Focused Exploration Increasing Value Of Significant Discovery
Toro Energy Limited (ASX: TOE) has hit another significant intersection of massive nickel sulphides at the Dusty discovery in Western Australia.
Approximately 4.5m cumulative of massive nickel sulphides were intersected over a 9m zone of sulphide mineralisation in diamond drill hole TED07 from 250.9m downhole.
The Dusty discovery is located on the company’s 100% owned Yandal Gold Project, some 50km east of the world class Mt Keith Nickel Deposit and 15km NE of the world class Bronzewing Gold Mine
Diamond drill hole TED07 was the second hole drilled in the follow-up programme at the Dusty nickel sulphide discovery and the fifth hole drilled at Dusty overall, inclusive of the reverse circulation drill hole TERC13 drilled in late 2019.
TED07 was aimed at testing for massive nickel sulphides approximately 100m down-dip (to the east) of the massive nickel sulphides intersected in TED04 earlier this year.
TED07 was positioned in the same location as TED04 and TED06, but angled steeper at 80 degrees in order to meet target depth efficiently. TED07 intersected a 9m zone of sulphide mineralisation from 250.9m downhole at the base of the komatiite rock unit, which included 4.5m cumulative of massive nickel sulphies, starting at the top of the sulphide rich zone.
Executive Chairman, Richard Homsany, said hand-held portable XRF (hh-pXRF) analysis at multiple locations within the massive sulphide zones returned nickel grades of between 2.04 and 7.80% nickel, however this will need to be verified by geochemical analysis.
“We are delighted to announce the further discovery of significant massive nickel sulphides at Dusty. Our focused exploration continues to rapidly increase the value of Toro’s highly significant discovery, as part of Toro’s broader strategy to upgrade the potential at our Yandal Project,” Mr Homsany said.
“To receive these further excellent results at Dusty whilst we await the assay results of our recently completed RC drilling programme for gold, represents a very exciting stage for Toro and our shareholders. Our board and staff remain very enthusiastic especially whilst our diamond drilling campaign continues.?
Mr Homsany said that to encounter massive nickel sulphides at each and every diamond hole for which it was targeted is a credit to the company’s exploration team led by Dr Greg Shirtliff with dedicated and focused work to unlock the value of Dusty.
“It also represents, at an early stage, the characteristics of a very cost-effective pathway to defining potential mineralisation with further drilling,” he said.
“The potential is not only very promising, it is indeed vast.
“Drilling at Dusty represents only one location along a 6.5 to 7.5km long magnetic trend likely to represent the continuation of the Dusty komatiite, which results to date disclose as a potentially fertile host rock.”
