|Thor Explorations Ltd. ("Thor" or the "Company") is pleased to announce the results of its initial exploration drilling programme at the Company's Central Houndé Project (the "Project") in south-west Burkina Faso, West Africa.|
Cautionary Note: Minerals resources disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from those respective companies' press releases. A qualified person has been unable to verify the information regarding any resources within adjacent properties, and such resources are not necessarily indicative of potential quantities or grades of mineralization on the Company's own properties.
Thor's Central Houndé Project is located approximately 100km along strike from the recent discoveries mentioned above, within the same greenstone belt. Thor commenced work on the Central Houndé Project in 2012 with regional exploration and reconnaissance trips into specific areas of the permit group. This work identified the Ouéré East zone as the priority area for follow-up exploration. The Ouéré East zone is intersected by the regional north-north-east oriented structure running along the Houndé belt, and was found to include a number of artisanal workings over a 5 km by 1 km area. In late 2012, Thor initiated stage 1 of the exploration of Ouéré East that consisted of selective rock chip sampling and assaying and mapping of the artisanal workings and regional soil sampling over the area. Stage 1 aimed to understand the local geology and structure of the area and to confirm gold mineralisation at the artisanal workings. This was achieved as reported in a previous press release (dated June 24th, 2013).
Stage 2 of the exploration plan of Ouéré East commenced with the initial exploration drilling as reported in this press release, and further work in this stage is now underway with the aim of further developing the geological understanding of the area before further drilling is undertaken.
About the RC Drilling campaign
Drilling results reported here are for downhole intersections and are unlikely to represent the true width of mineralisation. Targets have been tested with too few drillholes to sufficiently understand the nature and orientation of mineralisation on this limited data.
Drill holes were sited to test the depth extensions of artisanal mineralisation and as such were drilled in a number of orientations. The dip of drill holes varied from -50° to -60° depending on the specific target.
A total of 1,835m were drilled on 16 targets, with a maximum hole depth of 160m, and an average of 115m.
Samples consisted of approximately 2.5kg of representative material riffle split from 1m drilled intervals. Samples were dispatched to ALS laboratories in Ouagadougou, Burkina Faso where samples were prepared by fine crushing and pulverising. Samples were analysed by fire assay of a 50g charge with Atomic Absorption finish with a lower detection limit of 0.001 g/t Au.
Quality Assurance and Quality Control (QAQC) procedures were in place for the drilling programme and included the use of certified reference materials, field duplicates and blank samples. The QAQC programme identified no irregularities in drilling programme. The QAQC results have been reviewed by Dr. Field who is a Qualified Person under National Instrument 43-101.
The scientific and technical information contained in this press release has been reviewed by Dr. Matthew Field, Pr.Sci.Nat, who is a qualified person for the purpose of National Instrument 43-101 and an employee of AMEC who have been engaged by Thor Explorations Ltd. to provide advice on exploration data collection and resource estimation. Dr. Field visited the Central Houndé Project during the drilling project in June 2013. His knowledge of Thor's property is limited to information supplied by Thor for review plus public domain information relating to the adjacent properties referred to in this press release.
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Senegal and Burkina Faso. Thor holds a 70% interest in the Douta Gold Project located in southeastern Senegal. The Douta Gold Project lies within the Kéniéba Inlier which hosts significant gold resources and has attracted major international mining companies. Thor also holds an 85% interest in the Bongui and Legue gold permits located in Houndé greenstone belt, and a 100% interest in the Ouéré gold permit in south west Burkina Faso. The three Burkina Faso permits comprise the Central Houndé Project. Thor trades on the TSX Venture Exchange under the symbol "THX".
THOR EXPLORATIONS LTD.
Per: "Segun Lawson"
President & CEO
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Cautionary Note Regarding Forward-Looking Statements
This press release may contain "forward looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of the Company made at the date that such statements are made. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Any forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix A: Drilling Results