VANCOUVER, British Columbia, Sept. 18, 2017 (GLOBE NEWSWIRE) --
Thor Explorations Ltd. (TSX VENTURE:THX) (“Thor” or the “Company”) is pleased to announce positive results of its recently completed 2,000 metre RC drill program (“The 2017 RC Program”) on its Douta Gold Project, Senegal.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/6b13febf-813a-4b49-a613-964b0a2c59f2
http://www.globenewswire.com/NewsRoom/AttachmentNg/033dc900-96ac-4145-8dfb-1447e60de2ee
http://www.globenewswire.com/NewsRoom/AttachmentNg/d4672a87-11f0-4967-bbab-b28b6604688c
http://www.globenewswire.com/NewsRoom/AttachmentNg/f330c6f2-da22-4804-abe9-ce0162f12472
http://www.globenewswire.com/NewsRoom/AttachmentNg/096055a2-29d3-4b27-96e2-84690310d080
The 2017 RC Program has identified a number of wide, near-surface significant intersects on the Makosa Prospect in the Douta Project, notably 9.5 metres at 8.1g/tAu including 6.9 metres at 10.9g/tAu.
Highlights
- Near-surface gold mineralisation
- 9.5 metres true width at 8.1 g/tAu including 6.9 metres true width at 10.9g/tAu.
- 18.9 metres true width at 2.0 g/tAu including 10.3 metres true width at 2.8 g/tAu
- 12.9 metres true width at 2.1 g/tAu
- A number of holes ended in mineralisation, indicating potential for further mineralisation below drilled horizon
The Douta Gold Project, Senegal (“Douta”) is located in the prospective, gold-endowed Birimian Greenstone belt in south east Senegal, West Africa. Douta lies within 5 kilometres of Randgold’s 3.6Moz Massawa resource and is controlled by the Main Transcurrent Shear Zone (MTZ).
To date, diamond and RC drilling have been used to delineate gold mineralisation at the Douta Project in Senegal. A total of 13 diamond holes for 1,531m and 24 RC drillholes for 2,000m have been completed over a strike length of approximately 2.1km.
The 2017 RC Program has defined several mineralised zones up to 35 metres true width with mineral resource potential. Based on the current data, the mineralization appears to be open along strike and down dip and at depth.
Thor is reviewing all technical data to develop and prioritise an exploration plan which includes further drilling and is scheduled to commence at the end of the rainy season, in November 2017.
Segun Lawson, President & CEO, stated, "We are extremely excited by these drill results on our Douta Project which clearly follows up on our previous exploration success and are directly comparable with results of other deposits in the region. The drilling campaign has been a success and these results so early on and at such shallow depths confirm management’s belief in the prospectivity of the Douta Project. Thor is looking forward to adding to its resource inventory in addition to the advanced Segilola Gold Project in Nigeria.”
A further drill program is being designed to test the deposit at depth and in both directions along strike and down dip.
Table 1: Significant Intersections, Douta Project, September 2107
| HOLE ID | Easting | Northing | RL | Total
Depth
(m) | Azimuth | Dip | From
(m) | To
(m) | Downhole
Interval
(m) | True
Thickness
(m) | Average
Grade
(Aug/t) |
| DTRC003 | 175402 | 1436065 | 167 | 60 | 130 | -50 | 19 | 34 | 15 | 12.9 | 2.1 |
| DTRC004 | 175377 | 1436070 | 165 | 100 | 130 | -50 | 37 | 59 | 22 | 18.9 | 2.0 |
| includes | | | | | | | 45 | 57 | 12 | 10.3 | 2.8 |
| DTRC006 | 175479 | 1436084 | 174 | 54 | 130 | -50 | 3 | 17 | 14 | 12.0 | 1.4 |
| DTRC007 | 175462 | 1436097 | 172 | 108 | 130 | -50 | 4 | 26 | 22 | 18.9 | 1.4 |
| includes | | | | | | | 4 | 20 | 16 | 13.8 | 1.6 |
| and | | | | | | | 69 | 79 | 10 | 8.6 | 2.5 |
| DTRC019 | 175787 | 1436546 | 183 | 126 | 130 | -50 | 88 | 97 | 9 | 7.7 | 2.8 |
| includes | | | | | | | 88 | 92 | 4 | 3.4 | 5.6 |
| DTRC023 | 175875 | 1436595 | 183 | 66 | 130 | -50 | 0 | 11 | 11 | 9.5 | 8.1 |
| includes | | | | | | | 2 | 10 | 8 | 6.9 | 10.9 |
| |
intersections and grades calculated at 0.5g/tAu cut off, 2m maximum internal dilution
included intervals calculated at 1.0g/tAu cut off with maximum 2m internal dilution
Complete set of results are included in Appendix I
QUALIFIED PERSON
The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP), who is designated as a “qualified person” under National Instrument 43-101 and has reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling, analytical and test data underlying the information.
About Thor
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor holds a 100% interest in the Segilola Gold Project located in Osun State Nigeria, a 70% interest in the Douta Gold Project located in south-eastern Senegal, and a 49% interest in the Bongui and Legue gold permits located in Houndé greenstone belt, south west Burkina Faso. Thor trades on the TSX Venture Exchange under the symbol "THX".
THOR EXPLORATIONS LTD.
Per: “Segun Lawson”
President & CEO
For further information please contact:
Email: info@thorexpl.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.
Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes, without limitation, statements about the Company’s drilling program and what it will mean to the Company as it tests the continuity of the mineral body.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
APPENDIX I: Table of Results RC Drilling Program
| HOLE ID | Easting | Northing | RL | Total
Depth
(m) | Azimuth | Dip | From
(m) | To
(m) | Downhole
Interval
(m) | True
Thickness
(m) | Average
Grade
(Aug/t) |
| DTRC001 | 175367 | 1436020 | 164 | 60 | 130 | -50 | 20 | 26 | 6 | 5.2 | 0.8 |
| DTRC003 | 175402 | 1436065 | 167 | 60 | 130 | -50 | 19 | 34 | 15 | 12.9 | 2.1 |
| includes | | | | | | | 20 | 34 | 14 | 12.0 | 2.2 |
| and | | | | | | | 38 | 57 | 19 | 16.3 | 0.7 |
| DTRC004 | 175377 | 1436070 | 165 | 100 | 130 | -50 | 37 | 59 | 22 | 18.9 | 2.0 |
| includes | | | | | | | 45 | 57 | 12 | 10.3 | 2.8 |
| | | | | | | | 62 | 66 | 4 | 3.4 | 2.2 |
| DTRC005 | 175420 | 1436090 | 165 | 90 | 130 | -50 | 28 | 33 | 5 | 4.3 | 3.6 |
| includes | | | | | | | 28 | 33 | 5 | 4.3 | 3.6 |
| and | | | | | | | 37 | 43 | 6 | 5.2 | 1.9 |
| and | | | | | | | 53 | 62 | 9 | 7.7 | 1.2 |
| DTRC006 | 175479 | 1436084 | 174 | 54 | 130 | -50 | 3 | 17 | 14 | 12.0 | 1.4 |
| | | | | | | | 7 | 17 | 10 | 8.6 | 1.8 |
| DTRC007 | 175462 | 1436097 | 172 | 108 | 130 | -50 | 4 | 26 | 22 | 18.9 | 1.4 |
| includes | | | | | | | 4 | 20 | 16 | 13.8 | 1.6 |
| and | | | | | | | 31 | 41 | 10 | 8.6 | 1.3 |
| DTRC008 | 175510 | 1436121 | 175 | 60 | 130 | -50 | 8 | 21 | 13 | 11.2 | 1.0 |
| DTRC009 | 175472 | 1436151 | 172 | 120 | 130 | -50 | 25 | 31 | 6 | 5.2 | 1.8 |
| and | | | | | | | 66 | 82 | 16 | 13.8 | 1.8 |
| includes | | | | | | | 69 | 79 | 10 | 8.6 | 2.5 |
| DTRC010 | 175545 | 1436160 | 177 | 60 | 130 | -50 | 32 | 40 | 8 | 6.9 | 1.1 |
| DTRC011 | 175511 | 1436189 | 175 | 120 | 130 | -50 | 25 | 34 | 9 | 7.7 | 1.6 |
| includes | | | | | | | 25 | 33 | 8 | 6.9 | 1.7 |
| DTRC012 | 175685 | 1436299 | 177 | 60 | 130 | -50 | 22 | 37 | 15 | 12.9 | 1.1 |
| DTRC013 | 175664 | 1436314 | 178 | 80 | 130 | -50 | 37 | 38 | 1 | 0.9 | 1.5 |
| DTRC014 | 175645 | 1436329 | 178 | 108 | 130 | -50 | 24 | 30 | 6 | 5.2 | 2.7 |
| includes | | | | | | | 24 | 29 | 5 | 4.3 | 3.1 |
| DTRC015 | 175618 | 1436223 | 181 | 60 | 130 | -50 | 27 | 29 | 2 | 1.7 | 1.3 |
| DTRC016 | 175599 | 1436240 | 179 | 80 | 130 | -50 | 22 | 29 | 7 | 6.0 | 1.4 |
| DTRC017 | 175579 | 1436256 | 176 | 84 | 130 | -50 | 57 | 71 | 14 | 12.0 | 0.8 |
| DTRC018 | 175812 | 1436525 | 183 | 90 | 130 | -50 | 11 | 14 | 3 | 2.6 | 1.5 |
| DTRC019 | 175787 | 1436546 | 183 | 126 | 130 | -50 | 88 | 97 | 9 | 7.7 | 2.8 |
| includes | | | | | | | 88 | 92 | 4 | 3.4 | 5.6 |
| DTRC020 | 175844 | 1436556 | 183 | 72 | 130 | -50 | 8 | 18 | 10 | 8.6 | 1.2 |
| DTRC021 | 175716 | 1436410 | 178 | 84 | 130 | -50 | 49 | 53 | 4 | 3.4 | 2.4 |
| DTRC022 | 175821 | 1436575 | 185 | 110 | 130 | -50 | 69 | 84 | 15 | 12.9 | 1.0 |
| DTRC023 | 175875 | 1436595 | 183 | 66 | 130 | -50 | 0 | 11 | 11 | 9.5 | 8.1 |
| includes | | | | | | | 2 | 10 | 8 | 6.9 | 10.9 |
| and | | | | | | | 15 | 31 | 16 | 13.8 | 0.8 |
| DTRC024 | 175852 | 1436613 | 182 | 108 | 130 | -50 | 43 | 44 | 1 | 0.9 | 2.7 |
| |
intersections and grades calculated at 0.5g/tAu cut off, 2m maximum internal dilution
included intervals calculated at 1.0g/tAu cut off with maximum 2m internal dilution