West African-focused gold producer and explorer, Thor Explorations Ltd., has recorded a breakthrough in its Guitry Gold project situated in Côte d’Ivoire. This was contained in an announcement on the company’s website released on Wednesday.
“Thor Explorations Ltd. (“Thor” or the “Company”) is pleased to announce further positive drilling results from its maiden drilling campaign at its 100% owned Guitry Gold Project (“Guitry”) in Côte d’Ivoire.
“During May and June 2025, Thor completed an initial 3,000 metre (m) reverse circulation (RC) drilling program at Guitry to gain a better understanding of both the geometry and geological controls on gold mineralisation based on a new interpretation of the historic drilling results.” The notice read.
Further to the maiden drill results, announced on 22 July 2025, additional assay results received included the following highlights:
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Drillhole GURC25-232 – 8m at 14.54 grammes per tonne (“g/t”) of gold (“Au”) from 114m
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Drillhole GURC25-234 – 4m at 10.68 g/t Au from 81m
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Drillhole GURC25-212 – 7m at 5.31 g/t Au from 155m
Significance of Breakthrough
Speaking on this breakthrough, Segun Lawson, the company’s President & CEO, stated: “We are extremely pleased to report further positive drilling results from our maiden drilling campaign in Côte d’Ivoire. Our drilling has continued to successfully intersect high grades of gold mineralisation at Guitry that are often hosted within broader zones of lower grade mineralisation. These results remain open at depth, and they build upon the initial positive results, which showed the licence has tremendous potential.
“The additional results reported this quarter, following the first results, bode well to continue the next phase of drilling and work towards our target of making a maiden resource in Côte d’Ivoire before the end of the year.
“We are highly encouraged by the first quarter of results from Côte d’Ivoire, which demonstrate that over 30% of West Africa’s greenstone belts and is going to be an emerging region for world-class discoveries. The combination of this significant geological endowment, existing infrastructure, and supportive government provides an excellent foundation to build on. The Guitry Project has been highly encouraging this drilling season, and we are very excited about the future.”
Thor Explorations
Thor Explorations Ltd. is a West African-focused gold producer and explorer listed on the Toronto Venture Exchange (TSXV:THX) and the AIM Market in London (AIM:THX). The company operates Nigeria’s first large-scale commercial gold mine and holds exploration projects in Senegal and Côte d’Ivoire.
it operates a diverse portfolio of assets across Nigeria, Senegal, and Côte d’Ivoire. In Nigeria, the company’s flagship operation is the Segilola Gold Project in Osun State, which is also the country’s first commercial gold mine.
Production began in the fourth quarter of 2021, and in 2024 the mine delivered over 85,000 ounces of gold. Ongoing near-mine exploration drilling has returned positive results, indicating mineralization below the existing pit and the potential to extend the mine’s life. Thor has also expanded into lithium exploration in Nigeria, assembling a strategic low-cost land package to diversify its resource base.
In Senegal, Thor holds a 70% economic interest in the Douta Gold Project, an advanced exploration asset with a defined gold resource of 1.78 million ounces. A Preliminary Feasibility Study (PFS) is expected in early 2025, positioning the project as a key growth driver for the company.
In Côte d’Ivoire, Thor owns a 100% interest in the Guitry Gold Project, where early drilling has confirmed high-grade gold intercepts and a maiden resource estimate is targeted for completion by the end of 2025. The company also holds options to earn interests in the Marahui and Boundiali exploration licences, adding further depth to its regional pipeline of opportunities.
The Guitry Project was acquired by Thor from Endeavour Mining Corporation (“Endeavour”) in 2025 for a total consideration of US$100,000 in cash and a 2% Net Smelter Royalty. The Project is located 220 kilometres (km”) due west of Abidjan and covers 295 square kilometres.
