JOHANNESBURG (miningweekly.com) – Australian uranium exploration company Toro Energy has more than doubled the resource estimate for the Napperby uranium project, in the Northern Territory of Australia.

The inferred resource has now been increased to 9,34-million tons, at 0,036% uranium oxide, for 3 351 t of contained uranium oxide. This compared with the previous estimate of 4,6-million tons at 0,031% uranium oxide, for 1 420 t of contained uranium oxide.

Toro stated on Tuesday that with about half of the known mineralised area drilled, the results gave further confidence of the validity of the original historical exploration target range for Napperby, of between 5 700 t and 6 200 t of contained uranium.

The scoping study currently being undertaken at the project was also assessing the overall economics of the project, and Toro stated that defining development options would allow planning for future drill programmes for the Napperby project.

The scoping study was expected to be completed in the March quarter of 2009.

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