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(Alliance News) - Thor Explorations Ltd announced on Monday that its supply chain issues had now been resolved and Segilola processing plant was now running continuously at design capacity.
The Vancouver-based gold exploration and development company with projects focused in West Africa said the Segilola plant processed 61,128 tonnes of ore during December with a head grade of 3.4 grammes per tonne.
Gold production averaged just over 1,500 ounces per week in December with total gold production for that month being 6,119 ounces, Thor Explorations continued.
Thor Explorations expects production for the first quarter of 20,000 to 22,000 ounces and full year production for 2022 of 80,000 to 100,000 ounces. At the site's first gold pour in July, the company said it was targeting 85,000 ounces of gold per annum.
At its Douta Gold project in Senegal, Thor Explorations intends to commence reverse circulation drilling in February with the aim to complete a preliminary feasibility study in the fourth quarter of 2022.
Shares in Thor Explorations were up 6.1% at 15.38 pence on Monday afternoon in London.
By Heather Rydings; heatherrydings@alliancenews.com
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