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Thor Explorations Announces Financial and Operating Results for the Three and Six Months Ending June 30, 2023
Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Thor Explorations Ltd. (TSXV: T...
About this update from Thor Explorations Ltd.
[{"type":"text","content":"Thor Explorations Announces Financial and Operating Results for the Three and Six Months Ending June 30, 2023Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Thor Explorations Ltd. (TSXV: THX) (AIM: THX) (\"Thor Explorations\", \"Thor\" or the \"Company\") is pleased to provide an operational and financial review for its Segilola Gold mine, located in Nigeria (\"Segilola\"), and for the Company's mineral exploration properties located in Nigeria, Senegal and Burkina Faso for three (\"Q2 2023\" or the \"Period\") and six months to June 30, 2023 (\"H1 2023\").The Company's Consolidated Condensed Interim Financial Statements together with the notes related thereto, as well as the Management's Discussion and Analysis for the three and six months ended June 30, 2023, are available on Thor Explorations' website at https://thorexpl.com/investors/financials/.All figures are in US dollars (\"US$\") unless otherwise stated. Operational Highlights for Q2 2023 and H1 2023ProductionGold production for the Period totaled 23,078 ounces (\"oz\") (H1 2023: 43,707 oz)All main operating units of the process plant continue to perform better than expected, with the plant operating above nameplate capacitySeveral improvement projects at the process plant are being undertaken through the remainder of 2023Three Loss Time Injuries (\"LTIs\") occurred in H1 2023, which triggered an increase in training and workplace inspections to improve working conditionsExplorationThe Company has prioritized exploration within a 25-kilometre (\"km\") radius of Segilola with the key objective being to extend the life of mine Four main advanced exploration targets that have been defined are the Kola Prospect, Igila, Aye-Ile Western Prospects and IjarigbeThe Kola Prospect is located 23km south of Segilola and is a new high-grade greenfield exploration discovery:Reverse Circulation drilling (\"RC\") was carried out at a low-level stream sediment zone and showed initial positive results, which included 7 metres (\"m\") grading at 25.98 g/t gold in the near-surface weathered horizon and 4 m at 30.17 g/t gold in the primary horizonExploration testing of the general area is continuing and drilling activities will continue through the remainder of the yearThe Igila Prospect is located 15km west of SegilolaExploration activities are ongoing and focused on delin...