The Canadian mineral exploration company said that one of the key findings from the metallurgical test work program was the confirmation of 77.5% average gravity recovery. The company could also confirm 98.9% of total recovery at 106 µm grind size and 24hr cyanide leach.
Further, the results showed that the average recovered head grade was 8.73g/tAu, in comparison to estimated grade of 6.66 g/t Au.
Thor Explorations has allocated an investment of $71.4m for the development of the Segilola Gold Project, which will be an open pit gold mining project.
The metallurgical test work program on the gold project was carried out by Thor Explorations with Independent Metallurgical Operations (IMO) Perth by using a representative bulk sample, weighing over 500kg of diamond core.
Thor Explorations president & CEO Segun Lawson said: “The results confirm substantial gravity recovery is achievable and a significant opportunity exists for optimisation of the process plant, resulting in a reduced operating cost, increased total recovery and improved process efficiency.
“The results also return a 30% increase in the recovered grade compared to the estimated grade.”
The Canadian firm expects the DFS work streams, which are currently being executed, to enhance the Segilola Gold Project further.
Located about 120km north east of Lagos in the Osun region, the Segilola Gold Project has a probable reserve made up of 448,000 ounces of gold grading 4.2 grams per tonne (“g/t”) of gold within a global resource base of 862,000 ounces gold.
Thor Explorations said that the data collected from the metallurgical test work program indicates that a major portion of the gold occurs as coarse particles. The company expects these to be most efficiently and economically, recovered through the gravity separation process.
Headquartered in Vancouver, Thor Explorations is engaged in the acquisition, exploration and development of mineral assets found across Nigeria, Senegal and Burkina Faso.
