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Initial Drilling Results from Thor's Lithium Prospects Return Significant Intersections of Mineralised Pegmatites
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2023) - Thor Explorations Ltd (TSXV: TH...
About this update from Thor Explorations Ltd.
[{"type":"text","content":"Initial Drilling Results from Thor's Lithium Prospects Return Significant Intersections of Mineralised PegmatitesVancouver, British Columbia--(Newsfile Corp. - August 16, 2023) - Thor Explorations Ltd (TSXV: THX) (AIM: THX), \"Thor\" or the \"Company\", is a West African-focussed minerals exploration and mining Company, that currently operates the Segilola Gold Mine in Nigeria and is advancing the Douta Gold Project in Senegal towards development.As part of its strategy of identifying high-value mineral resource opportunities, Thor, through its fully-owned subsidiary Newstar Minerals Ltd (\"Newstar\"), has acquired significant exploration tenure in south-west Nigeria that covers both known lithium-bearing pegmatite deposits and a large unexplored prospective pegmatite-rich belt. An initial drilling program is being undertaken on one of the Company's prospects located in the West Oyo Project Area to confirm and delineate lithium-bearing mineralisation, such as spodumene and lepidolite, at depth. The Company is pleased to announce the first set of results from this initial exploratory phase.Key HighlightsSignificant intersections include:Drillhole NRC010: 11metres (\"m\") at 2.61% Li2O from 15mDrillhole NRC018: 9m at 2.42% Li2O from 35mDrillhole NRC006: 11m at 1.53% Li2O from 14m, including 9m at 1.70% Li2O from 15mSpodumene confirmed as the main lithium-bearing mineral together with minor lepidoliteMineralisation is exposed at surface and is shallow dipping.Segun Lawson, President & CEO, stated:\"We are extremely encouraged by the first set of results from our initial drilling campaign which was designed to confirm the development of lithium-bearing minerals within pegmatite bodies that occur within our permit areas. This is the first area of our portfolio we have drilled and we are looking forward to both continuing the drill program on this prospect and extending the drilling over the other lithium-bearing pegmatites within our portfolio in Oyo State.Our objective is to expand our exploration activities and drilling program to the other pegmatites within our permits and commence exploration activities over the larger extent of all our permits areas in Nigeria. With the forecasted lithium market deficit expected to grow out by 2040, with an untapped lithium potential in West Africa, we believe it is a great opportunity to he...