- Thor Explorations (THX) is pleased to announce the first gold pour from its Segilola Gold Mine located in Osun State, Nigeria on July 30
- The Segilola mine, Nigeria’s first commercial gold mine, is a high-grade, open-pit mine
- Commercial production is targeted for September 2021
- The plant will target 85,000 ounces of gold per annum
- Thor Explorations Ltd. is a mineral exploration company engaged in the exploration and development of mineral properties in Nigeria, Senegal and Burkina Faso
- Thor Explorations Ltd. (THX) opened trading at C$0.35 per share
Thor Explorations (THX) is pleased to announce the first gold pour from its Segilola Gold Mine located in Osun State, Nigeria.
The pour took place this morning, July 30, 2021.
The process plant ramp-up will continue over the next six weeks with commercial production targeted for September 2021.
At commercial production, the plant will run at a processing rate of 715,000 tonnes per annum, targeting c.85,000 ounces of gold per annum.
Segun Lawson, President & CEO commented on the achievement.
“The first gold pour at Segilola, our first mine and the first commercial gold mine in Nigeria is a significant achievement for the company. This mine has been built in line with the budget and largely on schedule through a global pandemic. The Segilola mine is a high-grade, open-pit mine that has a projected Life of Mine All-In Sustaining Cost of $685 per ounce providing strong cash flows over the life of mine.
I want to take this opportunity to once again commend our team’s commitment and hard work in achieving this milestone, especially given COVID-19 related restrictions. We look forward to hosting an on-site inauguration ceremony of Nigeria’s first commercial gold mine with state and federal authorities in the coming months.”
Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso.
The company has assembled a portfolio of exploration assets in West Africa which are being advanced through exploration and development.
Thor Explorations holds a 100 per cent interest in the Segilola Gold Project located in Osun State of Nigeria and a 70 per cent economic interest in the Douta Gold Project located in south-eastern Senegal.
Thor Explorations Ltd. (THX) opened trading at C$0.35 per share.