- Thor Explorations (THX) has discovered further high-grade gold at its Douta Gold Project
- The company made the discovery after reviewing the most recent results from the project’s Makosa gold deposit
- Recent results are the latest from an ongoing comprehensive exploration program of reverse circulation drilling
- Highlights include one intercept of 13.82 grams per tonne of gold from 44 metres
- Thor Explorations is unchanged, trading at $0.24 at 9:43 am ET
Thor Explorations (THX) has discovered further high-grade gold at its Douta Gold Project.
The Vancouver-based precious metals explorer made the discovery after reviewing the most recent results from the project’s Makosa gold deposit.
The Makosa gold deposit currently comprises an Inferred Resource of 730,000 ounces of gold, grading at 1.53 grams per tonne. It had its maiden Mineral Resource Estimate published in November 2021.
Recent results are the latest from an ongoing comprehensive exploration program of reverse circulation drilling, designed to both upgrade parts of the existing resource and target potentially higher-grade parts of the deposit.
Highlights include one intercept of 13.82 grams per tonne of gold from 44 metres.
“We are pleased to announce further very positive drilling results from the southern parts of the Makosa resource area. In addition to upgrading the resource to a mostly indicated classification, the current drilling program was designed to test interpreted higher-grade parts of the deposits that were thought to be related to cross-structures. Several high-grade intervals with grades of up to 13.8 g/tAu were encountered during the drilling showing that more higher-grade material has been delineated in line with the program objectives,” said President and CEO Segun Lawson.
“Notably, we continue to encounter strong mineralization from the surface and at relatively shallow depths. We are continuing this theme of shallow drilling along the entire strike length of the deposit, with the objective of delineating a high-grade, shallow, mineable deposit. We look forward to updating the market with the drill results as we receive them this year.”
Thor Explorations is unchanged, trading at $0.24 at 9:43 am ET.