TORO Energy has announced the commencement of a uranium reconnaissance drilling program near Radium Hill, about 80km south-west of Broken Hill, South Australia.
Toro Managing Director Greg Hall says the company plans to drill 50 aircore holes, totaling 2,500 metres, along five traverses. The traverses intersect current day drainage lines of Olary Creek and Blackfellows Creek and underlying palaeochannels interpreted from previous drill hole lithological logs, the PIRSA palaeochannel data set, and airborne EM flown by BHP Billiton.
Two convergent palaeochannels are recognised on this tenement that have the potential to host uranium mineralisation, as they lie downgradient of uranium source rocks at the nearby historic Radium Hill uranium mine (852t of U3O8 produced between 1954 and 1961) and the radiogenic basement of the Curnamona Province further to the north (host to the Honeymoon uranium deposit).
These palaeochannels disgorge into the Murray Basin within EL3521, providing a potential redox trap for oxidised uraniferous fluids.
Toro Energy says each drill hole will be logged with a down-hole gamma probe providing early indications of uranium mineralisation. Samples will also be collected and sent for analysis to confirm the uranium values.
The tenement in which Toro is operating, EL3521, is subject to a uranium rights agreement with Minotaur Exploration Limited.
Drilling should be completed prior to Easter with assay results expected in May 2009.
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