Thor Explorations’ Segilola Gold Mine Achieves Commercial Production

Segun Lawson, Chief Executive, Thor Explorations

Thor Explorations’ Segilola Gold Mine Achieves Commercial Production

Thor Explorations Limited, a mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso has announced commercial production has been achieved at its wholly-owned Segilola Gold Mine located in Osun State, Nigeria. Read: Gold Mining: Segilola Will Begin Operation in 2021 – CEO

In a statement on Tuesday, the company said the mine is fully operational with approximately 90,000 tonnes of ore material mined to the end of the third quarter.

In addition to this, two ore zones have been prepared for the commencement of higher-grade direct tip operation in October, the statement reads.

The mining fleet has been fully commissioned and mine production has continued through the wet season, with particularly heavy rainfall in September, which is now subsiding as the dry season is approaching which typically runs from late October to early March.

“The process plant is now consistently operating in-line with its design throughput capacity of 715,000 tonnes per annum.

“During the ramp-up, a number of minor faults were identified including a faulty heat exchanger at the mill and a faulty valve which was found to be limiting the performance of the gravity circuit.

“There were also a number of supply chain issues relating to the supply of good quality activated carbon. All faults have been rectified by the EPC contractor and supply chain issues have been resolved”, it said on Tuesday.

Thor Explorations holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. The company trades on AIM and the TSX Venture Exchange under the symbol “THX”.

Thor Explorations’ Segilola Gold Mine Achieves Commercial Production