Toro Energy Expands High Grade Resources at Wiluna Uranium Project

Toro Energy Limited (ASX:TOE) announced it has expanded its high grade resources (500 ppm cut-off) at the 100% owned Wiluna Uranium Project which is expected to deliver improved project economics for Australia’s most advanced uranium development project.
As quoted in the press release:

• Lake Maitland deposit increases to 16.9 Mlbs1 contained U3O8
• Centipede, Millipede, Lake Maitland and Lake Way high grade resources now total 40.4 Mlbs / contained U3O8
• Study of high grade mining strategy to deliver improved project economics now underway

High grade mineral resources at Lake Maitland have increased to 16.9 Mlbs contained U3O8 with an average grade of 929 ppm. This is in addition to the increase in Centipede/Millipede announced in October 2015, delivering an overall increase of 10% in the total contained metal.
The Mineral Resource Estimate for the Centipede, Millipede, Lake Maitland and Lake Way2 deposits is now 40.4 Mlbs contained U3O8 with an average grade of 951 ppm.
The increase at Lake Maitland follows the completion of geochemical analysis of the 2015 drilling campaign which included 49 drill holes for 536m. Fifteen per cent of the holes intersected mineralisation above 2,000 ppm U3O8 in shallow lying zones at a depth less than five metres from surface

Toro Energy Managing Director, Dr Vanessa Guthrie , stated:

The latest increase in resources proves conclusively that the Wiluna Project is able to deliver a high head grade to the mill that will undoubtedly improve project economics Managing. We now have the opportunity to assess the potential for a high grade mine plan and feed this into the optimisation studies over the next few months to deliver improved project economics.

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