Thor Explorations Ltd - mineral exploration company focused on developing assets in Nigeria, Senegal and Burkina Faso - For the three months ended on March 31, gold production at Segilola Production totals 20,629 ounces, at an average grade of 2.95 grammes per tonne. Looking ahead, for 2023, production guidance range remains at 85,000 to 95,000 ounces of gold, weighted towards the second half of the year. Identifies new high grade quartz vein system within 15 kilometres of Segilola Near-Mine exploration with multiple high grade drillhole intercepts. Says drilling is ongoing at Douta with a further 40,000 metre drilling programme to be completed in 2023.
Chief Executive Officer Segun Lawson says: "I am pleased to report another quarter of solid production at Segilola for Q1 2023. The planned west wall push-back is progressing and we are well positioned for an increase in gold production following its completion late in Q2 2023 as the mine head grade improves over the next 3-6 months."
Current stock price: 19.40 pence each, up 0.8% on Monday afternoon in London
12-month change: up 0.8%
By Xindi Wei, Alliance News reporter
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Thor Explor (THX)