Thor Explorations CEO on next steps for Segilola gold mine following successful drilling programme

Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) CEO Segun Lawson talked with Proactive's Stephen Gunnion about the company’s latest drilling results at its Segilola gold mine in Nigeria. Lawson explained that the priority now is to extend the mine life following the successful repayment of construction debt at the end of last year.

He said: “Our top priority right now is extending the mine life, because having no debt and having such a low cost mine every year of additional production is highly value accretive.”

Lawson outlined how drilling beneath the existing pit and into satellite deposits is producing encouraging results. The latest intersections included 4.2 metres at almost 12.5 grams per tonne and 2 metres at around 18 grams per tonne. He noted that these are “extremely mineable” widths that sit well below the final pit design, supporting the potential for additional ounces beyond the current plan.

The CEO also discussed the potential to transition into underground mining, pointing out that higher gold prices shift the economics in favour of further expansion. He confirmed exploration spending has risen to $11.5 million this year, with additional drilling rigs deployed to accelerate results.

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