Thor Explorations Ltd. (TSX-V: THX) (AIM: THX) is pleased to announce further drilling results from the northern extensions of the Makosa mineralised trend at its Douta Project, Senegal. Wide-spaced exploratory drill sections were completed over a 1,300m northern extension beyond the last line of drilling. Results received to date indicate that gold mineralisation continues to the north and remains open-ended.

Highlights include:

Makosa North

• Drillhole DTRC296

15m at 2.42g/tAu from 65m (includes 10m at 3.21g/tAu from 65m)
3m at 2.88g/tAu from 77m

• Drillhole DTRC281

8m at 1.69g/tAu from 6m
16m at 1.58g/tAu from 17m (includes 3m at 5.53g/tAu from 19m)

• Drillhole DTRC283

9m at 2.93g/tAu from 10m (includes 7m at 3.56g/tAu from 11m)

• Drillhole DTRC311

10m at 1.42g/tAu from 48m

Segun Lawson, President & CEO, stated

“The drilling results from Makosa North are particularly exciting as they suggest that the Makosa gold system continues further to the north than originally expected. Furthermore, several higher-grade intersections were received that may suggest an increase in grade to the north. In addition, the last section drilled on hole DTRC311 intersected 10m at 1.42g/tAu suggesting that the mineralisation is open-ended to the north.”

Introduction

The Douta Gold Project is a gold exploration permit that covers an area of 58 km² and is located within the Kéniéba inlier, eastern Senegal (Figure 1). Thor, through its wholly owned subsidiary, African Star Resources Incorporated, has a 70% economic interest in partnership with the permit holder, International Mining Company SARL. IMC has a 30% free carried interest in its development until the announcement by Thor of a Probable Reserve.

The Douta licence is strategically positioned 4km east of the Massawa North and Massawa Central deposits which form part of the world class Sabadola-Massawa Project that is owned by Teranga Gold Corporation (Figure 1).

The northern parts of the Makosa prospect were tested previously with wide-spaced reverse circulation drilling with mineralisation being intersected on the last exploration drill line. Subsequently a follow up programme was completed to test for possible extensions to the north in previously un-tested ground. The results from this follow-up programme, as reported here, indicate continuing gold mineralisation to the north.

Figure 1: Douta Project Location Map

Drilling Results

The results from the exploratory RC drilling programme at Makosa North are shown in Table 1 and Figures 2 and 3. The full table of results is attached in Appendix 1.

Table 1: Makosa North Significant Results
(0.5g/tAu lower cut off; maximum 2m internal dilution, minimum 2m interval)

Drill samples were analysed by ALS laboratories in Mali using the AA26 fire assay method (50g charge).

The Makosa North drilling has extended the mineralisation a further 1,400m to the north. Significantly, on the last drill section hole, DTRC311 intersected 10m at 1.42g/tAu. This indicates that the mineralisation remains open-ended to the north.

Drillholes DTRC 281 and DTRC283 were drilled at the ends of existing drill sections to test for across-strike extensions of mineralisation with positive results including 16m at 1.58g/tAu and 9m at 2.93g/tAu respectively. These results further resolve a pod of mineralisation that extends over a strike length of nearly 800m.

Figure 2: Makosa North Drillhole Location Map

Figure 3: Map showing significant results obtained in 2021 to date

Qualified Person

The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP), who is designated as a “qualified person” under National Instrument 43-101 and the AIM Rules and has reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling, analytical and test data underlying the information.

About Thor

Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor trades on the TSX Venture Exchange and on AIM.