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Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce that geochemical assays have confirmed the massive Ni-sulphides intersected in the discovery holes of the Jumping Jack Ni-sulphide zone (Figure 1), diamond drill holes TED37 and TED38 (Figures 2 and 3), within the Company’s 100% owned Dusty Nickel Project (Figures 3 and 4).
HIGHLIGHTS
- Geochemical assays have confirmed massive nickel (Ni) sulphides were intersected in Jumping Jack discovery drill holes TED 37 and TED 39
- Geochemical assays confirm:
- Diamond drill hole TED37 intersected 3.45m of massive Ni-sulphide grading 1.42% Ni, 0.19% copper (Cu) and 0.76 g/t platinum (Pt) and Palladium (Pd) from 240.1m downhole including:
- 1.45m of massive Ni-sulphides grading 2.2% Ni, 0.36% Cu and 1.27 g/t Pt+Pd from 242.2m downhole
- Diamond drill hole TED38 intersected 2.44m of massive Ni-sulphide grading 1.16% Ni, 0.2% Cu and 0.77 g/t Pt+Pd from 231.65m downhole
- Diamond drill hole TED37 intersected 3.45m of massive Ni-sulphide grading 1.42% Ni, 0.19% copper (Cu) and 0.76 g/t platinum (Pt) and Palladium (Pd) from 240.1m downhole including:
- Jumping Jack is one of four (4) massive and semi-massive Ni-sulphide discoveries at Toro’s 100% owned Dusty Nickel Project, located in the Yandal Greenstone Belt, some 50km east of the world class Mt Keith Nickel Deposit
- Together the four Dusty Ni-sulphide discoveries – Jumping Jack, Dimma, Houli Dooley and Dusty – are the first Komatiite hosted massive Ni-sulphides to be discovered in the region and remain open at depth
- Follows recent exploration success that confirmed nickel sulphide mineralisation at the Dimma discovery extends to 160m down-dip and remains open at depthOnly ~4.5km of the 7.5km long Dusty Komatiite magnetic trend has been tested to date and Toro has already discovered four (4) zones of massive or semi-massive Ni-sulphide
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).
Figure 1: Section of massive nickel sulphide intersected in TED37. See text for further details.
Analysis of returned geochemical assays of drill core samples from diamond drill holes TED37 and TED38, the discovery holes of the Jumping Jack Ni-sulphide zone, confirm that massive Ni-sulphides were intersected over 3.45m from 240.2m downhole in TED37 and over 2.44m from 231.6m downhole in TED38.
The average geochemical grades of the massive sulphide zones were found to be:
TED37
- 3.45m at 1.42% Ni, 0.19% Cu, 0.76 g/t Pt+Pd from 240.2m downhole inc.
- 1.45m at 2.2% Ni, 0.36% Cu, 1.27 g/t Pt+Pd from 242.2m downhole.
TED38
- 2.44m at 1.16% Ni, 0.2% Cu, 0.77 g/t Pt+Pd from 231.6m downhole.
Figure 2: East-West Cross-section (looking north) of the Jumping Jack discovery holes, diamond drill holes TED37 and TED38, along with the average geochemistry for Ni, Cu and Pt+Pd for the massive sulphide intervals. See text for further details.
The Jumping Jack massive Ni-sulphides are the third of four zones of massive to semi-massive Ni-sulphide so far discovered along the Dusty Komatiite. Semi-massive Ni-sulphides were intersected at Houli Dooley, approximately 400m to the NNW of Jumping Jack, massive Ni-sulphides were intersected at Dimma, approximately 400m to the SSE of Jumping Jack and massive Ni-sulphides were intersected at Dusty, the first discovery of massive Ni-sulphides on the Project some 400m to the NNW of Houli Dooley.
As previously announced the massive Ni-sulphide intersections at Jumping Jack are associated with the base of the Dusty Komatiite, or in this case, structurally offset slightly and located at and just beneath the base contact with the underlying footwall metasediments. This is the same stratigraphic association as the other four massive Ni-sulphide zones so far discovered along the Dusty Komatiite.
The Dusty discoveries are the first massive Ni-sulphide to be discovered in the area, proving that ultramafics in the Yandal Greenstone Belt are underexplored and a genuine Ni-sulphide exploration target. Toro have at least two airborne magnetic anomalies identified to be komatiite by drilling that have yet to be adequately tested along strike or at depth, the Dusty Komatiite and the komatiite associated with the Yandal One Prospect some 20km to the south (Figure 4). Together, these two known komatiites represent some 14km total strike length of target geology for massive Ni-sulphide. Only some 4km of the 7.5km long Dusty Komatiite has so far undergone limited drill testing and to date all four Dusty Ni-sulphide discoveries remain open at depth.
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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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