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Toro Energy Limited (ASX: TOE)

High Grade Gold Potential at Golden Ways Confirmed by Rock Chip Sample Grading 65g/t Gold

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce that geochemistry results from a limited number of surface rock chip samples collected during a recent geological mapping campaign on the Company’s 100% owned Yandal Gold Project (‘the Project’) (Figure 1) confirm the potential for high grade gold in a significant quartz vein hosted gold system in the Golden Ways Target Area (Figure 2).


Highlights:


  • Key assay results for gold on a limited number of rock chip samples collected during a recent field mapping campaign at Golden Ways include: 

    • Sample YGP_R09 – 65.6g/t gold  

    • Sample YGP_R04 – 2.06g/t gold  

    • Sample YGP_R05 – 1.69g/t gold  

    • Sample YGP_R10 – 0.2g/t gold.  

  • A further nine rock chip samples were shown to contain anomalous gold concentrations over 0.01g/t (10ppb) gold. 

  • Anomalous gold samples are widely dispersed throughout the target area.  

  • All samples assayed were from outcropping and sub-cropping quartz veins.  

  • Assay results confirm the potential for high grade gold in a significant quartz vein hosted gold system in the Golden Ways Target Area.  

  • Toro continues to plan the next phase of exploration at Golden Ways as part of a proposed 2020 drilling campaign on the Yandal Gold Project.


Toro Energy Executive Chairman, Richard Homsany, commented: “We are very pleased with the assay results received for the limited number of surface rock chip samples collected during our geological mapping at Golden Ways last year. The results emphatically confirm the significant gold prospectivity of the area. Furthermore, an outstanding result of 65g/t gold in one of the samples confirms the potential for very high grade gold. The 2020 exploration programme is currently being planned and we are enthusiastic about the results of any further work at Golden Ways.


Figure 1: Location of Toro's Yandal Gold Project within the high yielding Yandal Gold District

Figure 2: Location of RC drill holes completed to date in the current drilling programme (see text for details).

Figure 3: Surface geology-regolith map of E53/1211, the exploration tenement that incorporates the Golden Ways Target Area in its north. 


ASX Announcement:

https://www.asx.com.au/asxpdf/20200403/pdf/44gp3qmhwt3s80.pdf


For further information, please contact:

Jane Morgan Management

Investor and Media Relations 

jm@janemorganmanagement.com.au

+ 61 (0) 405 555 618


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