Thor Explorations posts positive drilling results from Segilola Gold Mine, Nigeria
Thor Explorations Ltd. [TSXV: THX; AIM: THX] is a West African-focused minerals exploration and mining Company, currently producing gold from its wholly owned Segilola Gold Mine in Nigeria and is advancing its Douta Gold Project in Senegal towards development.
Thor reported the first set of results from an initial drilling program that targets the down-plunge potential beneath the current open pit extents at the Segilola Gold Mine.
Significant results received to date include 3.0 metres grading 11.24 g/t gold from 294 metres in drillhole SNMDD011 and 1.5 metres grading 3.22 g/t gold from 269 metres in drillhole SNMDD012. These are the initial results received from the first two holes drilled out of an ongoing 12-hole drilling program of which five holes have been drilled. Additional drilling results will be published in due course.
Segun Lawson, President and CEO, stated: “We are pleased to intersect high-grade gold mineralization 50 metres below the current pit design. This is an encouraging start to the ‘proof-of-concept’ drilling program, which has returned positive intersections in the projected locations below the current open pit design. The proof-of-concept drilling program has been designed to target shallow dipping high grade shoots delineated by the grade control data modelled since the start of mining combined with the interpretations based on additional structural studies.
“This is the first demonstration since we started mining that there is further potentially achievable underground mining below the designed Segilola pit.
“The initial results have come from the southern most shoot and the 12-hole programme is designed to test the remaining shoots as a first pass, prior to extending the program.
“The target is to both upgrade parts of the remaining inferred resource and to increase the size overall of the underground resource with the objective of increasing the life of mine at Segilola. We look forward to completing the program and sharing more results in due course.”
The high-grade Segilola gold deposit is located on the major regional shear zone that extends for several hundred kilometres through the gold-bearing Ilesha schist belt (structural corridor) of Nigeria.
Gold mineralization is developed within an overturned sequence of metamorphosed, strongly foliated meta-sediments at the boundary between the basement biotite gneiss (Hanging wall) and calc-silicate and mylonitic biotite-garnet schists (Foot wall).
The southern lodes are characterized by a pronounced southerly plunging geometry. Within the broader zone of gold mineralization two high grade shoots, that show good continuity at a 10 g/t gold cut off, are developed. The inferred down-plunge extensions of these two shoots, referred to as ribbons R1 and R2, form the primary drilling targets. The initial drillholes were completed to test the ribbon concept with further step-out drilling dependent on the outcomes.
Hole SNMDD011 intersected the lower ribbon R2 with a 3.0 m downhole interval grading 11.24 g/t Au at approximately 50 m below the current final pit design. The true width of 2.4 m would satisfy the minimum mining width criteria for the development of an underground resource. Hole SNMDD012 intersected the upper ribbon R1 with a 1.5 m downhole interval grading 3.22 g/t Au.
It should be noted that there are numerous historic exploration drillholes in the target area. All holes intersected the resource lode. However, only a few of these holes specifically intersected the R1 and R2 ribbons. Results from additional proof of concept drillholes, which follows the R2 ribbon down-plunge, are pending.
The initial drilling results appear to have validated the proof-of-concept high-grade targeting model. The initial results suggest that the minimum underground mining width can be achieved at a suitable grade. There is justification to continue with an expanded drilling program.