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TORO ENERGY LIMITED - Corporate Spotlight

Toro Energy Limited is an ASX listed uranium development and exploration company with... Toro Energy Limited is an ASX listed uranium development and exploration company with projects in Western Australia. Toro’s tenure in Western Australia is also prospective for gold and base metals.More

Corporate Spotlight

Toro Energy Limited is an ASX listed uranium development and exploration company with projects in Western Australia. Toro’s tenure in Western Australia is also prospective for gold and base metals.
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Toro Energy extends EM survey to Golden Ways - TMH

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Toro Energy extends EM survey to Golden Ways - The Market Herald - June 2020


TORO ENERGY PLANS EM SURVEYS AT YANDAL

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10th June 2020 - The Market Herald


  • Planning for ground-based electromagnetic geophysical surveys is underway at Toro Energy's (TOE) Yandal Gold Project in WA
  • These surveys will be conducted over two nickel sulphide prospects and will aim to detect conductive bodies, such as massive nickel sulphides, at depth
  • One survey will be carried out at the Dusty prospect, while the other will focus on part of the Yandal One Nickel Prospect, which was previously drilled in 2016
  • More details will be announced when planning is finished and the surveys begin
  • Toro is up a steady 12.5 per cent on the market in mid-morning trade and shares are selling for 0.9 cents each

Planning for ground-based electromagnetic geophysical surveys is underway at Toro Energy's (TOE) Yandal Gold Project in WA.

These surveys will be conducted over two nickel sulphide prospects and will aim to detect conductive bodies, such as massive nickel sulphides, at depth. 


One survey will be carried out over the new nickel sulphide discovery that was announced yesterday at the Dusty prospect, while the other will focus on part of the Yandal One Nickel Prospect, which was previously drilled in 2016. 

More details will be announced when planning is finished and the surveys begin. 


"After the significant confirmation of the discovery of nickel sulphides at Dusty, the board is very pleased to also announce that preparations for ground-based electromagnetic geophysical surveys have commenced," Executive Chairman Richard Homsany commented. 


"Gold and nickel evaluation activities and drilling are expected to commence very soon at Yandal. The acquisition of geophysical data will assist us to ensure targeted and cost-effective drilling is continued in this next campaign," he said. 


"In addition to the outstanding Dusty nickel discovery, the prospectivity of the Yandal One Nickel Prospect remains a valuable part of the Yandal Project. Therefore, a ground-based electromagnetic survey is being planned over it," Richard added. 


Toro is up a steady 12.5 per cent on the market in mid-morning trade and shares are selling for 0.9 cents each at 10:34 am AEST. 


DRILL PROGRAM BEGINS AT YANDAL GOLD

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15th June 2020 - The Market Herald


  • Toro Energy (TOE) has begun its 2020 gold and nickel exploration drilling program at its Yandal Gold Project in WA 
  • This phase of drilling will consist of up to five holes for 1000 metres 
  • Two holes will be drilled at the November Rain Target Area to collect information regarding the nature and orientation of the geology in the area
  • Another two holes will be drilled at the Dusty Nickel-Gold Prospect, where nickel sulphides were recently discovered 
  • If needed, a fifth hole may be drilled at the project to explore for nickel mineralisation at depth
  • Toro shares have jumped 12.5 per cent and are currently trading for 0.9 cents each

Toro Energy (TOE) has begun its 2020 gold and nickel exploration drilling program at its Yandal Gold Project. 

The Yandal Gold Project is located within the world-class gold district, the Yandal Greenstone Belt, which is situated 15 kilometres northeast of the multi-million-ounce Bronzewing Gold mine. 


Toro's first phase of drilling will consist of up to five diamond holes for 1000 metres, and, where necessary, the holes will be followed-up by mud rotary collars to pierce through a paleochannel. 

Two holes will be drilled at the November Rain Target Area where reverse circulation (RC) drilling failed to reach the target due to unfavourable drilling conditions. 


The aim of these two holes is to collect information regarding the nature and orientation of the geology in the target area. This information will be important for future programs.

Another two holes will be drilled at the Dusty Nickel-Gold Prospect, where nickel sulphides were recently discovered

These holes will be drilled to gain an understanding of the orientation of the discovery and the relationship to the gold mineralisation underneath. 


If needed, a fifth hole may be drilled at the project to explore for nickel mineralisation at depth. 


"Toro is very pleased to announce the commencement of this year's drilling for gold and nickel at Yandal. The well-established prospectivity of the Yandal Greenstone Belt provides the board with great enthusiasm about the gold potential that exists on the company's ground," Executive Chairman Richard Homsany said. 


"The additional significant discovery of nickel sulphides at the Dusty Prospect, which also contains anomalous gold, gives the Broad further confidence that Toro can significantly enhance value for our shareholders," he added. 


Toro shares have jumped 12.5 per cent and are trading for 0.9 cents each at 2:06 pm AEST. 


