Uranium explorer Toro Energy (ASX:TOE) has intersected 2 new zones of nickel sulphide mineralisation at its Dimma discovery site within the Dusty Nickel Project in Western Australia.
The $39.22 million market capitalisation company reports geochemical assay results confirmed that diamond drillhole TED54 intersected a thick downhole zone of massive nickel sulphide at the base of the Dusty Komatiite. Results from this hole include 4.6m @ 1.61% nickel, 0.22% copper, and 0.56g/t platinum and palladium from 194.2m.
Toro reports the assay results also confirmed that TED54 intersected a second zone of blebby and disseminated nickel sulphides near the top of the Dusty Komatiite rock unit, with results including 9m @ 0.79% nickel from 162m, including 3m @ 1.09% nickel from 166m.
The confirmation of massive nickel sulphide mineralisation intersected in TED54 also confirms the up-dip extension of the Dimma massive nickel sulphide discovery.
Toro says the intersection in TED54 extends the geochemistry-confirmed Dimma massive nickel sulphides over 4 drillholes, suggesting it represents a lens of continuous massive nickel sulphide mineralisation at least 116m long from TED54 to TED42, and it remains open at depth and along strike.
The lower massive nickel sulphide intersection associated with the base of the Dusty Komatiite in TED54 lies within the same stratigraphic position as the massive nickel sulphide intersected in all 3 other massive and semi-massive nickel sulphide discoveries on the Dusty Nickel Project to date, including Jumping Jack, Houli Dooley, and Dusty.
Toro reports there has been no drilling between Jumping Jack and Dimma due to the current location of the company’s exploration camp and hardstand facilities being in the way of planned drillhole collars, and the company notes this is a future area for drilling moving forward.
Commenting on the results, Toro Energy Executive Chairman Richard Homsany says: “We are delighted with the pipeline of stunning results being delivered from drilling at the Dimma nickel discovery.
Encouragingly, 2 zones of nickel sulphide mineralisation, including a lower zone of massive nickel sulphide, have been confirmed at Dimma, extending the known nickel mineralisation at the Dusty Project further towards the surface.
“We are delighted with the pipeline of stunning results being delivered from drilling at the Dimma nickel discovery”
The intersection of nickel sulphides at the top of the Dusty Komatiite in hole TED54 is the first such intersection at the Dimma discovery. It is considered significant in that it shows that there is the potential for lenses of mineralisation different and additional to the massive and semi-massive nickel sulphide associated with the base of the komatiite.
All 4 discoveries to date within the Dusty Nickel Project remain open at depth, and with all 4 discoveries along strike over only some 2km of the Dusty Komatiite, we believe further drilling will continue to prove up the district-scale potential of this asset.”
Toro Energy is a Perth-based uranium explorer with a suite of projects in Western Australia, including its flagship Wiluna Uranium Project, the Theseus Uranium Project, and the Dusty Nickel Project. The company is also a joint venture (JV) partner with Deep Yellow (ASX:DYL) for 3 exploration licences in Namibia.
On 31 March 2023, Toro had $4.475 million cash and liquid financial assets at hand, according to its latest quarterly report published on 28 April 2023.
Write to Harry Mulholland at Mining.com.au
Images: Toro Energy Ltd
