65 grams gold per tonne
In addition to its 70% stake in the Douta project, Thor holds a 100% interest in the Segilola project in Nigeria.
The West Africa-focused junior has a market capitalization of $203.3 million.