Toro announces $4.5m uranium spend in 2010
An exploration program costing $4.5 million to expand its uranium exploration drive in Western Australia and the Northern Territory in calendar 2010, has been announced by Toro Energy.
Toro Energy’s Lake Way prospect in WA
The allocation is the largest single exploration spend to date by Toro in any calendar year in the two regions and reflects, the company said, its intense focus on building new uranium exploration, development and future mining hubs in both.
Toro is already well anchored in the uranium sector in WA and the NT, with work to start next month on a resource evaluation pit at its advanced Wiluna project in WA and evaluation studies continuing on its Napperby project and surrounds northwest of Alice Springs.
Toro announced the 2010 program in WA and the NT will comprise a total of 25,000m of drilling, along with significant airborne geophysics and ground sampling programs on several uranium targets. The schedule includes targeted exploration on greenfield projects along with drilling on more developed brownfield shallow calcrete targets in proximity to the Wiluna Uranium Project.
On its new 100 per cent owned and highly prospective uranium discovery at Lake Mackay in WA, Toro is planning to complete two phases of drilling using both aircore and mud rotary to fully assess the project’s Theseus prospect.
At Toro’s Birrindudu Project in WA (JV with Cameco) a program of drill testing targets generated by previous geophysical surveys will commence and involve 2,100m of Reverse Circulation (RC) and diamond drilling. Cameco Australia previously undertook over $1 million of geophysical surveys to identify targets at Birrindudu.
Airborne electromagnetic (EM) surveys and drill testing will be undertaken over parts of Toro’s significant tenement package in the Northern Territory. This will include drilling programs at Napperby Deeps, Reynolds Range and Sandover projects along with EM airborne surveys over new areas.
In Namibia in Africa, Deep Yellow is earning into Toro-held tenements there, and drilling potential extensions to the Langer Heinrich ore zone channel to the west of this deposit.
Toro Energy believes that greenfield and brownfield exploration using new and existing geological models and techniques will add to the Company’s potential pipeline of uranium projects. Along with carefully targeted value-adding project acquisitions, these will allow Toro to continue to grow as it heads towards its first mine development project at Wiluna by early 2013.