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Thor Explorations Announces Updated Mineral Resource Estimate at the Douta Gold Project, Senegal
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES Vancouver, ...
About this update from Thor Explorations Ltd.
[{"type":"text","content":"Thor Explorations Announces Updated Mineral Resource Estimate at the Douta Gold Project, SenegalNOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. WIRE SERVICESVancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - Thor Explorations Ltd. (TSXV: THX) (AIM: THX) (\"Thor\" or the \"Company\") is pleased to announce the results of an updated Mineral Resource Estimate (the \"Douta Resource\" or \"2023 MRE\") prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\") for the Douta Gold Project in Senegal.HighlightsTotal Douta Resource of approximately 1.78 million ounces (\"Moz\") of gold (\"Au\"), an increase of 144% in total resource as compared with the 2022 maiden mineral resource estimate declared for Douta in November 2021Douta Resource constrained within optimised pit shells and comprised of:an initial Indicated Mineral Resource of 20.2 million tonnes (\"Mt\") grading 1.3 grammes per tonne (\"g/t\") Au for 874,900 oz Au; andInferred Mineral Resource of 24.1 Mt grading 1.2 g/t Au for 909,400 oz Au2023 MRE supported by a total of 64,567 metres of drillingUpdated Douta Resource encompasses the Makosa, Makosa Tail and the recently discovered Sambara prospects, all of which remain open along strike and down dip Drilling is ongoing on the above prospects with a further 40,000 metre drilling program to be completed in 2023, consisting of diamond drilling and reverse circulation drilling. Mineralisation remains open along strike between the known prospects with further growth potential along 20 kilometres of under-explored prospective strike length covered by the Douta exploration permitSegun Lawson, President & CEO, stated:\"This is an excellent milestone in the progress of the Douta Project. The 2023 MRE has more than doubled the contained gold within the Douta permit to over 1.7 million ounces, with the indicated component of the resource alone exceeding 870,000 ounces of gold compared to the maiden inferred resource of 730,000 ounces. In addition, there are a further 909,000 ounces of inferred resources within the optimised pit shells that we intend to convert to indicated classification with additional infill drilling which forms part of our ongoing 40,000 metre program. This updated resource base provides for a solid foundation for more adva...