Mining

Thor Explorations Boosts Senegal's Gold Prospects with Douta Project Drilling Results

Thor Explorations Boosts Senegal's Gold Prospects with Douta Project Drilling Results
Friday, 06 September 2024 20:02

The Douta project, owned 70% by Canada’s Thor Explorations, is a key asset for Senegal's long-term gold production plans. The project contains 1.78 million ounces (over 50 tonnes) of gold, and the company is working to increase this estimate.

This year, Thor Explorations identified several high-grade gold deposits at the Makosa East prospect within the Douta project. In a press release dated September 4, the company stated that these drilling results are part of its strategy to boost the mineral resources of the project.

The reverse circulation drilling program found gold grades ranging from 1.20 g/t to 1.90 g/t at depths of less than 50 meters, making it suitable for open-pit mining if a gold mine is developed at Douta.

"In line with our strategy, these results should add additional oxide material to the resource inventory, from which we aim to design the initial phase of a potential future mining operation," said Segun Lawson, CEO of Thor Explorations.

Once the results are fully analyzed, the company plans to release an updated mineral resource estimate by the end of the year. This update will help finalize a pre-feasibility study, which will detail Douta's production capacity and the investment needed to realize its potential.

Developing a mine at Douta would significantly enhance Senegal's gold production, which currently relies on two industrial mines: Sabodala-Massawa and Mako. In 2022, Senegal produced 15 tonnes of gold, generating CFA540 billion ($912 million) in export revenues.

Emiliano Tossou

On the same topic
Liberia granted TotalEnergies rights to explore four offshore blocks totaling 12,700 km². The French group will run a program including 3D seismic...
Empower New Energy got approval to develop a 4 MW solar plant in Awasi, Kenya. The $2.5 mln deal with Abyssinia Group will supply clean power...
• Kenya, Shandong Linglong sign $800M tire factory deal• Plant in Mariakani to create 1,500+ jobs, boost industry• Part of Kenya’s push to raise FDI...
• South Africa court voids Eskom’s 3,000 MW gas plant permit• Ruling cites inadequate public consultation, forcing new application• Decision highlights...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...

Malawi’s Election Puts Incumbent Chakwera to the Test on Inflation and Fuel Shortages
05

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.