Thor Explorations Reports Strong Economic Results from Douta Gold Project Pre-Feasibility Study

Thor Explorations Ltd., a West Africa–focused gold exploration and development company, has announced highly positive results from the Pre-Feasibility Study (PFS) for its flagship Douta Gold Project located in eastern Senegal. The study highlights robust economics, strong production potential, and a clear development pathway, reinforcing the Douta Project’s position as one of the most promising emerging gold assets in the region.

Overview of the Douta Gold Project

The Douta Gold Project is situated in eastern Senegal within the highly prospective Birimian Greenstone Belt, a geological formation known for hosting several world-class gold deposits across West Africa. The project is 100% owned by Thor Explorations and has benefited from years of systematic exploration, drilling, and technical studies.

According to the newly released PFS, the Douta Project demonstrates the potential for a long-life open-pit mining operation supported by conventional processing methods. The study confirms that the project could be developed using well-understood technologies, reducing technical risk and enhancing its overall attractiveness.

Key Highlights of the Pre-Feasibility Study

The Pre-Feasibility Study outlines a compelling economic case for the development of the Douta Gold Project. Key findings include strong projected gold production, competitive operating costs, and attractive financial returns under conservative gold price assumptions.

Production and Mine Life

The study envisions an open-pit mining operation with a multi-year mine life, producing gold doré on site. Average annual gold production is expected to place the Douta Project among mid-tier African gold operations, with steady output supporting long-term cash flow generation.

Capital and Operating Costs

Initial capital expenditure for the project is projected to be moderate relative to comparable developments in the region. Operating costs are forecast to remain competitive due to favorable strip ratios, near-surface mineralization, and access to local infrastructure. These factors combine to deliver a low all-in sustaining cost (AISC) profile.

Financial Performance

At the assumed gold price used in the PFS, the Douta Gold Project delivers strong financial metrics, including a robust net present value (NPV), an attractive internal rate of return (IRR), and a relatively short payback period. Sensitivity analyses indicate that the project remains economically resilient across a range of gold price scenarios.

Geology and Mineral Resources

The Douta Gold Project hosts multiple deposits, with the Makosa deposit currently forming the foundation of the mine plan outlined in the PFS. Mineralization is primarily hosted within altered volcanic and sedimentary units and is associated with shear zones typical of Birimian-style gold systems.

Ongoing exploration has demonstrated significant upside potential beyond the current resource base. Several targets within the project area remain underexplored, offering opportunities for future resource expansion and mine life extension.

Mining and Processing Strategy

Open-Pit Mining Approach

The proposed mining method for the Douta Project is conventional open-pit mining, utilizing standard drill-and-blast techniques followed by truck-and-shovel operations. This approach is well suited to the geometry and depth of the identified mineralization and supports efficient ore extraction.

Processing and Recovery

Ore processing is expected to involve a standard gravity and carbon-in-leach (CIL) circuit, a proven method widely used across the global gold mining industry. Metallurgical test work completed to date indicates favorable gold recoveries, further supporting the project’s economic viability.

Infrastructure and Location Advantages

The Douta Gold Project benefits from its location in Senegal, a country recognized as one of West Africa’s most stable and mining-friendly jurisdictions. Senegal has a well-established mining code, supportive government policies, and a track record of successful foreign investment in the natural resources sector.

Infrastructure access is considered favorable, with existing road networks, nearby power solutions, and access to water resources. These advantages are expected to reduce development complexity and capital intensity.

Environmental and Social Considerations

Environmental and social responsibility forms a central pillar of Thor Explorations’ development strategy. The Pre-Feasibility Study incorporates baseline environmental studies and outlines plans for responsible land use, water management, and biodiversity protection.

Community engagement has been ongoing throughout the exploration and study phases. Thor Explorations has emphasized its commitment to working collaboratively with local communities, creating employment opportunities, and supporting regional development initiatives.

Regulatory Framework in Senegal

Senegal’s mining regulatory framework is regarded as transparent and predictable. The country has successfully attracted several international mining companies, and its permitting processes are well defined. The Douta Gold Project is expected to progress through the remaining approval stages in line with national regulations.

Growth Potential and Exploration Upside

Beyond the current mine plan, the Douta Project offers substantial exploration upside. Numerous targets within the broader land package have demonstrated gold anomalies and encouraging drill results. Continued exploration could lead to additional discoveries, enhancing project scale and value.

Thor Explorations has indicated that future work programs will focus on both near-mine exploration and regional targets, aiming to unlock the full potential of the Douta Gold Project.

Strategic Importance for Thor Explorations

The positive Pre-Feasibility Study represents a significant milestone for Thor Explorations. It validates years of exploration and technical work and positions the company for the next stage of project development.

With the Douta Project, Thor Explorations strengthens its portfolio of African gold assets and reinforces its strategy of advancing high-quality projects in stable jurisdictions. The study also enhances the company’s ability to attract financing, strategic partners, or potential acquirers.

Market Context and Gold Outlook

The favorable results of the Douta Gold Project PFS come at a time of sustained interest in gold as a strategic asset. Global economic uncertainty, inflationary pressures, and geopolitical risks have supported long-term demand for gold, benefiting producers and developers alike.

In this context, projects with strong fundamentals, such as Douta, are particularly attractive. The combination of solid economics, jurisdictional stability, and growth potential positions the project well within the global gold development pipeline.

Next Steps Toward Development

Following the completion of the Pre-Feasibility Study, Thor Explorations plans to advance the Douta Gold Project toward a Definitive Feasibility Study (DFS). This next phase will involve further technical optimization, detailed engineering, and continued environmental and social assessments.

Additional drilling and metallurgical testing may also be undertaken to refine the mine plan and improve confidence in production forecasts. Subject to positive outcomes and necessary approvals, the project could move into construction in the coming years.

Conclusion

The announcement of a positive Pre-Feasibility Study for the Douta Gold Project marks a major achievement for Thor Explorations and underscores the project’s strong development potential. With attractive economics, a supportive jurisdiction, and significant exploration upside, Douta stands out as a compelling new gold development opportunity in West Africa.

As Thor Explorations continues to advance the project, the Douta Gold Project is poised to play a meaningful role in Senegal’s growing mining sector while delivering long-term value to shareholders and local stakeholders alike.

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