Toro Energy (ASX:TOE) begins drill program at Yandal Gold Project


Read the full article on The Market Herald Here

TOE CONFIRMS NICKEL SULPHIDES AT DUSTY

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9th June 2020 - The Market Herald


  • Toro Energy (TOE) has discovered nickel sulphides at the Dusty Nickel Discovery in Western Australia 
  • Mineralogical analysis on samples from 2019 drilling of hole TERC13 has confirmed the hole intersected 36 metres of nickel sulphides from 144 metres 
  • The discovery of nickel at Dusty is significant as the Yandal Greenstone Belt, where Dusty is located, is not known for nickel sulphide mineralisation 
  • Toro is now planning an electromagnetic survey over Dusty to search for electrical conductors that may indicate nickel bearing massive sulphides
  • At least one diamond hole will then be drilled to better understand the nature and orientation of the mineralisation intersected
  • Toro has ended the day with no change and shares trading for 0.8 cents each

Toro Energy (TOE) has confirmed the discovery of nickel sulphides at the Dusty Nickel Discovery in Western Australia. 

Analysis via quantitative scanning electron microscopy (QEMSCAN) has confirmed the discovery of 36 metres of dispersed nickel sulphides from 144 metres downhole in hole TERC13. 


This is much thicker than the three metres that was announced in mid-February. 

Hole TERC13 was drilled as part of Toro's 2019 reverse circulation (RC) drilling program at its Yandal Gold Project in the Yandal Greenstone Belt. 


QEMSCAN provides an analysis of minerals, rocks and man-made materials and it can determine grains and particle size, particle type, and proportion of minerals present. 


Results from the QEMSCAN analysis have confirmed that TERC13 intersected an average grade of 0.23 per cent nickel. 

The discovery of nickel at Dusty is significant as the Yandal Greenstone Belt is not known for nickel sulphide despite lying directly east of the Agnew-Wiluna Belt – one of the most productive nickel belts in the Yilgarn. 


Toro believes that this is because the Yandal remains relatively under explored for nickel sulphides. 


"Confirming the discovery of nickel sulphides at Dusty is an outstanding result. The nickel sulphides are hosted in the same geological settings as almost all of the nickel commercially exploited in the Yilgarn, Western Australia," Executive Chairman Richard Homsany said. 


"The Dusty nickel discovery remains open along strike, north and south, and at depth. Nickel exploration will now continue in addition to exploration activities for gold and other base metals," he added. 


Toro is now planning a ground based moving-loop electromagnetic (MLEM) survey over Dusty to search for electrical conductors that may indicate nickel bearing massive sulphide occurrences. 


At least one diamond hole will then be drilled at Dusty to better understand the nature and orientation of the mineralisation intersected. 

Toro has ended the day with no change and shares trading for 0.8 cents each in a $21.96 million market cap.


ABOUT TORO ENERGY

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ABOUT TORO ENERGY - AUSTRALIA'S URANIUM

Visit Toro Energy's Website Here


Toro Energy Limited is an ASX listed uranium development and exploration company with projects in Western Australia. Toro’s tenure in Western Australia is also prospective for gold and base metals. 


Toro is committed to building an energy metals business with the flagship Wiluna Uranium Project as the centrepiece.

The Wiluna Uranium Project consists of the Centipede, Millipede, Lake Maitland, Lake Way uranium deposits 30km to the south of the town of Wiluna in Western Australia’s northern goldfields.


The Wiluna region is an historic mining precinct dating back to the late 19th century. It has been a prolific nickel and gold mining region and therefore has well developed high quality infrastructure in place. 


The Wiluna Uranium Project has received federal and state government environmental approvals for mining uranium at the Centipede, Lake Way, Millipede and Lake Maitland deposits, the construction of a processing facility and all mine and processing related infrastructure, tailings storage facilities and finished product transport to port. 


The key characteristics of the Wiluna Uranium Project include:

Approvals
Federal and state government environmental approvals received
Title
All tenements secured, mining leases granted
Mining agreement in place with Wiluna people
Resources
JORC 2012
62Mlb Measured and Indicated Resources
Exploration
22Mlb U3O8 at the Dawson Hinkler and Nowthanna deposits
Mining
Shallow open pit to 15 metres
Infrastructure
Established mining centre, access to water, power and services
Finance
Japan Australia Uranium Pty Ltd (three Japanese utilities) and Itochu own an option to acquire a 35% interest in Lake Maitland for US$39M
Mining and processing rate
~1.5Mt/a
Production profile
1 – 2Mlb /a
Mine life
10-20 years


Exploration Projects
In addition to the Dawson Hinkler and Nowthanna deposits that host 22Mlb U3O8 in JORC 2012 Mineral Resources, Toro owns:

  • 100% interest in two exploration licenses making the Theseus Uranium Project in northern Western Australia with JORC Mineral Resources of 6.9Mlb U3O8;
  • Minority interest in a incorporated joint venture with Deep Yellow Limited that owns prospective exploration tenure in Namibia; and
  • Minority equity and financial instruments in Strateco Resources Ltd which owns the Matoush Uranium Project in Quebec, Canada.

Visit Toro Energy's Website Here

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