Key Points
- Thor’s drilling program intersects high-grade gold beneath Segilola pit.
- New results expand exploration and potential mine life.
- Company plans further drilling to extend Segilola’s underground resource.
Listed on the TSX-V Thor Explorations’ first proof-of-concept drilling program at the Segilola gold mine in Nigeria has yielded more encouraging results.Â
Thor reports success with Segilola drilling program results
The purpose of the initiative is to investigate the potential for a down-plunge beneath the mine’s existing open-pit boundaries. According to Segun Lawson, president and CEO of Thor Explorations, the drilling has successfully struck high-grade mineralisation in the majority of the holes drilled below the pit, with a focus on projections of the Segilola orebody beneath the current open-pit design.
Three meters in drillhole SNMDD011 grading 11.24 grammes per tonne (g/t) gold from 294 meters and 1.5 meters in drillhole SNMDD012 grading 3.22 g/t gold from 269 meters are examples of prior results.
With drillhole SNMD016 returning 3.5 meters with a gold grade of 4.1 g/t and drillhole SNMD014 yielding 2.4 meters with a gold grade of 3.46 g/t, the most recent set of findings further supports the down-plunge extension’s potential.
“The expansion of the original 12-hole proof-of-concept program has been justified by the success of this drilling program,” Lawson stated.
Expanding the drilling program to explore deeper potential
According to mining weekly, in order to further investigate the along-strike down-plunge trend on the southern part of the deposit, we are currently planning more drill holes. Under the present pit, where drill testing has been scarce, these holes will also test new, deeper target locations.
Lawson underlined that the encouraging outcomes offer a solid basis for prolonging the life of open-pit mines prior to switching to underground mining. He stated, “We intend to carry out optimisation studies taking into account these new drilling results and updated gold prices.”
“This will assist us in evaluating the possibility of prolonging the life of the existing open-pit mine and getting ready for the subsequent phase of development.”
In order to prolong the Segilola mine’s life-of-mine and enhance the operation’s overall economics, the business also intends to expand the underground resource and upgrade portions of the remaining inferred resource.
