Toro Energy Limited (ASX: TOE) has announced encouraging geochemistry results from the geological mapping campaign at the Golden Ways target within its Yandal Gold Project in WA.
The company reported that the key assay results for gold on a limited number of rock chip samples collected during a recent field mapping campaign at Golden Ways include 65.6g/t gold; 2.06g/t gold; 1.69g/t gold; and 0.2g/t gold.
TOE said that a further nine rock chip samples were shown to contain anomalous gold concentrations over 0.01g/t (10ppb) gold.
The company reported that anomalous gold samples are widely dispersed throughout the target area. TOE said that all samples assayed were from outcropping and sub-cropping quartz veins.
Toro Energy noted that the assay results confirm the potential for high grade gold in a significant quartz vein hosted gold system in the Golden Ways Target Area.
TOE reported that it is continuing to plan the next phase of exploration at Golden Ways as part of a proposed 2020 drilling campaign on the Yandal Gold Project.
Toro’s 100% owned Yandal Gold Project is located within the world class gold district, the Yandal Greenstone Belt, less than 35km NE of the multi-million ounce Bronzewing Gold Mine.
The project comprises over 143 km2 of contiguous and untested yet highly prospective exploration ground, in the high yielding Yandal Gold District
The project has six main target areas for gold exploration, including a number of gold and nickel-copper-platinum group element (PGE) geochemical anomalies in top-of-basement rock. The target areas include Christmas, Shadow Rock, Golden Way, November Rain, Maze, and Mako.
Geological mapping campaign at Golden Way
The company had completed a detailed geological mapping campaign over the Golden Ways Target Area in November 2019.
TOE said that a total of 20 surface rock chip samples were collected from outcropping and sub-cropping quartz veins. The collection sites were widely dispersed across the entire target area and included three samples on the exploration licence 53/1211 further south of Golden Ways.
The company said that only one sample, YGP_R04, was collected from a historical workings locality. A total of 17 of the rock chip samples were sent to the laboratory for multi-element geochemical assay, inclusive of gold.
High-grade assay results
The company announced that 13 of the 17 rock chip samples analysed was found to be anomalous for gold given the arbitrary nature of the sampling.
TOE said that four of the samples were especially significant, sample YGP_R09 grading 65.6g/t gold, sample YGP_R04 grading 2.06g/t gold, sample YGP_R05 grading 1.69g/t gold and sample YGP_R10 grading 0.2g/t gold.
YGP_R04: TOE said that sample YGP_R04 (2.06g/t gold) is from the large NNW trending quartz vein intersected by RC drill hole TERC12 at 97m downhole and thus confirms that gold mineralisation is potentially continuous from the surface to at least 90-100mm vertical depth (assuming sub-vertical orientation of vein) in this vein set. This is important because the individual vein set is at least 500m long if restricted to what is outcropping at the surface.
YGP_R05: The company reported that sample YGP_R05 (1.69g/t gold) is from a small sub-crop of quartz vein 180m to the NE of YGP_R04 that aligns with other quartz vein outcrops running roughly parallel to the vein at YGP_R04 for some 860m if all outcrops are included. This suggests there is potential that both NNW trending vein sets are highly prospective for gold, culminating in at least 1.3km of overall target length.
YGP_R09: Toro said that sample YGP_R09 (65.6g/t gold) was sampled some 700m to the NNE of YGP_R04. It represents quartz vein sub-crop that can be followed for approximately 220m along a NE strike, almost the opposite direction to the vein sets represented by YGP_R04 and 05.
YGP_R10: The company announced that sample YGP_R10 (0.2g/t gold), also regarded as highly anomalous for an arbitrary rock chip sample, was collected from a site over 1km to the NNW of YGP_04, from a thick outcropping quartz vein with a NW strike.
High-grade gold potential at Golden Ways
The company said that the gold assay results from the rock chip samples and their distribution across the Golden Ways Target Area confirm that the entire Golden Ways Target Area is prospective for vein hosted gold deposits with many target veins outside of that intersected and reported on for drill hole TERC12.
TOE also said that the vein gold system at Golden Ways has the potential for high grade gold.
Updates and next steps
Toro reported that it is currently planning for follow-up exploration at Golden Ways targeting quartz vein gold systems in the upcoming 2020 drilling programme.
The company said that the details of the nature of future work at Golden Ways and the rest of the Yandal Gold Project are currently being assessed.
Toro Energy Executive Chairman, Richard Homsany said: “We are very pleased with the assay results received for the limited number of surface rock chip samples collected during our geological mapping at Golden Ways last year.
The results emphatically confirm the significant gold prospectivity of the area. Furthermore, an outstanding result of 65g/t gold in one of the samples confirms the potential for very high grade gold.
The 2020 exploration programme is currently being planned and we are enthusiastic about the results of any further work at Golden Ways.”