Dimma Discovery Extended with Two More Zones of Nickel Sulphide Intersected

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce that geochemical assays have confirmed diamond drill hole TED54 intersected two zones of Ni-sulphide mineralisation, including a lower zone of massive Ni-sulphide at the Dimma Ni Discovery site (Figures 1 and 2) within the Company’s 100% owned Dusty Nickel Project (Figure 3). The Dusty Nickel Project (‘the Project’) is located in the Yandal Greenstone Belt, 50km east of the world class Mt Keith Nickel Deposit (Figure 4).

HIGHLIGHTS

Assay results confirm two additional zones of nickel (Ni) sulphide mineralisation were intersected in diamond drill hole TED54, extending the existing Ni mineralisation already intersected at Dusty further towards the surface
Results to date indicate Dimma is a continuous lens of massive Ni-sulphide mineralisation at least 112m in down-dip length and open at depth
TED54 Ni-sulphide Zone 1:
- 4.6m of massive Ni-sulphide at the base of the Dusty Komatiite grading 1.61% Ni, 0.22% copper (Cu) and 0.56 g/t platinum and palladium (Pt+Pd) from 194.2m downhole
TED54 Ni-sulphide Zone 2:
- 9m of blebby and disseminated Ni-sulphide near the top of the Dusty Komatiite unit grading 0.79% Ni from 162m downhole, inclusive of:
Results confirm the potential for lenses of mineralisation different and additional to the massive and semi-massive Ni-sulphide associated with the base of the komatiite
Dimma massive Ni-sulphide discovery remains open along strike and at depth
Dimma is one of four (4) massive and semi-massive Ni-sulphide discoveries at Toro’s 100% owned Dusty Nickel Project (see below), located in the Yandal Greenstone Belt, some 50km east of the world class Mt Keith Nickel Deposit (see Figure 5)
Only ~4.5km of the 7.5km long Dusty Komatiite magnetic trend has been tested to date and Toro has already discovered four zones of massive or semi-massive Ni-sulphide

Management Comment

Commenting on the latest assays from Dimma, Toro’s Executive Chairman, Richard Homsany, said: “We are delighted with the pipeline of stunning results being delivered from drilling at the Dimma nickel discovery. Encouragingly, two zones of Ni-sulphide mineralisation, including a lower zone of massive Ni-sulphide has been confirmed at Dimma, extending the known nickel mineralisation at the Dusty Project further towards the surface.

The intersection of Ni-sulphides at the top of the Dusty Komatiite in hole TED54 is the first such intersection at the Dimma discovery. It is considered significant in that it shows that there is the potential for lenses of mineralisation different and additional to the massive and semi-massive Ni-sulphide associated with the base of the komatiite.

All four discoveries to date within the Dusty Nickel Project remain open at depth and with all four discoveries along strike over only some 2km of the Dusty Komatiite, we believe further drilling will continue to prove up the district-scale potential of this asset.”

Figure 1: Example of diamond drill core of massive Ni-sulphide intersected in TED54. The section of core in the photograph is approximately 1.0m long and starts from 196.75m downhole. See text for further details.

The results of the laboratory based geochemical analysis confirmed that diamond drill hole TED54 intersected a 4.6m thick (downhole) zone of massive Ni-sulphide at the base of the Dusty Komatiite grading 1.61% Ni, 0.22% copper (Cu) and 0.56 g/t Pt+Pd from 194.2m downhole.

Furthermore, the assay results also confirmed that TED54 intersected a second zone of blebby and disseminated Ni-sulphides near to the top of the Dusty Komatiite rock unit, which graded 0.79% Ni over 9m from 162m downhole, included 3m grading 1.09% Ni from 166m downhole.

The drill hole details and significant intervals are provided in Appendix 1 and 2 respectively.

The confirmation of the massive Ni-sulphide mineralisation intersected in TED54 also confirms the up-dip extension of the Dimma massive Ni-sulphides discovery. The TED54 intersection extends the geochemistry confirmed Dimma massive Ni-sulphides over four drill holes suggesting that it represents a lens of continuous massive Ni-sulphide mineralisation at least 116m in length from drill hole TED54 to drill hole TED42 at depth (refer to Figure 3). It remains open at depth and open along strike.

The lower massive Ni-sulphide intersection associated with the base of the Dusty Komatiite in TED54 is located in the same stratigraphic position as the massive Ni-sulphide in the other holes drilled at Dimma and confirmed by geochemistry. This is the same stratigraphic position as the massive Ni-sulphide intersected in all the three other massive and semi-massive Ni-sulphide discoveries on the Dusty Nickel Project to date, Jumping Jack, Houli Dooley and Dusty (Figure 4).

