Tribal warfare kills at least 20 near Porgera mine in PNG, estimates UN
The mine was briefly forced to cease operations as the fighting intensified, according to media reports.
Thor Explorations (TSXV, AIM: THX) has expanded its operations into Côte d’Ivoire by acquiring the Guitry gold project from Endeavour Mining (LSE, TSX: EDV). Total consideration comprises a cash payment of $100,000 and a 2% net smelter royalty.
Guitry is an advanced exploration project located in a highly prospective greenstone belt. Some of the drill results include 12 metres grading 10.4 g/t gold, 16 metres grading 7.90 g/t gold, 24 metres grading 2.02 g/t gold and 16 metres grading 2.25 g/t gold.
Thor said it plans to conduct further exploration work and drilling, targeting a first resource estimate of between 500,000 and 1 million oz. before the end of next year.
In addition to acquiring Guitry, Thor has entered into an option agreement with Goldridge Resources SARL to earn up to an 80% interest in Boundiali, an early-stage exploration permit.
Boundiali is located in northwest Côte d’Ivoire and contains several continuous soil geochemical anomalies that Thor has identified for drilling.
“Côte d’Ivoire hosts over 30% of West Africa’s greenstone belts and is proving to be an emerging region for world-class gold discoveries,” Thor Exploration CEO Segun Lawson said in a news release.
Thor currently holds a 100% interest in the Segilola gold project in Osun, Nigeria, and a 70% economic interest in the Douta gold project in southeastern Senegal.
Shares of Thor Explorations rose 1.4% by 12:32 p.m. EDT. The miner has a market capitalization of C$226 million ($166 million).
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