This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon the publication of this Announcement, this inside information is now considered to be in the public domain.
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2022) - Thor Explorations Ltd. (TSXV:THX) (AIM: THX) ("Thor Explorations" or the "Company") is pleased to provide an operational update and outlook for the full year of 2022.
Operational Update
Outlook for 2022
Follow the link for the Company's updated presentation: https://thorexpl.com/investors/presentations
Segun Lawson, President & CEO, stated:
"Following the challenges experienced post commercial production, we are very encouraged by our operational performance at the end of the year and going into 2022. The key supply chain issues experienced in Q3 and Q4 2021 have been resolved. The mine laboratory has been commissioned which further optimized our processing ability. Most encouragingly, the process plant ran without any major issues, achieving its throughput rate throughout the month of December and we now enter 2022 very well positioned to process higher grade ore.
In Nigeria, the near mine exploration drilling program which had been put on hold whilst awaiting the completion of the lab will now resume and focus on completing the remainder of the 4,000 metre program, of which 1,200 metres have been drilled. This drilling program will also test a number of satellite targets which have been further defined over the last three months.
"Lastly, we remain excited about the additional newly acquired exploration opportunities in Nigeria and at the Douta Project in Senegal. Drilling will resume at Douta in February to build on the previously announced maiden resource estimate of 730,000 ounces at 1.5g/t in the inferred category, and also on the newly discovered Mansa prospect."
Further details can be found on the Company's website: www.thorexpl.com
About Thor Explorations
Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol "THX".
THOR EXPLORATIONS LTD. Segun Lawson President & CEO
For further information please contact:
Thor Explorations Ltd Email: [email protected]
Canaccord Genuity (Nominated Adviser & Broker)Henry Fitzgerald-O'Connor / James Asensio / Thomas Diehl
Tel: +44 (0) 20 7523 8000
Hannam & Partners (Broker)Andrew Chubb / Matt Hasson / Nilesh Patel / Franck Nganou
Tel: +44 (0) 20 7907 8500
Fig House Communications (Investor Relations) Tel: +1 416 822 6483 Email: [email protected]
Blytheweigh (Financial PR) Tim Blythe / Megan Ray / Rachael Brooks Tel: +44 207 138 3203
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109533