Toro Energy has announced an upgrade of 20 per cent to the West Australian Wiluna uranium mineral resources.
Drilling campaigns at the Centipede and Millipede unranium deposits have resulted in increased resource estimates of 6.8 million tonnes at 1021ppm (15.3Mlb at 500ppm cut off) and 19.7 million tonnes at 553ppm (24Mlb at 200ppm cut off) respectively.
Mineralisation at the Wiluna deposits is shallow, and ranges from two metres from surface to only 8-10 metres deep.
Some samples have turned in results consistently above 2000ppm, including a single assay of 8406ppm.
Toro managing director Vanessa Guthrie said the improvement in the resource was the result of rigorous scientific research and analysis by the geology team.
“Each drilling campaign at Wiluna since 2012 has significantly improved our geological understanding of the deposits, increased our uranium resources and our confidence in their classification. Our resources are of sufficient quality to support final feasibility studies,” she said.
“We anticipate the improved resource estimate to have a favourable impact on mining head grade and project economics as we update our mine plans.”
Toro’s Wiluna holdings include the Lakeway, Dawson Hinkler, Lake Maitland and Nowthanna deposits.
A period of public environmental review is expected to commence later this year with regard to mining of the Millipede and Lake Maitland Deposits as part of the Wiluna Uranium Project extension.
Arrangements for final negotiations of a mining agreement with the Wiluna Traditional Owners are currently underway.