Nigeria Gold Mine Recorded Boosted Output and Exports in February

The company is confident of meeting its first quarter and full year 2022 production guidance.

SEATTLE (Scrap Monster): The Segilola Gold Mine in Nigeria, 100% owned by Thor Explorations Ltd., reported that the operations at the mine continued to perform at budget and above design capacity in the month of February this year. Also, the mine reported no unplanned stoppages during the month.

The gold production from the mine totalled 7,082 ounces during the month. The gold exports too registered steady performance. The overall gold recovery stood at 94%. The Segilola plant processed 74,908 tonnes of ore in February, which clearly indicates that it is currently running well above the design mill throughput. The company is confident of meeting its first quarter and full year 2022 production guidance.

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The company noted that the plant throughput rate witnessed a surge by 13% from 107tph in January 2022 to 121 tph in February. The gravity circuit outperformed its design specification, recording over 60% recovery.

Commenting on the robust production figures, Segun Lawson, President and CEO, Thor Explorations said that this is the third consecutive month that the Segilola Gold Project is reporting month-on-month production surge. It is pleased to have exceeded 7,000 ounces of gold production in the shorter month of February, he added.

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