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Nigeria
Segilola Project

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 Location:
31,5 km E from Ife, Nigeria

  Project Contacts:
250-1075 Georgia St W
Vancouver
British Columbia, Canada
V6E 3C9
Phone  ...  Subscription required
Fax(604)-434-1487
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Processing
  • Gravity separation
  • Agitated tank (VAT) leaching
  • Inline Leach Reactor (ILR)
  • Carbon in pulp (CIP)
  • Elution
  • Carbon adsorption-desorption-recovery (ADR)
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)
Mine Life5.5 years (as of Jan 1, 2019)
Latest NewsThor Announces Remaining In Pit Drill Results at Segilola, Nigeria and Exercise of Options     December 10, 2020


Owners

Source: p. 2
CompanyInterestOwnership
Thor Explorations Inc. 100 % Indirect
Segilola Resources Operating Ltd. 100 % Direct
The Segilola Project is 100% owned by Segilola Resources Operating Limited (“SROL”), which is a 100% owned subsidiary of Thor Explorations Inc..

Deposit Type

  • Vein / narrow vein
  • Orogenic


Summary:

Segilola is an orogenic-style lode gold deposit which occurs within a regional-scale shear zone.

Host rocks comprise an overturned sequence of high-grade amphibolite-facies metasediments intruded by a large, possibly differentiated, granodiorite sill-like body. The mineralisation is developed within a series of steeply dipping, tabular, very continuous, latestage quartz-pegmatite veins that do no exhibit any form of significant deformation such as folding or faulting. The geological and mineralogical characteristics of the mineralised veins are consistent throughout both the strike and down dipextents of the known resource.

Drilling results demonstrate that gold mineralisation occurs in fractured pale to dark grey coloured smoky quartz veining, sheared pegmatite, and silica/chlorite/carbonate alteration. The mineralisation is hosted in three steeply dipping vein sets or lodes; the Hanging Wall Lodes (Lodes 100 and 300) and the Footwall Lode (Lode 200). Together these form an elongate mineralised zone striking 010º and dipping 60º to 70º towards the west within a single shear zone, primarily in biotite gneiss. The currently drilled mineralised zone is approximately 2,000 m in strike length, between 70 m and 200 m in depth, and between 2 m and 20 m in true thickness.

The mineralogy of the Segilola deposit is characterised by its general simplicity and consistency. The gold is entirely non-refractory and commonly occurs as visible particles within either pegmatitic quartz-feldspar veins or foliated biotitic selvedges to the veins. There are no significant trace element associations such as silver with gold. However, metallurgical assaying indicates slightly elevated copper (250 ppm to 300 ppm) and mineralogical studies suggest a gold-tellurium association.

Two styles of gold mineralisation are observed:

• Narrow, 1 m to 3 m thick Hanging Wall Lodes within silicified biotite schists (DGS). These lodes locally contain 5 µm to 20 µm grains of visible gold and are developed in the hanging wall to the main (footwall) lode. These lodes appear to have different controls to the footwall lode and have a more vertical continuity over shorter strikelengths.

• Wide, up to 15 m, ‘footwall’ mineralisation within a characteristically grey-green, strongly silicified zone of biotite schists and gneisses (SZQ1).

The mineralised lodes generally comprise highly silicified fine-grained, foliated biotite gneiss typically intruded by both discordant and concordant pegmatitic quartz-feldspar veins.

Shearing, fracturing, and alteration influence the location of gold mineralisation. This relationship has generated multiple zones of gold mineralisation hosted by shears now represented by chlorite and calcite alteration, together with quartz veining and pyrite development.

Minor sulphides, typically pyrite, are associated with the lodes. Macroscopic observations show that sulphide grains and blebs are often aligned with foliation, commonly following either biotite-rich laminae or near pegmatite boundaries. There is also, however, a common generation of pyrite occurring along fractures or as quartz-pyrite tension gashes, highly discordant to the foliation. A cursory examination suggests most of these do not contain pyrrhotite. These either relate to a late episode of mineralisation, or to remobilisation of sulphides.

