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ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2% ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2%
Drill Results

Thor drills 4.2 m of 12.4 g/t Au at Segilola

By The Northwire Desk — AI Analysis Aug 18, 2025 · 12:39 THX · 0.91 Thor Explorations Ltd.
THX · Price

Executive Summary

  • Thor Explorations announced high‑grade gold intersections from its deep diamond drilling program at the Segilola mine, indicating significant mineralization beneath the current open pit.
  • Intersections include 4.2 m @ 12.4 g/t Au, 2 m @ 17.86 g/t Au, 4.5 m @ 3.71 g/t Au and 5.9 m @ 6.0 g/t Au, all from depths below the pit floor.
  • The company increased its 2024 exploration budget to $11.5 million and plans to commission on‑site drilling rigs to accelerate further testing of down‑plunge targets, with the aim of extending mine life either by deepening the open pit or transitioning to underground mining.

Key Details

  • Drill Hole SNMDD060: 4.2 m interval grading 12.4 g/t Au from 295 m depth.
  • Drill Hole SNMDD061 (first intercept): 2.0 m interval grading 17.86 g/t Au from 195.5 m depth.
  • Drill Hole SNMDD061 (second intercept): 4.5 m interval grading 3.71 g/t Au from 222 m depth.

  • Drill Hole SNMDD059: 5.9 m interval grading 6.0 g/t Au from 291 m depth.

  • Total drilling to date: 60 holes, 16,520 m of NQ diamond core.

  • Assay protocol: fire‑assay with duplicate analyses (AuR1, AuR2); QA/QC performed by MSA Laboratories.

  • Significant intercepts defined as ≥0.5 g/t Au over ≥0.5 m interval, with internal dilution ≤1 m; results above 3 g·m⁻¹ (true width) are highlighted.

  • Geological context: Intersections occur in the Southern zone’s “400 lode” (high‑grade, thin) and “300 lode” (more continuous, 3–5 m true width).

  • Previous resource base (PEA 2018): 28,000 oz indicated at 9.4 g/t Au; 90,000 oz inferred at 7.9 g/t Au.

  • Strategic actions:

  • Review option to deepen the open pit versus short‑term underground transition.
  • Increase exploration budget to $11.5 M for 2024.
  • Commission company‑owned drilling rigs for faster, more flexible field operations.

  • Continue geotechnical and metallurgical studies to support resource expansion.

  • Qualified Person: Alfred Gillman, Fellow AusIMM, certified under NI 43‑101 and AIM rules.

Notable Quotes

“We are delighted to report continued positive progress from our deep diamond drilling program at Segilola… The results demonstrate continued high‑grade mineable mineralization beneath the pit and look forward to testing these targets, which remain open.” – Segun Lawson, President & CEO, Thor Explorations Ltd.

All non‑material boilerplate, safe‑harbor language, and company background sections have been omitted.

Read the original news release →

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Production / Operations