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 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

Apr 23 2014Saudi- Noha Al-Sharif — an expert in Islamic sculpture ,Arab News
(MENAFN - Arab News) Saudi sculptress noha al-sharif is known for her islamic inspired sculptures that reflect both religion and lifestyle. the concept of modern art attracted her to this medium ...

Apr 23 2014Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014Saudi- ASUS showcases product series at Aramco Week ,Arab News
(MENAFN - Arab News) Asus described as the world's renowned consumer notebook vendor and producer of the 'world's best-selling motherboards" recently participated in aramco week and showcased a ...

Apr 23 2014Saudi- Five to die for 2003 attacks ,Arab News
(MENAFN - Arab News) A special criminal court on sunday convicted five people of terror related charges and sentenced them to death. thirty-seven others were sentenced to varying prison terms for ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

Apr 23 2014Qatar's Ezdan Holding buys 20 percent stake in Widam Food ,MENAFN
(MENAFN) Qatar-based Ezdan Holding Group said that it acquired a 20.16 percent stake in Widam Food Co. in a bid to promote investments and diversify its portfolio, The Peninsula Qatar ...

Apr 23 2014Kowait: 5938 illegal residents said 'rectified' status ,Arab Times
(MENAFN - Arab Times) Kuwait city april 5 (kuna): up to 5 938 illegal residents have modified their status since formation of the central agency for remedying illegal residents' status in 2011 ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...





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