An infill drilling reverse circulation ('RC') drilling program has targeted the Inferred Resources material within the optimised pit shells with the objective of converting this material to the Indicated Resource classification. In addition, a diamond drilling ('DD') program has been completed within the Makosa and Makosa Tail areas in order obtain samples for detailed metallurgical test work. Further exploration drilling was also completed at the Sambara prospect.
The Company is also pleased to announce the discovery of a new prospect, Makosa East, following the drilling of mineralized intersections.
The assay results from the drilling completed to date include the following highlights:
Makosa Tail: Drillhole DTRC807 3 meters ('m') at 23.35/tAu from 78m
Makosa Tail: Drillhole DTDD0021 8m at 8.08/tAu from 36m
Makosa Tail: Drillhole DTRC848 13m at 4.59/tAu from 96m
Makosa Tail: Drillhole DTRC865 9m at 4.33/tAu from 93m
Makosa Tail: Drillhole DTRC842 18m at 1.82/tAu from 25m
Makosa: Drillhole DTDD0029 16m at 2.03g/tAu from 0m
Makosa Tail: Drillhole DTRC844 10m at 3.00/tAu from 45m
Makosa Tail: Drillhole DTRC812 6m at 4.94/tAu from 50m
'We are pleased to announce further encouraging drilling results from
'Once all the drilling results are in, we look forward to updating our Mineral Resource Estimate to form the basis of a preliminary feasibility study.
'We are also pleased to add the new Makosa East prospect to our development plan. In the coming year we plan to maintain focus on project development in
Introduction
In
At Makosa, zones of gold mineralisation are developed either within a sheared gabbro intrusive or within a steep north-westerly dipping sequence of meta-sedimentary rocks that are in close proximity to the gabbro. Higher grade zones or shoots are suspected to occur along east-west oriented structures that cut across the main north-east trend of the mineralisation.
About Thor
Contact:
Email: info@thorexpl.com
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
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes 'forward-looking statements' within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions that could cause the actual results of the Company to differ materially form the forward-looking statements. Such forward-looking statements, including but not limited to, the Company's ability to fully finance the Project, to bring the Project into operation or to produce gold from the Project, and the use of the proceeds. The words 'may', 'could', 'should', 'would', 'suspect', 'outlook', 'believe', 'anticipate', 'estimate', 'expect', 'intend', 'plan', 'target' and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.
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