Thor Explorations Ltd has intersected high-grade gold mineralisation during an ongoing diamond drilling program beneath the open pit at its Segilola Gold Mine. Recent drill results show multiple intercepts, including 1.2 metres at 11.31 grams per tonne (g/t) gold from 288 metres, 2 metres at 9.27 g/t gold from 420 metres, and 3.4 metres at 7.58 g/t gold from 289 metres.

The company is currently reviewing options for a potential underground mining transition or further open pit extension at Segilola. These activities are supported by a high-level review from an engaged mining consultancy, with management aiming to define an updated resource for the project by the end of 2026. Thor is also working toward a final investment decision for its Douta Gold Project in Senegal during the third quarter of 2026.

Shares in Thor are currently trading at $1.06, up 4.95% on August 6, 2026, following the release of the drill results.

“We are extremely pleased to report these drill results which demonstrate the continuation of high-grade mineralisation beneath the Segilola pit and continue to contribute new ounces to Segilola' s gold inventory well below the current pit design. We are also encouraged that our drilling continues to delineate a high grade steeply dipping shoot in a previously untested area which currently extends to 400m beneath the pit and remains open.”

“Our drilling has intersected multiple strong intercepts which include grades between 5 and 11 g/t gold at mineable widths, encountered hundreds of metres below the surface of the final open pit. This provides a strong platform for continued resource growth and potential mine-life extension, enhancing the long-term value of Segilola.”

— Segun Lawson, President & CEO

Read the full announcement: Thor Explorations Announces Further High-Grade Mineralisation Intersected Below Segilola Open Pit