Toro Energy commences drilling at Theseus greenfields discovery at Lake Maitland

Toro Energy (ASX: TOE) has kicked off a drill program for the Theseus prospect which was a greenfields discovery by the company at the Lake Mackay uranium project in Western Australia in 2009.
In 2009 Toro discovered a new uranium province named Theseus that was defined from four Toro drillholes, spaced at one kilometre centres.
They reported up to 4.62 metres at 412 parts per million (ppm) eU3O8 from 108 metres. Other results included some sub-one metre intervals at > 1,000ppm eU3O8.
The initial drilling by Toro two years ago was the first ever uranium drilling on the southern edge of Lake Mackay.
The first drill hole in this new program has been completed, which is located between drill holes from the 2009 program, and has returned two zones of uranium mineralisation, with the best intersection from 1 metre at 103.6 at 312ppm eU3O8.
At Theseus, uranium mineralisation is hosted in a sequence of Tertiary sands and clays ranging in depths from 100 metres to 120 metres below surface.
Interestingly, the style of uranium mineralisation is analogous to the recently discovered Afghan Swan Prospect in the Ngalia Basin, Northern Territory.
The new drill program will incorporate 6,000 metres of aircore drilling, followed by a proposed 6,000 metres of rotary mud drilling, and is designed to define the host channel system and outline the extent of continuous uranium mineralisation.
Toro managing director Greg Hall likens Theseus with "similarities to the Beverley and 4 Mile uranium deposits in the Frome Embayment of South Australia."
Best intersections from the 2009 drill traverse were:
- 1.06 metres at 315ppm eU3O8 from 101.99 metres;
- 2.82 metres at 213ppm eU3O8 from 96.51 metres;
- 4.62 metres at 412ppm eU3O8 from 108.3 metres; and
- 4.02 metres at 152ppm eU3O8 from 105.16 metres.
The new drillholes will be sited at nominal 400 metre spacing across the interpreted palaeochannel system.
Mineralisation intersected in the 2009 campaign, covering 5 kilometres of only one east-west drill traverse, demonstrated the potential size of the uranium mineralised system.
There is the potential for similar size extensions to the south and north of this area.
All drillholes will be gamma logged from surface. Confirmatory samples will also be collected and sent for assay from anomalous zones defined by the gamma logging.
Results are expected during the next 4 to 6 weeks.


Originally published at: http://www.proactiveinvestors.com.au/companies/news/18376/toro-energy-commences-drilling-at-theseus-greenfields-discovery-at-lake-maitland-18376.html