Mining industry

Thor Explorations Reports Positive Findings from Segilola Gold Mine Drilling Programme

Strategic Insights

Aug 17, 2025 — 1 min read

Shares in Vancouver-based Thor Explorations Ltd edged higher on Monday as the company announced positive findings from its diamond drilling programme at the Segilola gold mine in Nigeria. The results demonstrate "continued high grade mineable mineralisation" beneath the open pit, with the company aiming to extend the mine's life. Key intersections included a gold intercept grading of 12.4 grammes per tonne at a depth of 295 metres and 17.86g/tAu starting from 195.5 metres. President & Chief Executive Segun Lawson expressed optimism about the results, highlighting the importance of extending the mine's life and increasing the overall underground resource.

Key Takeaways:

Thor Explorations Ltd reported positive findings from its diamond drilling programme at the Segilola gold mine in Nigeria, demonstrating "continued high grade mineable mineralisation" beneath the open pit.
The company aims to extend the Segilola mine life through the ongoing drilling program, which has been designed to upgrade parts of the remaining inferred resource and increase the size of the overall underground resource.
Notable drillhole results include a gold intercept grading of 12.4 grammes per tonne at a depth of 295 metres (SNMDD060) and 17.86g/tAu starting from 195.5 metres (SNMDD061).
President & Chief Executive Segun Lawson emphasized the company's priority to extend the Segilola mine life and increase the underground resource to support a longer life-of-mine.
The drilling program is designed to test targets that remain open and provide further opportunities for extending the mine's life.

Statistics:

Shares in Thor Explorations Ltd were 3.8% higher at 49.80 pence on Monday morning in London.
The drilling programme aims to upgrade parts of the 1.5 million oz inferred gold resource at the Segilola deposit.
The open pit is currently at a depth of 295 metres, with the company looking to extend the mine life through the ongoing deep diamond drilling program.

Sources:

Alliance News reporter By Christopher Ward, comments and questions to newsroom@alliancenews.com
Copyright 2025 Alliance News Ltd. All Rights Reserved.

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