Native gold is visible in both altered wall rock and in quartz-feldspar veins. It occurs with petzite (a silver gold telluride), within pyrite, and quartz veins. The typical size of native gold blebs is approximately 10 µm. Gold, either as native grains, flakes and blebs occurs together with gold-on-pyrite in alteration zones, along tension gashes, hair-like fractures, joints, and minor faults.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Segilola Gold Project will be operated primarily as a contract mining operation with all mobile equipment to be provided, operated, and maintained by a mining contractor(s) over the life of the Project. Conventional open pit mining methods using excavator and truck fleets will be used. Thor will provide fixed installations including contractor area establishment, workshops, offices, and first aid facilities.

There are four well defined weathering horizons present, allowing the material to be mined according to classification as residual soil, oxide rock, transitional rock, and fresh rock. The vast majority of material is fresh rock.

Drilling rigs operated by the contractor will be Epiroc T45/50 class top-hammer drills with the capability to drill holes from 89 mm to 140 mm in diameter. Ore blasting will be done on five metre benches, while waste blasting will be conducted on 10 m benches where possible. A set of blast patterns ranging in powder factor from 0.43 kg/m3 to 1.07 kg/m3 will be applied depending on the material type.

Narrow ore zones will require the implementation of careful blasting techniques to minimise dilution and maximise ore recovery, namely the use of “Blastmaster” bench planning to optimise blast shapes/geometry and sequencing, choke firing where possible to minimise ore movement, blast initiation timing to control movement, the use of blast movement indicators, and a refinement of blast design parameters based on results obtained.

Blasting will be done with pumped emulsion as water is expected in the blast holes.

The mining contractor will use 200 t hydraulic excavators (12.5 m3 bucket capacity) and 90 t payload rear dump trucks. Excavators will be in backhoe configuration to allow flexibility for mining both ore and waste.

Waste mining will be performed using a double-bench method, where possible, in order to reduce ancillary equipment costs, taking a full 10 m cut with each pass. Ore mining will be on two 2.5 m flitches to reduce the chance of dilution whilst still providing a sufficient bench height for the required production rates.

Grade control drilling and mining of the ore will only take place during dayshifts so that the Thor technical department can guide excavations to minimize ore dilution and loss.

The production equipment will be supported by ancillary equipment such as dozers and graders to achieve level graded floors, smooth out blast heave, and provide face cleanups. Water carts will be employed for dust suppression, using water sourced from pit dewatering and other storage dams when necessary.

A total of 75% of the Run of Mine (ROM) is planned to be re-handled due to the substantial stockpiling planned. This will be done using a front-end loader (FEL), such as a Caterpillar 988, with 6.4 m3 bucket capacity. The ROM pad and stockpile area will be located adjacent to the processing plant at the southern end of the west waste dump. All waste rock from the pre-strip period and initial months of mining will be used to create the flat area for the ROM pad and ore stockpiles. The front-end loader may need to be supplemented by a truck from the mining fleet when ROM pad hauls exceed 200 m.

Open pit dewatering requirements have been assessed based on limited groundwater information. The assessment has estimated the inflow into the open pit from groundwater sources could range from 60 m3/day to 600 m3/day. The contractor costed the provision of 3 Sykes HH160i pumps, which can each provide 350 m3/h capacity with a head of 100 m).

Sub-horizontal drains will be used to promote passive drainage of the pit walls, typically installed from benches in the pit walls, with a horizontal spacing of 10 m to 30 m between drains. Drilled diameters will be 75 mm to 100 mm, with a 50 mm diameter high-density polyethylene (HDPE) of unplasticised polyvinyl chloride (uPVC) slotted screen installed.


Crushing and Grinding


Processing

  • Gravity separation
  • Agitated tank (VAT) leaching
  • Inline Leach Reactor (ILR)
  • Carbon in pulp (CIP)
  • Elution
  • Carbon adsorption-desorption-recovery (ADR)
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Flow Sheet: Subscription required

Summary:

The plant is designed to operate 365 day/year, 24 hours/day, with a design utilization of 91.3%, for a nominal ore throughput of 81.3 tph and design ore throughput of 84.5 tph. Production throughput utilises 86.6% of design utilization, resulting in an average LOM annual production of 625,000 tpa.

The process plant was initially designed for a ROM throughput of 500,000 tpa. During the DFS study, to better align with the mine design and optimise project economics, the process plant throughput capacity was increased to 650,000 tpa. This increase in size of the processing facility also allows for operating flexibility and future expansion capacity.

