LONDON (ShareCast) - (Sharecast News) - Thor Explorations reported further positive drilling results from its maiden campaign at the 100%-owned Guitry Gold Project in Côte d'Ivoire on Wednesday, confirming the presence of high-grade mineralisation at depth and paving the way for a maiden resource estimate later this year.
The AIM-traded firm said the latest assay results from the 3,000-metre reverse circulation programme, completed in May and June, included eight metres grading 14.54 grams per tonne of gold from 114 metres, four metres at 10.68 grams per tonne from 81 metres, and seven metres at 5.31 grams per tonne from 155 metres.

Thor said the drilling had intersected multiple mineralised zones in fresh bedrock, with grades appearing to increase with depth.

"We are extremely pleased to report further positive drilling results from our maiden drilling campaign in Côte d'Ivoire," said president and chief executive Segun Lawson.

"Our drilling has continued to successfully intersect high grade mineralisation at depth at Guitry, which prior to our ownership, was characterised by numerous gold-in-soil geochemical anomalies that had only been partially drill tested with shallow drilling."

Lawson added that mineralisation at Guitry "remains open at depth" and that significant soil anomalies across the 295 square-kilometre licence area remain untested.

"We look forward to returning later this quarter following the rainy season to continue the next phase of drilling and working towards our target of a maiden resource in Côte d'Ivoire before the end of the year," he said.

The Guitry Project, acquired from Endeavour Mining earlier this year, lies on the Tehini Greenstone Belt, part of a geological formation hosting several major West African gold deposits.

Thor said further drilling would focus on extending the mineralised zones at Krakouadiokro and Gbaloukro, and testing new geochemical anomalies along a 10-kilometre prospective strike.

At 0844 BST, shares in Thor Explorations were up 5.29% at 54.75p.

Reporting by Josh White for Sharecast.com.

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