• Thor Explorations plans to publish an optimized prefeasibility study incorporating new exploration results.
• The company targets a final investment decision in the second half of 2026 and production by 2028.
• The current plan outlines annual output of 82,000 ounces over 12.6 years with a $254 million investment.

Thor Explorations is accelerating development of its Douta gold project in Senegal as it advances toward a final investment decision, following the release of a prefeasibility study earlier this year.

The company announced on April 15 that it plans to publish an optimized version of the prefeasibility study (PFS). It aims to incorporate recent exploration successes and strengthen the project’s technical parameters ahead of a final investment decision expected by the end of 2026.

Since publishing the initial PFS in January, Thor Explorations has conducted infill drilling across several deposits to improve resource confidence. The company expects this work to deliver an updated mineral resource estimate, which will underpin the revised PFS scheduled for release in the coming months.

“Following the completion of the preliminary feasibility study for Douta during the quarter, we significantly intensified our exploration activities in Senegal. We aim to optimize this study where we have identified high-growth potential zones […]. We plan to publish the results of our drilling programs in Senegal in the second quarter of 2026 and aim to make our final investment decision for this project in the second half of 2026,” said Segun Lawson.

The current prefeasibility study outlines Douta as a mine capable of producing an average of 82,000 ounces of gold per year over a 12.6-year mine life. The plan requires an estimated capital investment of $254 million.

The ongoing optimization process could improve key project parameters before validation through a definitive feasibility study (DFS), which represents a more advanced stage preceding the final investment decision.

However, Thor Explorations still needs to secure key milestones, including obtaining required permits and arranging project financing. At this stage, the company targets first production in 2028.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange J.A de Berry Quenum