Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Thor announces positive drilling results from Segilola Gold Mine
(Sharecast News) - Thor Explorations announced positive results from its ongoing diamond drilling programme at the Segilola Gold Mine in Nigeria on Friday, which targeted the down-plunge extensions beneath the current open-pit limits. The AIM-traded firm said the latest drill results highlighted the potential to expand the Segilola resource both along strike to the south and at depth.
Notable results included 1.8 metres grading 39.7 grams of gold per tonne from a depth of 222 metres in drillhole SNMDD027, and 3.4 metres grading 4.8 grams per tonne from 74 metres in drillhole SNMDD028.
The findings built on previous drilling that demonstrated high-grade continuity over about 100 metres along strike and 100 metres down dip.
Thor said the Segilola deposit lay within the gold-rich Ilesha schist belt of Nigeria, on a regional shear zone extending for hundreds of kilometers.
Gold mineralisation was concentrated in steep, west-dipping lodes within metamorphosed meta-sediments, marked by late-stage silica alteration.
The board said the recent drilling programme focussed on the southern lodes, which exhibited a pronounced southerly plunging geometry.
Initial holes were spaced 40 metres apart to test the continuity of high-grade zones projected to continue at depth.
The results confirmed the presence of high-grade mineralisation, with the latest assays reinforcing Segilola's potential for resource growth.
Thor said it was continuing to advance Segilola as a key asset in its West African portfolio, while also progressing the Douta Gold Project in Senegal toward development.
"We are pleased to start the year with additional encouraging drill results of the ongoing diamond drilling programme which is targeting projections of the Segilola ore body outside the current open pit design," said president and chief executive officer Segun Lawson.
"In particular, the significant intersection of 1.8 metres grading 39.7 grams of gold per tonne is encouraging as it potentially suggests the formation of a high-grade shoot in the northern parts of the deposit.
"This intersection is supported by the previously reported intersection of 1.3 metres grading 3.35 grams per tonne located 40 metres to the south in hole SNMDD019."
Lawson said the new intersections were located in the vicinity of several exploration holes that the company drilled in 2018.
"Results from these holes include one metre grading 10.2 grams of gold per tonne and 2.5 metres grading 8.5 grams of gold per tonne.
"Together, these holes demonstrate high grade continuity of approximately 100 metres down dip and about 100 metres along strike.
"Based on the new results we intend to continue drill testing of the Segilola structure, and we look forward to sharing further results in due course."
At 1437 GMT, shares in Thor Explorations were up 2.82% at 18.25p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.