Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Toro Energy (TOE) has begun its 2020 gold and nickel exploration drilling program at its Yandal Gold Project in WA
  • This phase of drilling will consist of up to five holes for 1000 metres
  • Two holes will be drilled at the November Rain Target Area to collect information regarding the nature and orientation of the geology in the area
  • Another two holes will be drilled at the Dusty Nickel-Gold Prospect, where nickel sulphides were recently discovered
  • If needed, a fifth hole may be drilled at the project to explore for nickel mineralisation at depth
  • Toro shares have jumped 12.5 per cent and are currently trading for 0.9 cents each

Toro Energy (TOE) has begun its 2020 gold and nickel exploration drilling program at its Yandal Gold Project.

The Yandal Gold Project is located within the world-class gold district, the Yandal Greenstone Belt, which is situated 15 kilometres northeast of the multi-million-ounce Bronzewing Gold mine.

Toro’s first phase of drilling will consist of up to five diamond holes for 1000 metres, and, where necessary, the holes will be followed-up by mud rotary collars to pierce through a paleochannel.

Two holes will be drilled at the November Rain Target Area where reverse circulation (RC) drilling failed to reach the target due to unfavourable drilling conditions.

The aim of these two holes is to collect information regarding the nature and orientation of the geology in the target area. This information will be important for future programs.

Another two holes will be drilled at the Dusty Nickel-Gold Prospect, where nickel sulphides were recently discovered.

These holes will be drilled to gain an understanding of the orientation of the discovery and the relationship to the gold mineralisation underneath.

If needed, a fifth hole may be drilled at the project to explore for nickel mineralisation at depth.

“Toro is very pleased to announce the commencement of this year’s drilling for gold and nickel at Yandal. The well-established prospectivity of the Yandal Greenstone Belt provides the board with great enthusiasm about the gold potential that exists on the company’s ground,” Executive Chairman Richard Homsany said.

“The additional significant discovery of nickel sulphides at the Dusty Prospect, which also contains anomalous gold, gives the Broad further confidence that Toro can significantly enhance value for our shareholders,” he added.

Toro shares have jumped 12.5 per cent and are trading for 0.9 cents each at 2:06 pm AEST.

TOE by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold