Thor Announces New Gold Targets in Burkina Faso
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 17, 2014) - Thor
Explorations Ltd. (Thor) (TSX-VENTURE:THX) is pleased to announce
the discovery of five additional gold-in-soil anomalies through an
ongoing regional exploration programme at the Legue granite contact
in the south of the Central Houndé Project in Burkina Faso. In
addition, three gold in soil anomalies previously identified in the
Ouere East area of the Central Hounde Project have been confirmed
through infill geochemistry. Ongoing exploration at the Douta
Project in Senegal has confirmed and better defined the
gold-in-soil anomalies at seven gold targets, which are located
close to the Sambarabougou granite in the north of the permit.
Summary
- In Burkina Faso, the most recent results of the ongoing
regional soil geochemistry programme have identified five new
gold-in-soil anomalies at the contact of the Legue Granite and
Birimian greenstone, in the South of the Central Hounde
Project
- Also at the Central Hounde Project, three gold-in-soil
anomalies identified in 2013 near the Poya Granite of the Ouere
East area have been confirmed and better defined through an infill
soil sampling campaign
- In Senegal, recent results covering seven gold targets have
confirmed and better defined previous regional work through an
infill soil sampling programme. Three of these gold targets are
located within 5km of the Makabingui Gold Deposit, held by Bassari
Resources, which is adjacent to the Douta Permit.
Thor intend to continue exploration at granite contact areas in
both projects both to generate further new anomalies in untested
ground and to better define existing anomalies. Once complete, Thor
will be in a position to advance exploration at prioritised targets
through more advanced exploration techniques.
Gareth Northam, Thor's Technical Director said "We are
delighted that our current exploration strategy is paying dividends
so early on in the campaign. Competitors have made significant gold
discoveries near granitic intrusions into Birimian greenstone belt
rocks and our identification of new gold-in-soil anomalies in a
similar geological setting continue to support this exploration
strategy."
Operational update - Burkina Faso
Thor is continuing to focus exploration near the contacts
between the Poya and Legue granite plutons and the surrounding
Birimian metavolcanics and metasedimentary lithologies. Further to
the north of the Hounde greenstone belt, Roxgold and Semafo have
made successful discoveries of the 55 Zone and the Siou deposits
respectively, both of which occur near the edges of granite
plutons. Both of these deposits have disclosed grades above 3 grams
per tonne gold.(1), (2) The locations of these deposits relative to
Thor's Central Hounde Project were provided in the news release
dated November 6th, 2013, along with the resource grades and
tonnages (link: www.thorexpl.com/s/News.asp)
Over 1,300 soil samples were taken at three areas on regional
grids spaced 200m x 50m and 400m x 50m covering three priority
areas of the Legue Granite contacts. Initial results from the soil
geochemistry programme have identified five new gold-in-soil
anomalies in the three areas tested, and also include the
identification of an artisanal gold mining site currently being
exploited. The gold anomalies and the tested areas are detailed in
the map "initial regional soil sampling at Legue, Central
Hounde Project" available on the company's website at the
following link: www.thorexpl.com/s/Maps.asp.
In addition to this regional soil campaign, Thor has also been
undertaking infill geochemistry at known gold-in-soil anomalies
previously announced in the Ouere East area, where drilling in 2013
confirmed a number of hard rock gold systems (see news releases
dated November 6th, 2013). To date, three targets have been sampled
and results have confirmed and improved the definition of the
surface expression of gold mineralisation in the area.
The regional geochemical program has covered approximately 20%
of the Legue Granite contact area, with the remaining contact areas
also considered prospective for gold mineralisation. The
exploration team are continuing the exploration programme over
these untested areas and are now planning to undertake further
infill geochemistry on the newly discovered targets in Legue and
Ouere East.
Operational update - Senegal
In Senegal, the exploration team have been focussing on
increasing the understanding of known gold-in-soil anomalies which
were identified prior to 2013. Seven targets were prioritised for
follow up work based on favourable geology and positive geochemical
results. A number of the targets occur within a kilometre of the
Makabingui deposit which is located near the southern contact of
the Sambarabougou Granite. The Makabingui gold deposit is being
explored by Bassari Resources and hosts an indicated resource of
2.6 Mt at 4.0 g/t for 0.34 Moz gold and an inferred resource of 9.3
Mt at 2.2 g/t for 0.67Moz gold (Source: Bassari company
presentation dated 22nd November 2013, see www.bassari.com.au.
(2)
Over 1,000 samples have so far been analysed across the seven
targets at variable sample spacing appropriate to the targets. The
locations of these seven target areas are shown in the accompanying
map titled "infill geochemistry at the Douta Project",
available on the company's website at the following link:
www.thorexpl.com/s/Maps.asp. Results from the current programme
have confirmed earlier positive results at all targets tested and
help verify the extent and strength of the gold-in-soil
anomaly.
Technical
A standard approach to soil sampling was taken. Each soil sample
consisted of approximately 1 kg of soil, which was collected from
approximately 40cm below the ground surface. Samples were bagged
and labelled on site and dispatched to the SGS Laboratory in
Ouagadougou where samples were prepared by fine crushing and
pulverising. Soil samples were analysed by Bulk Leach Extractable
gold with an Atomic Absorption finish, with a lower detection limit
of 0.001 g/t Au.
The soil programme was used only to guide further exploration
and results are not suitable for use in resource modelling. As
such, different Quality Assurance / Quality Control (QA/QC)
procedures, considered appropriate for this type of sampling were
applied. These included the submission of routine blanks and
duplicates with internal laboratory standards being used to monitor
analytical accuracy. The QAQC results have been reviewed by Dr.
Field who is a Qualified Person under National Instrument
43-101.
Note (1): Siou Deposit: Refer to Semafo NI 43-101 Technical
Report effective date October 4th 2013, and 55 Zone: Refer to
Roxgold NI 43-101 Technical Report effective October 29th, 2013.
Both reports can be viewed at www.sedar.com. Note (2) Cautionary
statement: competitor resources mentioned in this news release are
not necessarily indicative of potential quantities or grades of
mineralization on the Company's own properties.
About Thor Explorations Ltd.
Thor Explorations Ltd. is a Canadian mineral exploration company
engaged in the acquisition, exploration and development of mineral
properties located in Senegal and Burkina Faso. Thor holds a 70%
interest in the Douta Gold Project located in southeastern Senegal.
The Douta Gold Project lies within the Kéniéba Inlier which hosts
significant gold resources and has attracted major international
mining companies. Thor also holds an 85% interest in the Bongui and
Legue gold permits and 100% interest in the Ouéré gold permit
located in Houndé greenstone belt, south west Burkina Faso. Thor
trades on the TSX Venture Exchange under the symbol "THX".
Qualified Person
The scientific and technical information contained in this press
release has been reviewed by Dr. Matthew Field, Pr.Sci.Nat, who is
a qualified person for the purpose of National Instrument 43-101
and an employee of AMEC who have been engaged by Thor Explorations
Ltd. to provide advice on exploration data collection and resource
estimation. Dr. Field visited the Central Houndé Project in June
2013. His knowledge of Thor's property has been supplemented by
information supplied by Thor for review plus public domain
information relating to the adjacent properties referred to in this
press release. Dr Edmund Sides of AMEC (also a qualified person for
the purposes of National Instrument 43-101) visited the Douta
project in Senegal in January 2012. Dr Field also visited the Douta
licenses in Senegal in June 2012.
THOR EXPLORATIONS LTD.
Segun Lawson, President & CEO
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