Toro commences Palaeochannel UraniumDrilling near Radium Hill,...

Toro commences Palaeochannel Uranium
Drilling near Radium Hill, SA
Toro Energy Limited (Toro) is pleased to announce the commencement
of a uranium reconnaissance drilling program near Radium Hill, about
80km south-west of Broken Hill, South Australia.
Toro plans to drill 50 aircore holes, totaling 2,500 metres, along five
traverses. The traverses intersect current day drainage lines of Olary
Creek and Blackfellows Creek and underlying palaeochannels interpreted
from previous drill hole lithological logs, the PIRSA palaeochannel data set,
and airborne EM flown by BHP Billiton.
Two convergent palaeochannels are recognised on this tenement that
have the potential to host uranium mineralisation, as they lie downgradient
of uranium source rocks at the nearby historic Radium Hill
uranium mine (852t of U3O8 produced between 1954 and 1961) and the
radiogenic basement of the Curnamona Province further to the north
(host to the Honeymoon uranium deposit). These palaeochannels
disgorge into the Murray Basin within EL3521, providing a potential redox
trap for oxidised uraniferous fluids.
Each drill hole will be logged with a down-hole gamma probe providing
early indications of uranium mineralisation. Samples will also be collected
and sent for analysis to confirm the uranium values.
The attached map shows the drilling traverses (1 to 5) on an airborne EM
image base. Drill holes will be located about 500-1000m apart with infill
drilling possible if uranium mineralisation is detected.
The tenement in which Toro is operating, EL3521, is subject to a uranium
rights agreement with Minotaur Exploration Limited.
Drilling should be completed prior to Easter with assay results expected
in May 2009