Join our daily newsletter At The Bell to receive exclusive market insights
- Toro Energy (TOE) has discovered nickel sulphides at the Dusty Nickel Discovery in Western Australia
- Mineralogical analysis on samples from 2019 drilling of hole TERC13 has confirmed the hole intersected 36 metres of nickel sulphides from 144 metres
- The discovery of nickel at Dusty is significant as the Yandal Greenstone Belt, where Dusty is located, is not known for nickel sulphide mineralisation
- Toro is now planning an electromagnetic survey over Dusty to search for electrical conductors that may indicate nickel bearing massive sulphides
- At least one diamond hole will then be drilled to better understand the nature and orientation of the mineralisation intersected
- Toro has ended the day with no change and shares trading for 0.8 cents each
Toro Energy (TOE) has confirmed the discovery of nickel sulphides at the Dusty Nickel Discovery in Western Australia.
Analysis via quantitative scanning electron microscopy (QEMSCAN) has confirmed the discovery of 36 metres of dispersed nickel sulphides from 144 metres downhole in hole TERC13.
This is much thicker than the three metres that was announced in mid-February.
Hole TERC13 was drilled as part of Toro’s 2019 reverse circulation (RC) drilling program at its Yandal Gold Project in the Yandal Greenstone Belt.
QEMSCAN provides an analysis of minerals, rocks and man-made materials and it can determine grains and particle size, particle type, and proportion of minerals present.
Results from the QEMSCAN analysis have confirmed that TERC13 intersected an average grade of 0.23 per cent nickel.
The discovery of nickel at Dusty is significant as the Yandal Greenstone Belt is not known for nickel sulphide despite lying directly east of the Agnew-Wiluna Belt – one of the most productive nickel belts in the Yilgarn.
Toro believes that this is because the Yandal remains relatively under explored for nickel sulphides.
“Confirming the discovery of nickel sulphides at Dusty is an outstanding result. The nickel sulphides are hosted in the same geological settings as almost all of the nickel commercially exploited in the Yilgarn, Western Australia,” Executive Chairman Richard Homsany said.
“The Dusty nickel discovery remains open along strike, north and south, and at depth. Nickel exploration will now continue in addition to exploration activities for gold and other base metals,” he added.
Toro is now planning a ground based moving-loop electromagnetic (MLEM) survey over Dusty to search for electrical conductors that may indicate nickel bearing massive sulphide occurrences.
At least one diamond hole will then be drilled at Dusty to better understand the nature and orientation of the mineralisation intersected.
Toro has ended the day with no change and shares trading for 0.8 cents each in a $21.96 million market cap.
