Toro Energy delivers 32% boost to 50.1Mlbs uranium resource at Wiluna region

Toro Energy (ASX: TOE) continues to unlock the potential of the Wiluna Uranium Project in Western Australia, and today delivered yet another boost in an updated resource.

The resource base has increased 32% to 50.1 million pounds of contained U3O8, which is comprised from 52.25 million tonnes at 434 parts per million (ppm) for 22,641 tonnes of contained uranium at 200ppm U3O8 cut-of.

Greg Hall, managing director, said that Toro was moving closer to being Australia’s next uranium producer.

"The resource upgrade of the Centipede and Lake Way deposits and recent successful pilot plant processing testwork enhance the continuing technical feasibility study of the Wiluna Project, currently in the public review phase of government assessment."

Wiluna resources in the Centipede and Lake Way deposits have been upgraded with additional drilling, with 58% of the project resource now in the higher confidence categories of Measured and Indicated.

Highlighting the progression of the project, Toro is already seeking Government approvals to commence mining of these two deposits.


The Millipede deposit

The Millipede deposit represents an increase of 30% over the expected 4 to 5 million pound exploration target range that was announced earlier in the year, and the Dawson Hinkler results represent a 46% increase over the established resource acquired in 2010.

Importantly - the Millipede, Dawson Hinkler Well and Nowthanna regional resources, acquired over the past 12 months, continue to be evaluated for possible future development.

They are not included in the current assessment being undertaken by the Western Australian and Federal governments for approval of mining at Centipede and Lake Way.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/20534/toro-energy-delivers-32-boost-to-501mlbs-uranium-resource-at-wiluna-region-20534.html