Drilling at the Centipede, Lake Way and Millipede prospects of Toro Energy’s Wiluna Uranium Project in Western Australia has resulted in a 74% increase in measured and indicated resources at a 200ppm cut-off grade. There are now 25.2 million tonnes @ 551ppm for 30.6 million pounds of U3O8 at the first three deposits proposed to be mined.
This represents 95% of the total resource at this cut-off grade and is an increase of 75%, or 13.3 million pounds, on the previous 2012 estimate for the three deposits. All of the resources at the Centipede and Lake Way deposits, which are both approved for development, are now classified as measured and indicated.
Total JORC-compliant resources for the three deposits at a 200ppm cut-off now stand at 27.1 million tonnes @ 539ppm for 32.3 million pounds. At a 500ppm cut-off the total measured and indicated resource for these deposits is now 10.1 million tonnes @ 912ppm for 20.4 million pounds.
“This drilling program was the first significant program undertaken on these deposits since Toro’s acquisition of the Wiluna project in 2007, and was facilitated with the agreement of the local Traditional Owners,” Toro’s managing director Vanessa Guthrie says.
“While the total resource of U3O8 has not materially changed, both the confirmation of measured plus indicated resources, as well as the continuous high grade zones of mineralization, encourage Toro that selective ore sequencing techniques may allow a processing head grade to be achieved in the first 10 years significantly above the life-of-mine grade.
“The improvements in our knowledge of the deposits also underwrite our mine planning, process flow sheet design and economic modelling and form the basis for completion of the definitive feasibility study that incorporates all six deposits in our Wiluna regional resource,” she says.
The 2013 drilling program was designed to improve Toro’s geological understanding of the resource model, confirm existing data and lift the classification of inferred resources to the measured and indicated categories. It consisted of 435 holes for 8106 metres across the Centipede, Lake Way, Millipede and Dawson-Hinkler deposits. Results from Dawson-Hinkler are yet to be finalized.