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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:
- 3m grading 1.09% Ni from 166m downhole
- 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 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.
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.
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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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