Toro Energy Limited (ASX: TOE) (“Toro”, the Company’) is pleased to announce that assay results from the 2019 maiden RC drilling programme, at the Company’s 100% owned Yandal Gold Project (‘the Project’), along with detailed surface mapping, have confirmed that a major quartz vein gold system has been intersected in Toro’s first drill holes in the Golden Ways Target Area.
Toro Energy ( ASX: TOE ) Highlights
- Significant quartz vein gold system confirmed at Golden Ways on the Yandal Gold Project.
- Best drill results included:
- TERC12 – 8m @ 0.65g/t gold from 97m, including 2m @ 2.3g/t from 100m downhole.
- TERC11 – 1m @ 3.18g/t gold from 80m downhole.
- TERC12 intersected quartz vein that continuously outcrops at the surface for over 500m in length suggesting significant volume is possible.
- Historical shallow workings along vein suggest higher grades are achievable.
- TERC11 intersection has no surface expression indicating mineralisation is not limited to veins observed at the surface.
- Detailed surface mapping shows the Golden Ways Target Area has the potential to contain several vein hosted gold deposits.
- Extensive exploration programme being planned for 2020 at Golden Ways Target Area.
The best drill results included:
- TERC12 – 8m @ 0.65g/t gold from 97m downhole, including 2m at 2.3g/t from 100m.
- TERC11 – 1m @ 3.18g/t gold from 80m downhole.
Four reverse circulation (‘RC’) drill holes were completed for a total of 792m in Toro’s maiden drill programme at Golden Ways. Drill holes TERC09, TERC10 and TERC11 aimed to test anomalies and alteration from historical drilling, while TERC12 aimed to test a large outcropping quartz vein that was prominent at the surface for over 500m and contained a number of shallow historical workings.
During the drilling campaign Toro also undertook detailed surface mapping around the Golden Ways Target Area, and further south across the entire exploration tenement, E53/1211, that incorporates Golden Ways in its north.
Toro Energy Executive Chairman, Richard Homsany, commented: “The drill results from our maiden drill programme at Golden Ways, Yandal Gold Project, demonstrate the significant opportunity presented by the Project in this high yielding district, and its potential to contain several veins hosted gold deposits. We look forward to furthering high-grade results, with an extensive exploration programme currently being planned for 2020.”
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