First gold poured at Segilola Gold Mine in Nigeria

First gold has been poured at the Segilola Gold Mine in Nigeria. Thor Explorations performed the act and said the process plant ramp up will continue over the next six weeks with commercial production targeted for September 2021.

Segilola is Nigeria’s first large-scale gold mine and it is hoped that it will lay the foundation for attracting more mining investment in the country. At commercial production, the plant will run at a processing rate of 715 000 tpa, targeting c.85 000 ozpa.

“The first gold pour at Segilola, our first mine and the first commercial gold mine in Nigeria, is a significant achievement for the company. This mine has been built in line with the budget and largely on schedule through a global pandemic. The Segilola mine is a high-grade, open pit mine that has a projected life of mine All In Sustaining Cost of US $685 per ounce providing strong cash flows over the life of mine,” said Segun Lawson, president and CEO.

Drilling campaign

The Segilola Gold Project which comprises a proposed open pit gold mining project based on a probable reserve of 518,000 ounces of gold grading at 4.02 grams per ton. Segilola Project Definitive Feasibility Study was completed in February 2019 and considered an open pit mine, and the construction of a new 625,000tpa processing plant, consisting of a conventional crushing circuit, two stage grinding, gravity, carbon-in-leach, elution, electrowinning and smelting to produce gold ore.

The most recent drilling campaign focused on converting in-pit inferred to indicated. Previous drilling beneath the base of the proposed open pit identified several steep shoot-structures which have been interpreted within the hanging wall lodes


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