Thor Explorations Reports Positive Drilling Results at Segilola Gold Mine

In October 2024, Thor Explorations Ltd. announced initial positive results from a diamond drilling program at the Segilola Gold Mine in Nigeria. The program aims to explore the down-plunge potential beneath the current open pit extents. The first two drill holes, SNMDD011 and SNMDD012, revealed significant gold mineralization, with grades of 11.24 grams per tonne and 3.22 grams per tonne, respectively. These results indicate the presence of high-grade gold mineralization 50 meters below the current pit design, suggesting potential for further underground mining. The ongoing drilling program consists of 12 holes, with five already completed. The results from the southernmost shoot are encouraging, as they align with the company's grade control data and structural studies. The mineralization is found within a complex geological setting, characterized by metamorphosed sediments and gneiss formations. The presence of two high-grade shoots, R1 and R2, indicates good continuity of gold mineralization in the area. The findings mark a significant step for Thor Explorations, as they demonstrate the potential for expanding the resource base at Segilola. The company plans to continue its drilling efforts to further assess the remaining shoots and potentially extend the program based on the results. This proof-of-concept drilling is crucial for the future development of the mine and could enhance its economic viability. Overall, the initial drilling results are a positive indication of the Segilola Gold Mine's potential, reinforcing the company's strategy to explore and develop underground mining opportunities.