Thor Explorations Ltd.
TSX VENTURE : THX

Thor Explorations Ltd.

August 22, 2012 08:00 ET

Exploration Update from Douta Project, Senegal: Thor Announces Full Results of RAB Drilling Campaign and Initiation of Diamond Drilling on the Makosa Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Thor Explorations Ltd. (TSX VENTURE:THX) ("Thor") is pleased to announce that continuous bedrock mineralisation has been confirmed on the Makosa Prospect in the Douta Project which represents a 2.6km portion of a prospective 13km strike length, with mineralisation open both to the northeast and the southwest of the tested RAB drilling fences.

Full results of the 7,900m rotary air blast ("RAB") drilling campaign completed in late March 2012; have now been received. The key findings from this work include;

  • Gold mineralisation observed on each of the 14 drillhole fences tested
  • Multiple mineralisation zones noted on the widest fence tested
  • Near surface mineralisation observed (oxide zone)
  • Bedrock mineralisation open to both the north and the south along strike

In addition to the confirmation of this bedrock mineralisation, as indicated by the presence of anomalous gold values (>0.5 g/t Au), Thor is also pleased to announce the following highlights from the RAB programme;

Hole ID From-To Interval and Au grade Notes
MKRB1024 6-26m 20m @ 1.68 g/t Previously reported
Including 6-16m 10m @ 2.75 g/t Previously reported
MKRB1043 22-51m 29m @ 1.00 g/t Previously reported
MKRB1047 4-19m 15m @ 1.61 g/t Previously reported
Including 4-13m 9m @ 2.17 g/t Previously reported
MKRB1074 13-22m 9m @ 1.76 g/t New data
MKRB1088 19-43m 24m @ 0.89 g/t New data
MKRB1096 15-29m 14m @ 1.85 g/t New data
MKRB1106 21-34m 13m @ 1.59 g/t New data
Table 1: Highlights of results of the 7,900m RAB programme.

Note that intervals reported may not represent the true geological width of the mineralised body. Refer to Appendix 1 for a full table of all holes with intercepts over 0.5g/t Au available at the following link: http://media3.marketwire.com/docs/thx822i.pdf.

The full RAB data have been used to define a mineralisation envelope which covers the full extent of the Makosa prospect and is included in the appendices of this News Release.

Thor is also pleased to announce the start of its scout core drilling programme, focussed on testing the best targets generated from the RAB campaign. This will enable the determination of grades and intervals with greater confidence than can be achieved through RAB drilling and will provide assay results which can be used to support resource estimation. The RAB results reported here will be used to define the location and extent of mineralised zones.

Segun Lawson, CEO of Thor Explorations commented:

"The full RAB results have increased our confidence in the continuity of bedrock mineralisation at Makosa with mineralisation found on each of the 200m spaced drilling fences. Furthermore, the mineralisation is open both to the northeast and the southwest of the Makosa Prospect, which is one of several targets identified by soil geochemistry. We have started diamond drilling our priority targets to understand the grade and interval potential with better confidence and to further our knowledge of the geological model. We look forward to an exciting next few months with the upcoming diamond drill results."

RAB Drilling programme details

The RAB programme was completed in late March and consisted of 184 holes for a total drilled length of 7,880m. These RAB holes targeted a number of features including the extension of identified mineralisation from the 2011 trenching campaign, the extension along strike of artisanal workings, and geological and geophysical targets. 14 drill hole fences were tested, covering 2.6km of strike.

The RAB fences were spaced at approximately 200m intervals. The programme was focussed on understanding mineralisation within the oxide zone, with holes ending in the fresh or transitional units.

The maps (figure 1 and 2 - See reference: http://www.thorexpl.com/i/maps/Douta_map1.jpg and http://www.thorexpl.com/i/maps/Douta_map2.jpg) describe the highlights of the RAB drilling programme noted in Table 1 above, and demonstrate the continuation of mineralisation across the body.

Exploration Model

Thor is exploring for typical shear zone hosted mesothermal gold deposits in the Douta Permit. Such gold deposits can be found within the Birimian geological units of West Africa, and include the vast majority of gold discoveries in Ghana, Burkina Faso, Mali and Senegal.

The geology of the Douta Permit has been found to be dominated by metasediments, which extend throughout the strike length of the permit. These units have been subjected to significant tectonic activity, including the development of a significant shear zone named the Main Transcurrent Shear Zone (MTZ) which runs through the permit. Numerous second order structures have been found within the permit which are related to the MTZ. Thor considers that the combination of these geological features present significant scope for mineralisation within the Permit.

Sample preparation and analysis

Samples are composed of 2.0 - 2.5kg of material typically composited from 2 or 3 metre drilling intervals, sampled using the spear method. Samples were dispatched to the ALS laboratory in Bamako, Mali in batches of 500 samples. Samples were prepared in the lab by fine crushing to approximately 85% passing 2mm, after which a split of 250 grams was pulverised to 85% passing 75 microns. A charge of 50g was then used for fire assay analysis with an Atomic Absorption Spectrometry (AAS) finish. Results are reported with a lower detection limit of 0.01 g/t Au.

Quality Assurance/Quality control (QAQC) procedures

Quality control samples consisting of two Certified Reference Materials (CRMs), coarse blanks and sample duplicates were used to monitor sampling and analytical quality, for an overall insertion rate of approximately 17% control samples. Sample Duplicates were taken by spear sampling twice the target weight of the typical sample, and then riffle splitting this material to form both the 'Normal' and 'Sample Duplicate'. Sample Duplicates were inserted randomly at a rate of approximately 1 in 15. Two CRMs, one high grade and one low grade, were added to the batches at a combined rate of 1 in 20, also inserted randomly. Coarse Blanks consisting of material obtained from outcrops of a local barren granite were inserted at a rate of approximately 1 in 25.

The QAQC results for the reported batches are considered acceptable. Sample Duplicates report acceptable repeatability when compared with their corresponding Normal Sample. The majority of CRMs report within the accepted upper and lower thresholds, with overall biases of less than ±5% relative. Only a single blank reported gold values greater than the detection limit. These results provide assurance that the results obtained provided a reliable basis for delineating the mineralised trends and planning further follow-up drilling.

Qualified Person

The technical information contained in this press release has been reviewed by Dr. Edmund Sides, PGeo and EurGeol, who is a qualified person for the purpose of National Instrument 43-101 and an employee of AMEC who have been engaged by Thor Explorations Ltd. to provide advice on evaluation data collection and resource estimation. Edmund Sides visited the Douta project from 25th to 27th January 2012 prior to the commencement of the RAB drilling programme. During his site visit he inspected some of the 2011 trenches and artisanal workings on the Makosa target and provided advice on the sampling and QA/QC procedures being used by Thor.

Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Senegal and Burkina Faso. Thor holds a 70% interest in the Douta Gold Project located in southeastern Senegal. The Douta Gold Project lies within the Kéniéba Inlier which hosts in excess of 40Moz of gold and has attracted major international mining companies.

Please note that the data included in this press release is conceptual in nature and that there is insufficient exploration data available to define a mineral resource. Further exploration is planned. It is too early to say if the program will result in the target being able to be defined as a mineral resource.

In regards to the information provided within Figure 1 of this release concerning adjacent properties, please note that the Qualified Person has been unable to verify the information regarding resources within these adjacent properties. Please also note that information is not necessarily indicative of mineralisation within the Douta Permit, which is the subject of this news release.

Further information on Thor Explorations Ltd can be accessed on the Thor website at http://www.thorexpl.com.

THOR EXPLORATIONS LTD.

Segun Lawson, President & CEO

This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to those with respect to the expected time period for the free carry interest, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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