Under the 2015 joint venture agreement, Acacia can earn up to an 80% interest in the project by funding all costs up to and including completion of a pre-feasibility study.
The Central Houndé project consists of three early-stage exploration permits covering 474 km2 over the highly prospective Houndé greenstone belt, approximately 260 km southwest of Ouagadougou. To date, 20,208 metres of RC and 3,156 metres of diamond drilling have been completed over the licences.
“We are pleased to have regained a 100% interest in the Central Houndé project, which lies in one of West Africa’s highly regarded Birimian greenstone belts. In recent years, the JV has undertaken diligent exploration programs, which have resulted in the identification of several targets that have been outlined by preliminary drilling, which we consider merit further assessment,” Thor president and CEO Segun Lawson commented in a news release.
Meanwhile, Thor’s development activities remain focused on the Segilola gold project in Nigeria, where construction is well advanced and on track for first gold pour in June 2021.
At its advanced exploration project, Douta in Senegal, following the success of recent drilling programs at Douta North and Douta Tail, the company has initiated a supplementary drilling program to assess the potential extension of the identified additional mineralization.