PERTH (miningweekly.com) – Uranium developer Toro Energy has reported a 20% increase in the mineral resource estimates for its Centipede and Millipede deposits, in Western Australia, to a combined 15.3-million pounds uranium oxide (U3O8), at an average grade of 1 021 parts per million.
The increase followed the completion of geochemical analysis from recent drilling at the greater Wiluna project, with Toro pointing out on Wednesday that the mineralisation in each of the deposits was shallow lying and extended from around 2 m from surface to a depth of around 8 m to 10 m.
“This improvement in our resource is the result of rigorous scientific research and analysis by our geology team,” MD Vanessa Guthrie said.
“Each drilling campaign at Wiluna since 2012 has significantly improved our geological understanding of the deposits, increased our uranium resource and our confidence in their classification. Our resources are of sufficient quality to support final feasibility studies,” she added.
The improved resource estimate was expected to have a favourable impact on mining head grade and project economics at Wiluna, as Toro updated the mine plan.
Toro was continuing with its development plans for the Wiluna project and the public environmental review period into the Wiluna extension project, which would see mining at the Millipede and Lake Maitland deposits start this quarter, while arrangements for final negotiations of a mining agreement were planned with the Wiluna Traditional Owners.