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Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week

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Thor Exploration’s Segilola gold deposit in Nigeria. Image credit: Thor Exploration

Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week 

Thor Exploration’s Segilola gold project in the Osun State of Nigeria is well positioned for an increase in gold production in the second quarter (Q2) and the third quarter (Q3) of 2023 as the mine head grade is expected to improve over the next three to six months.

Segilola produced 20,629 ounces (oz) of gold during the first quarter (Q1) of 2023 at an average grade of 2.95 grammes per tonne (g/t) of gold (Au).

Thor has also identified a new high grade quartz vein system within 15km of Segilola. The system consists of multiple high grade drillhole intercepts including 1m at 310 g/t Au which equates to 10 ounces of gold per tonne.

According to Segun Lawson, President and CEO of Thor, the company will resume its drilling programme at Segilola to increase resources for potential future transition to underground operation and mine life extension.

Evaluating future Nigerian opportunities (Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week)  

Thor has applied for and acquired several prospective exploration properties in Nigeria and the company continues to invest in its exploration programs within Nigeria.

“Exploration is continuing on a number of greenfield opportunities in Nigeria which are delivering encouraging results as highlighted by our recent ten ounce per ton drillhole intersection near Segilola.

“We have also continued to evaluate potential opportunities to leverage our technical capabilities and first mover advantage in Nigeria,” says Lawson.

Solid performance in Q1 (Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week)  

The company reported another quarter of solid production at Segilola and the planned west wall push-back is progressing which will positioned the mine for an increase in gold production following its completion late in Q2 2023 as the mine head grade improves over the next 3-6 months.

In Q1 2023, mined and processed ore were 198,425 tonnes and 231,001 tonnes respectively. The average mine head grade was 2.85 g/t and processed grade 2.95 g/t, blended from mining and existing stockpile.

Gold production during the Quarter was approximately 5% lower than planned due to lower production drilling rates because of more challenging ground conditions (large boulders) at the upper levels of the western push-back.

Lawson says that about 25% of total material mined and 31% of mined ore during the quarter was from lower grade areas which were originally planned to be mined later in the year.

“Mining of this area has now been mostly completed and the deficit is expected to be recovered later in the year as operations re-align with the 2023 mine plan,” says Lawson.

At the end of the Quarter, an additional two production drilling rigs and 14 new haul trucks were imported by the mining contractor in order to prepare for the planned step-up in production over the next 12 months.

The drilling rigs have been commissioned and are now in operation and the haul trucks have been released from Lagos port and are en-route to site.

Processing impacted by lower grade (Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week

Process plant operations were impacted by the lower than planned mine head grade. Recoveries are generally correlated to mill feed grade and consequently, recovery reduced to 94.1% for the Quarter.

The process plant throughput continued to be well above design during the Quarter.

A modification of the Carbon in Pulp (CIP) circuit to Carbon in Leach (CIL) is currently being implemented in order to increase the residence time for carbon adsorption and the existing agitators are to be replaced with a larger model in order to improve circulation in the tanks.

These enhancements are due to be completed in Q4 2023 and are aimed at further improving process plant recoveries.

Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week

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Thor’s Segilola in Nigeria is WhyAfrica’s Pick Of The Week


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