Central Houndé Project

The Company's Central Houndé Project, consists of three grassroots exploration permits located in the highly prospective Houndé Greenstone belt approximately 260km south west of Ouagadougou. The three permits cover a total area of 474km2 over the Houndé Belt.

Through the Company's wholly owned subsidiaries in Burkina Faso, Thor has a 100% interest in three contiguous permits, which form the Central Houndé Project.

Acacia Mining Plc – Farm-Out Agreement

In April 2015, Thor entered into a farm-out agreement with Acacia Mining Plc ("Acacia"), relating to Thor's Central Hounde' Project (the "Project") in Burkina Faso whereby Acacia will had the exclusive option to earn up to a 51% interest in the Project by satisfying certain conditions over a 4-year Earn-in period and then the right to acquire an additional 29% interest, for an aggregate 80% interest in the Project, upon declaration of a Pre-Feasibility Study.

In April 2016 Acacia exercised its option and will now further spend a minimum of US$1 million to earn a 51% interest in the project.

Central Houndé Project Highlights:

  • Land package of 474 sq km of Birimian Greenstone in the prospective Houndé Belt in south-west Burkina Faso
  • JV with Acacia Mining PLC
  • Acacia to Earn-in up to 80% by funding all costs up to and including completion of a Pre-Feasibility Study
  • Minimum spend of $3.5m in first three years
  • Decision to Mine Payment to Thor of $1m
  • Work already done during initial Option Period identified gold anomalies and targets worthy of follow up by Acacia
  • Drilling program commenced

Subscribe to our Email List