Toro Energy‘s geochemical assays have confirmed a recent diamond drill hole intersected massive nickel-sulphides at Dimma, one of four massive and semi-massive nickel sulphide discoveries within its Dusty Nickel Project in Western Australia.
The strike came in at 2.1 metres massive nickel-sulphides grading at 1.83% nickel, 0.29% copper and 0.55 g/t platinum and palladium from 147.1 metres downhole.
It confirms the drill hole has extended the sub-vertical zone of massive nickel-sulphides at Dimma, with five holes suggesting a continuous lens at least 160 metres long down-dip and open at depth.
Toro Executive Chairman Richard Homsany said it was yet another outstanding intersection at the discovery.
We believe Dimma has considerable potential with all five drill holes intersecting massive Ni-sulphide to date leaving the discovery open both at depth and along strike, north and south,” Mr Homsany said.
“All four discoveries Dusty Nickel Project remain open at depth with Houli Dooley still yet to be tested with a successful follow-up hole, and no drilling yet to be completed between Dimma and Jumping Jack, some 400m away.”
Mr Homsany added that with all four discoveries along strike over around two kilometres of the Dusty Komatiite, the company believed its project would continue to deliver excellent exploration results and reveal itself as an asset of considerable value.
“Toro remains committed to advancing its world-class uranium asset and high-quality nickel discovery, which are in close proximity to each other in a prime mining jurisdiction in WA.
“Toro is confident that with further work both assets will continue to rapidly emerging as stand-alone mining projects and Toro will evaluate its options to maximise their value.”
Tier-1 twins
Toro consider Dusty to be one of two potential Tier-1 Western Australian assets with major upside.
Dusty sits 50 kilometres away from a world class 2.7Mt nickel deposit at Mt Keith and limited testing of 3.5 kilometres of a 7.5-kilometre magnetic trend has already yielded four discoveries.
Toro’s nearby Wiluna uranium project is considerably more advanced, and the company has commissioned a pilot plant design for the project, now including vanadium as a valuable by-product.
A recently completed scoping study over the Lake Maitland deposit showed an annual average production of around 1.3Mlbs U3O8 and 0.7Mlbs V2O5 over a 17.5-year mine life, offering payback in just two and a half years.
Although Indonesian output has put a temporary dampener on nickel prices, the long-term outlook appears much brighter, while the war in Ukraine and energy security shocks have nations and investors warming up to the prospects of a nuclear resurgence.