The Dimma discovery is located approximately 400m to the SSE of the recent Jumping Jack discovery, along strike of the Dusty Komatiite, which is in turn located approximately 400m SSE of the Houli Dooley discovery and 800m SSE of the original Dusty discovery (refer to Figure 4). There has been no drilling between Jumping Jack and Dimma due to the current location of the Toro exploration camp and hardstand facilities in the way of planned drill hole collars. This is an obvious future area for drilling going forward.

Click here for the full ASX Release

This article includes content from Toro Energy Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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- HJ24DD017 – 25.00m @ 393.64 ppm (0.04%) U ₃ O ₈ from 15.00m ,
  - including 1.00m @ 1,015.29 ppm (0.10%) U ₃ O ₈ from 28.00m
  - and 1.00m @ 2,128.46 ppm (0.21%) U ₃ O ₈ from 34.00m
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  - including 4.00m @ 1,520.58 ppm (0.15%) U ₃ O ₈ from 89.00m
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- HB24DD010 – 15.60m @ 2,237.03 ppm (0.22%) U ₃ O ₈ and 0.53 g/t Au from 68.40m ,
  - including 1.00m @ 2,264.06 ppm (0.23%) U ₃ O ₈ and 0.23 g/t Au from 70.00m
  - and 7.00m @ 4311.16 ppm (0.43%) U ₃ O ₈ and 0.10 g/t Au from 76.00m
  - with highest intercept result of 1.00m @ 1.42% U ₃ O ₈ and 0.01 g/t Au from 80.00m
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- HB24DD008 – 19.00m @ 620.58 ppm (0.06%) U ₃ O ₈ and 1.95 g/t Au from 48.00m ,
  - including 2.00m @ 1,720.45 ppm (0.17%) U ₃ O ₈ and 1.64 g/t Au from 57.00m
  - and 2.00m @ 2,202.16 ppm (0.22%) U ₃ O ₈ and 12.39 g/t Au from 64.00m
  - with highest intercept result of 1.00m @ 2,299.44 ppm (0.22%) U ₃ O ₈ and 24.20g/t Au from 65.00m
- HB24DD006 – 8.00m @ 1,449.86 ppm (0.14%) U ₃ O ₈ & 0.22 g/t Au from 36.00m ,
  - including 1.70m @ 6,208.83 ppm (0.62%) U ₃ O ₈ & 0.78 g/t Au from 37.60m .
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Table 1: Significant intercepts >100ppm U ₃ O ₈
Hole number	From	To	Length (m)	U ₃ 0 ₈ ppm	Au g/t
HB24DD005	47	50	3	371.49	0.18
HB24DD005	55.4	63	7.6	162.71	0.03
HB24DD005	70	74	4	150.17	0.01
HB24DD005	103	111	8	102.27	0.01
HB24DD006	30	33	3	307.07	0.15
HB24DD006	36	44	8	1449.86	0.22
including	37.3	39	1.7	6208.83	0.78
HB24DD006	79	80	1	155.06	0.02
HB24DD007	60	76	16	2151.24	0.01
including	60	72	12	2816.22	0.01
HB24DD007	80	82	2	192.50	0.03
HB24DD007	86	87	1	121.46	0.01
HB24DD008	33	34	1	101.88	0.01
HB24DD008	40	42	2	222.28	0.02
HB24DD008	48	67	19	620.58	1.95
including	57	59	2	1720.45	1.64
and	64	66	2	2202.16	12.39
HB24DD008	73	74	1	190.44	0.23
HB24DD008	81	84	3	487.72	0.03
including	83	84	1	1084.86	0.04
HB24DD009	58	62	4	236.11	0.04
HB24DD009	76	77	1	116.27	0.01
HB24DD009	78	79	1	153.30	0.01
HB24DD010	15	17	2	574.86	0.15
including	15	16	1	1007.04	0.25
HB24DD010	33	41.3	8.3	336.50	0.08
including	40	41.3	1.3	1379.66	0.35
HB24DD010	44	47	3	1339.85	1.18
including	44	45.65	1.65	2191.03	0.96
HB24DD010	53.25	62	8.75	1115.03	1.44
including	53.25	56.1	2.85	2785.70	0.22
HB24DD010	68.4	84	15.6	2237.03	0.53
including	70	71	1	2264.06	0.23
and	76	83	7	4311.16	0.10
with ^#	80	81	1	1.42 %	0.01
HB24DD010	88	89	1	131.48	0.01
HJ24DD014	25.55	27	1.45	180.42	0.01
HJ24DD014	79	80	1	310.13	0.01
HJ24DD014	125	126	1	113.20	0.02
HJ24DD015	95	96	1	321.92	0.40
HJ24DD015	101	103	2	191.03	0.10
HJ24DD015	133	135	2	1229.32	0.02
including	133	135	2	1229.32	0.02
HJ24DD016	69.35	73	3.65	772.12	0.12
including	69.35	70.15	0.8	1285.33	0.15
and	71	72	1	1044.77	0.14
HJ24DD016	76	87	11	229.76	0.02
HJ24DD016	104.4	106	1.6	130.89	0.01
HJ24DD017	15	40	25	393.64	0.01
including	28	29	1	1015.29	0.01
and	34	35	1	2128.46	0.01
HJ24DD017	48	49	1	128.53	0.01
HJ24DD017	51	52	1	142.68	0.01
HJ24DD017	68	69	1	114.85	0.01
HJ24DD017	72	78	6	161.69	0.01
HJ24DD018	21	22	1	277.11	0.01
HJ24DD018	29	32	3	477.18	0.01
HJ24DD018	106	115	9	770.03	0.05
including	111	113	2	2953.90	0.18
HJ24DD019	87	93	6	1177.43	0.04
including	89	93	4	1520.58	0.01
HJ24DD020	70	71	1	199.87	0.01
HJ24DD020	95.55	100	4.45	163.33	0.01
HJ24DD020	104	108	4	196.04	0.01
HJ24DD020	113	114	1	178.65	0.01
HJ24DD020	119	120	1	203.41	0.01
HJ24RC016	35	40	5	176.13	0.01
HJ24RC016	43	44	1	114.62	0.01
HJ24RC016	48	51	3	195.16	0.01
HJ24RC016	62	63	1	109.90	0.01
HJ24RC017	22	23	1	120.87	0.01
HJ24RC018	No significant intercepts to report
HJ24RC019	14	19	5	166.08	0.01

