Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Toro Energy begins survey over Northern Territory uranium provinces  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 18/11/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - ProactiveInvestors - Australia) Toro Energy (ASX: TOE) has begun three airborne electromagnetic surveys over newly-granted tenements in the Wiso and Reynolds Range Projects of the Northern Territory.

The 2,500 line kilometre program, using the Fugro-operated Tempest system, is being carried out over the prospective in-situ recoverable (ISR) uranium provinces.

The Northern Territory Government is financially supporting the projects through its Bringing Forward Discovery program.

The projects have strong potential to host ISR uranium systems similar to the Toro discovery at Theseus in Western Australia.

Like Theseus at the time of discovery, these projects have received no prior exploration beyond shallow rotary air blast drilling, despite their close similarity to existing ISR uranium provinces of the Frome Embayment in South Australia and the Chu-Sarysu Basin in Kazakhstan.

The Chu-Sarysu Basin in Kazakhstan is a world class uranium province, with numerous operating ISR uranium mines scattered along several regional redox fronts, hundreds of kilometres long.

Toro has an extensive ground position in the Reynolds Range-Wiso region that equates in area to one of the Kazakhstan redox fronts, and on that basis the exploration upside in the poorly-explored Tertiary basins of central Australia is considered immense.

The three surveys " Wiso Regional, Reynolds Range Regional and Mount Denison detailed surveys "will enable Toro to map the distribution and groundwater chemistry of Tertiary cover and underlying Neoproterozoic-Palaeozoic basin architecture to better target large scale sedimentary uranium systems.

The Fugro-operated Tempest system is being used because it can delineate the prospective geology for uranium and other commodities in a cost effective manner.

These surveys should be completed within two weeks, after which data processing and interpretation will take place.

Wiso regional survey

The Wiso regional survey, 1.5 kilometre line spacing, covers a large expanse of the Lander Trough of the Arunta Province, the southern depositional axis of the Neoproterozoic Wiso Basin, including its abrupt fault-bound southern margin.

Toro has already identified a saline groundwater discharge zone in the Tertiary cover on the adjacent tenement EL27301 via a geophysical survey in 2010.

This scenario is a direct analogue of the Theseus Prospect, which lies within Tertiary sands above the steep northern margin of the genetically-related Ngalia Basin.

Reynolds North regional survey

The Reynolds North regional survey, 1.5 kilometre line spacing, incorporates a large unexplored area with over 200 metre thick Tertiary sedimentary cover, characterised by interlayered permeable sands and impermeable clays, with disseminated organic matter.

This survey extends geophysical coverage northward from Toro's Mount Denison survey, which in 2010 led to the discovery of an active redox front within coarse Tertiary sands.

Anomalous gamma and uranium assays, including 0.6 metres at 151 parts per million eU3O8, from the redox front support the contention of an active uranium mineral system in the region.

Mount Denison detailed survey

The Mount Denison detailed survey, 500 metre line spacing, is planned to infill the existing regional airborne electromagnetic lines at the Mount Denison roll-front discovery.

This will enable Toro to more accurately define follow-up drilling targets at the prospect.

The three surveys outlined largely cover newly-granted tenements on Aboriginal Freehold Land, for which Toro has been actively negotiating access agreements with Traditional Owners.

Data collected from the Wiso and Reynolds Range projects to date indicate similar geological-host and redox characteristics compared to the "Kazakhstan style" roll front deposits.

A12M funding

Toro recently secured A12 million in funding through a convertible debt facility from Macquarie Bank, increasing the company's working capital to A19.5 million.

The increased funding places the company in a strong financial position to fund completion of the Wiluna Uranium Project Definitive Feasibility Study and finalise the process of negotiation with potential joint venture or funding partners.


  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms ,MENAFN Press
(MENAFN Press) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law ...

Apr 24 2014Mannai Corporation net profit soars 73 percent in Q1 ,MENAFN
(MENAFN) Qatar's Mannai Corporation said that its net profit in the first quarter of this year increased significantly, the Peninsula Qatar reported. The group said that net profit in the period ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Redefining large AOC launches 28€³ MVA monitors ,MENAFN Press
(MENAFN Press) Display specialist AOC launches its first two 28" (71.1 cm) monitors. The m2870Vhe and m2870Vq feature extra-large 16:9 MVA panels with Full HD resolution, wide viewing angles and high ...

Apr 24 2014Finance House Q1 Net Soars 38% to AED 35.51 Million ,MENAFN Press
(MENAFN Press) Finance House PJSC (FH), has kicked-off 2014 on an upbeat note by registering a consolidated net profit of AED 35.51 million for the first quarter of 2014, which is nearly 38% higher ...

Apr 24 2014Mazola launches Sunflower Oil in new 1.8 litre label and packaging ,MENAFN Press
(MENAFN Press) Mazola, one of the leading names in the regional food industry, today announced the launch of its 1.8 litre Sunflower Oil in a brand new pack and label design. The new look perfectly ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Estidama Villa Experience Centre Highlights Benefits of Resource-Efficient Living at Cityscape ,MENAFN Press
(MENAFN Press) The Abu Dhabi Urban Planning Council (UPC) today opened its Estidama villa experience to Cityscape visitors, giving them the chance to explore some of the innovative features designed ...

Apr 24 2014Dusit International reasserts its position as one of Asias leading hospitality groups ,MENAFN Press
(MENAFN Press) Dusit International will reassert its position as one of Asia's leading hospitality groups during the upcoming Arabian Travel Market (ATM), with the attendance of COO David Shackleton ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...


Click to Apply



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help