Thor Explorations to acquire Guitry gold project
Thor Explorations has announced plans to acquire the Guitry gold project in Cote d’Ivoire. The firm has agreed to acquire a 100% interest which involves a $100,000 cash payment and a 2% net smelter royalty on the project. The deal is contingent upon the fulfillment of certain conditions, including final approval from the Minister of Mines.
The Guitry Project, located 220km west of Abidjan, spans 295km² of the Tehini Greenstone Belt, an area known for its gold potential. Endeavour Mining previously conducted early-stage exploration, including extensive soil sampling and over 11,000 meters of drilling. The two main prospects, Krakouadiokro and Gbaloukro, show promising signs of gold mineralization, with Krakouadiokro displaying open mineralization along strike and down dip.
Thor Explorations
Thor Explorations is targeting a maiden resource estimate of 500,000 to 1,000,000 ounces of gold by the end of the next year. CEO Segun Lawson highlighted the project’s potential, noting that several additional targets are yet to be drilled.
In addition, Thor Explorations has signed an option agreement with Goldridge Resources to earn up to an 80% interest in the Boundiali Exploration Permit in northwest Côte d’Ivoire. This early-stage permit features soil geochemical anomalies that are ready for drilling. Thor will undertake a minimum exploration program over 36 months, with an option fee of $150,000 to earn an initial 51% interest within the first two years. Thor has been actively expanding its exploration footprint in West Africa, including acquiring interests in two licenses in Senegal in April 2024.
