The Douta Gold Project is a gold exploration permit that covers an area of 103 km2 and is located within the Kéniéba inlier, eastern Senegal. The northeast trending permit (Figure 1) has an area of 103 km2. Thor, through its wholly owned subsidiary African Star Resources Incorporated (“African Star”), has acquired, 70% of the licence from the permit holder International Mining Company SARL (“IMC”). IMC has a 30% free carry until the announcement by Thor of a Probable Reserve, after which it will have to contribute or sell its stake to African Star.
The Douta licence is strategically positioned between the world class deposits of Massawa and Sabadola to the west and the Makabingui deposit to the east. Within the licence five separate gold prospects have been identified using surface geochemical sampling. These comprise the more advanced Makosa prospect, where first-pass RC and diamond drilling has defined mineralisation over a near 3km strike length, and the earlier exploration stage Maka, Mansa, Samba and Makosa Tail prospects.
In late 2020, a 10,000m Reverse Circulation ("RC") drilling program was completed across three prospects; Makosa North, Makosa Tail and Maka.