LONDON (ShareCast) - (Sharecast News) - Thor Explorations announced further significant intersections from its initial drilling campaign at the 100%-owned Guitry gold project in Côte d'Ivoire on Monday, marking the completion of its maiden exploration programme in the country.
The AIM-traded company said the campaign, comprising 4,604 metres of reverse circulation drilling, had provided insights into the geometry and geological controls of gold mineralisation at the site.

Recent assay highlights included six metres at 9.63 grams per tonne of gold from 89 metres, seven metres at 1.50 grams per tonne from 72 metres, and 14 metres at 1.30 grams per tonne from 57 metres.

Chief executive Segun Lawson said the results confirmed the presence of previously untested deeper mineralisation and demonstrated the project's potential scale.

"We are pleased to report continued positive drilling results from Côte d'Ivoire, completing a successful maiden drilling campaign in country," he said.

"This drilling campaign has intersected and confirmed previously untested deeper bedrock mineralisation, which remains open."

Lawson said Thor planned to begin further step-out drilling once the rainy season ends later this year, aimed at expanding the resource potential at Guitry.

"In the final quarter of the year, once the rainy season is over, we have planned further step-out drilling programmes that will be designed to grow the potential resource inventory at Guitry," he said.

"In addition to this, we will be carrying out a permit-wide auger drilling campaign to test the previously identified soil anomalies."

Thor acquired the Guitry project from Endeavour Mining earlier in the year for $0.1m in cash and a 2% net smelter royalty.

The project, located around 220 kilometres west of Abidjan, covers 295 square kilometres of the Tehini Greenstone Belt, part of a major gold-bearing geological system extending into Burkina Faso.

Lawson said the company was encouraged by the results and intends to accelerate exploration across its Ivorian portfolio.

"Côte d'Ivoire is a leading West African gold mining and exploration region, hosting over 30% of the area's greenstone belts and emerging as a site for world-class gold discoveries," he said.

"We are excited to be returning to the field shortly, when we will also be carrying out our maiden drilling campaign on our Marahui permit."

At 1522 BST, shares in Thor Explorations were up 3.44% at 73.44p.

Reporting by Josh White for Sharecast.com.

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