Adelaide, April 10, 2006 AEST (ABN Newswire) - The first uranium exploration drilling to be undertaken by newly-listed Toro Energy Limited, has commenced in far west South Australia.
Toro Energy (ASX: TOE) - which listed on the ASX two weeks ago - announced today that a 7000 metre program of aircore drilling had started on the Company's 100%-owned Yaninee Project, 50 kilometres east of Streaky Bay.
"To be on the ground drilling within such a short time after listing is indicative of the pace at which we intend to unfurl and activate our uranium exploration strategy," Toro's Managing Director, Mr Greg Hall, said today.
"Our current aircore drilling program targets sedimentary deposits within the Yaninee Palaeochannel system. Exploration in the area in the early 1980s discovered and partly outlined the palaeodrainage system with anomalous uranium concentrations but did not test the system further."
The Yaninee Project comprises six exploration leases (EL 2861, EL 2891, EL 3135, EL 3255, EL 3366 and EL 3367) covering 2,733 square kilometres.
Up to 100 holes will be drilled in the program, the cost of which has been supported by the SA Government's PACE initiative.
Contact
Greg Hall
Toro Energy Limited
TEL: +61 8 8366 6000
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
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