Thor Explorations Announces Robust Results of Independent Preliminary Feasibility Study and Maiden Probable Mineral Reserve at Segilola, Nigeria

Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is pleased to announce positive results for its Independent Preliminary Feasibility Study (“PFS”) and maiden Probable Mineral Reserve, prepared pursuant to National Instrument 43-101 (“NI 43-101”) for its 100% owned Segilola Gold Project (“Segilola” or the “Project”) in Nigeria.
As quoted in the press release:

Segun Lawson, President & CEO, commented:
“The Segilola Project benefits from many strong characteristics, including its high grade nature together with execellent metallurgy and attractive government fiscal incentives. This results in robust cashflows from commencement of operations and relatively low capital intensity. We are pleased with the results outlined in the Preliminary Feasibility Study which validates our belief in the potential of the Project. We believe scope exists to improve the Project economics as we continue to optimise and de-risk the Project through the Definitive Feasibility Study phase, which we aim to complete in H1 2018 and to then progress directly to Project development. The Project has significant exploration upside that can potentially both add to our open pit production and extend the life of mine as we continue to expore and assess the potential for a transition to underground mining operations.”

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