Table 2: Significant intercepts >0.1 g/t Au
Hole number	From	To	Length (m)	U ₃ 0 ₈ ppm	Au g/t
HB24DD005	47	47.7	0.7	233.48	0.51
HB24DD005	48.85	50	1.15	749.97	0.13
HB24DD005	55.4	56	0.6	244.09	0.10
HB24DD006	32	33	1	274.75	0.35
HB24DD006	37.3	39	1.7	6208.83	0.78
HB24DD006	43	44	1	341.97	0.21
HB24DD006	82	83	1	38.68	0.48
HB24DD006	86	87	1	58.25	0.43
HB24DD007	21	22	1	17.92	0.36
HB24DD008	48	51	3	343.34	0.46
HB24DD008	57	60.15	3.15	1220.21	1.10
including	57	58	1	2185.06	2.89
with	57.6	58	0.4	3631.94	5.96
HB24DD008	64	71	7	781.46	4.60
including	64	67	3	1733.42	10.60
with ^#	65	66	1	2299.44	24.2
HB24DD008	73	74	1	190.44	0.23
HB24DD008	79	80	1	30.66	0.10
HB24DD010	15	16	1	1007.04	0.25
HB24DD010	40	41.3	1.3	1379.66	0.35
HB24DD010	44	62	18	778.72	1.34
including	44	47	3	1339.85	1.18
with	52	53.25	1.25	54.01	5.51
including	56.1	60	3.9	259.61	2.92
with	56.1	58	1.9	139.39	5.41
HB24DD010	70	71	1	2264.06	0.23
HB24DD010	73	77	4	855.21	1.97
including	74	77	3	1053.42	2.54
with	74	76	2	545.38	3.54
HJ24DD016	69.35	72	2.65	974.04	0.14
HJ24DD018	111	113	2	2953.90	0.18
HJ24DD019	43	44	1	4.36	0.41
HJ24DD019	88	89	1	841.95	0.15
HJ24RC019	108	109	1	45.75	0.21

Dimma Discovery Extended with Two More Zones of Nickel Sulphide Intersected

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Project Highlights:

The Dusty Nickel Project – Discoveries of Massive Nickel Sulphide

Project Highlights:

Toro Yandal Gold Project

Management Team

Richard Homsany - Executive Chairman

Michel Marier - Non-executive Director

Richard Patricio - Non-executive Director

Dr. Greg Shirtliff – Geology Manager

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