This from TOE annual report out today. Review of...

This from TOE annual report out today.
Review of Operations
WARRIOR PROJECT
• Tarcoola Joint Venture – Uranium Only – EL 3040 – Range River 100% - Toro Energy earning 75%
• Stella Joint Venture – ELs 3372 and 3369W – Stellar Resources 100% - Toro Energy earning up to 70%
Work carried out by Toro during the year indicates that uranium mineralisation appears to be associated with the margins of the palaeochannel where fluviatile sands are in contact with underlying carbonaceous sediments. A study of the detailed relationship between uranium mineralisation, channel geometry, lithology and Airborne Electromagnetic (AEM) response is in progress.
An airborne electromagnetic (AEM) survey over part of the Warrior Project was completed during 2006 and provided valuable information on the location of the palaeochannels in the area. Toro also acquired AEM survey results from a recent survey carried out over the Stellar licence.
An aircore drilling campaign, guided by the AEM survey results, was commenced in July 2006 with the objective of confirming past exploration results and to test the palaeochannel elsewhere for uranium mineralisation. To date Toro has drilled 281 holes for 13,725 metres at Warrior. These drillholes were gamma logged where possible, and samples submitted for uranium assay. At the time of writing, the results for the latter part of this drilling program were still awaited, as a consequence of the very high demand on analytical services currently being experienced.
Although not all of the analytical results are available from the Warrior drilling program as yet, it is apparent that a significant body of uranium mineralisation has been identified in association with the palaeochannel. This clearly demonstrates that uranium is moving and concentrating in the system. Future work will focus on defining the limits of these known mineralised areas and identifying other areas of anomalous uranium mineralisation along the palaeochannel.