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Toro Energy Ltd.
Summary
| Project: | Wiluna | |
|---|---|---|
| Deposit: | Wiluna | |
| Location: | Australia | |
| Commodities: | Uranium-Vanadium | |
| Date: | 10/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 21-10-2019: Toro Energy Ltd. announces a Resource Estimation report for its Wiluna deposit at the Wiluna project. Initial vanadium resource established for project. Toro Energy Limited (ASX: TOE) (Toro or the Company) is pleased to announce a Maiden Vanad | |
| Resources: | (Resource, Inf.): 96.3Mt @ 322ppm V2O5 at project | |
| CP/QP: | [Resources]: Greg Shirtliff, Daniel Guibal (Internal;Condor Geostats Services Pty Ltd.) | |
| ABSTRACT: | Toro Energy Limited (ASX: TOE) (Toro or the Company) is pleased to announce a Maiden Vanadium JORC (2012) Resource for its 100% owned Wiluna Uranium Project (the Project) in Western Australia (refer to Figure 1). The Maiden 2012 Inferred Mineral Resource for the Wiluna Uranium Project has been estimated at 53.6Mt at 0.0382% Vanadium Pentoxide (V2O5) comprising 68,300,000 pounds V2O5 using a cut-off grade of 200ppm U3O8. Recently completed test work has established that V2O5 may be a valuable by-product of processing uranium ore from the proposed uranium mine on the Project1 . Given the expected long-term growth in the price of V2O5 (see below) and the potential future demand, including from Vanadium Redox Batteries (VRBs), Toro believes producing vanadium as a by-product is likely to result in a significant improvement to the feasibility and value of the Project. Table 1 below shows the results of the vanadium resource estimation for all three deposits (CentipedeMillipede, Lake Way and Lake Maitland) individually, as well as the total resource for all three combined. It also shows the total amount of uranium as U3O8 oxide in the ground within each of the U3O8 resource cut-offs as a direct comparison to that of the V2O5 oxide in the ground for those same U3O8 cut-offs. | |
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