The ROM pad will be located at the south east corner of the plant site. ROM with a nominal top size of 600 mm will be delivered by haul trucks from the open pit mining operation and will either be dumped directly into the ROM bin, or stockpiled on the ROM pad. If oversize rocks bridge the static grizzly, a mobile rock ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, %  ......  Subscription required
Gold Head Grade, g/t 4.2
Subscription required - Subscription is required.

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 66393
All production numbers are expressed as payable metal.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing rate  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

Reserves at February 4, 2019:

CategoryOreTypeTonnage CommodityGradeContained Metal
Probable In-Situ (OP) 3 Mt Gold 4.2 g/t 405 koz
Indicated In-Situ (UG) 0.1 Mt Gold 9.4 g/t 28 koz
Indicated In-Situ (OP) 3.03 Mt Gold 4.5 g/t 441 koz
Indicated Total 3.12 Mt Gold 4.67 g/t 469 koz
Inferred In-Situ (UG) 0.35 Mt Gold 7.9 g/t 90 koz
Inferred In-Situ (OP) 0.33 Mt Gold 6.8 g/t 73 koz
Inferred Total 0.68 Mt Gold 7.4 g/t 162 koz

Commodity Production Costs:

CommodityUnitsAverage
Site cash costs (produced) Gold USD  ......  Subscription required *
Cash costs Gold USD  ......  Subscription required *
Total cash costs Gold USD  ......  Subscription required *
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *
Assumed price Gold USD  ......  Subscription required *
* According to 2019 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2019
OP mining costs ($/t mined) USD 2.85 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 55.8
G&A costs $M USD 17.3
Total OpEx $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin, %  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of March 18, 2019:
HME TypeModelSizeQuantity
Backhoe & Rock Breaker ....................... Subscription required 1
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 5
....................... Subscription required ....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 4
....................... Subscription required ....................... Subscription required ....................... Subscription required 11
....................... Subscription required 1
Subscription required - Subscription is required.

Mine Management:

Job TitleNameRef. Date
....................... Subscription required ....................... Subscription required Dec 6, 2019
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Press Release 2017
Technical Report 2016
Subscription required - Subscription is required.

News:

NewsDate
Thor Announces Remaining In Pit Drill Results at Segilola, Nigeria and Exercise of Options December 10, 2020
Thor Announces Encouraging Initial In-Pit Infill Drill Results at Segilola, Nigeria October 13, 2020
Thor Announces Construction Update at Segilola Gold Mine August 10, 2020
Thor Announces Strong Initial Segilola Infill Drilling Results and Segilola Exploration Plan for Q3 2020 July 22, 2020
Thor Explorations Closes Final Tranche of Private Placement Raising Additional C$1.05M July 13, 2020
Thor Explorations Closes First Tranche Private Placement Raising $12.5m (us$9.2m) July 10, 2020
Thor Announces US$10 Million Brokered Private Placement Financing June 12, 2020
Thor Explorations Announces Closing of Private Placement, Repayment of Debt, Senior Credit Facility and Full Funding of the Segilola Gold Project April 29, 2020
Thor Explorations Announces Full Funding and Commencement of Construction of the Segilola Gold Project, Nigeria April 15, 2020
Thor Explorations Announces Closing of First Tranche of Its Private Placement for Proceeds of $15.8 Million December 5, 2019
Thor Announces Extension of US$15M Private Share Placement November 4, 2019
Thor Explorations Announces TSX Venture Exchange Conditional Approval of 1st Tranche of Proposed US$15M AFC Private Placement... October 4, 2019
Thor Announces Terms of New Proposed Private Share Placement and Expiry of Previously Announced Private Share Placement August 19, 2019
Thor Announces Extension of US$15m Private Share Placement June 17, 2019
Thor Announces Signing of EPC Contract Financing Update for the Construction and Financing of the Segilola Gold Project June 4, 2019
Thor Explorations Ltd. Announces Private Placement of Up to US$15 million April 30, 2019
Thor Explorations Ltd. Files NI 43-101 Technical Report for Previously Announced Definitive Feasibility Study for the Segilola Gold Project March 21, 2019
Thor Explorations Completes Robust DFS for the Segilola Open Pit Gold Project and Positive PEA for the Supplementary Segilola Underground Gold Project February 4, 2019
Excellent Preliminary Metallurgical Test Work Results for Thor’s Segilola Gold Project May 18, 2018

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