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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	TOE
Latest Price:	0.09 (14.86% )
52-week High:	0.11
52-week Low:	0.07
Market Cap:	88.56M

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Toro Energy Full Toro Energy profile here

Toro Energy (ASX: TOE) is a uranium explorer operating in Western Australia, the Northern Territory, South Australia and in the African country of Namibia.

The company’s Western Australian Wiluna Project is at an advanced stage in government assessment and approval. The project hosts two shallow, generally less than 10m deep, calcrete deposits with a Measured, Indicated and Inferred resource of 24.4Mlbs of contained uranium

Toro Energy acquires two strategic exploration licenses nearby Wiluna Uranium Project

Friday, November 13, 2009 by Andrew McCrea

WA-based uranium company Toro Energy (ASX: TOE) has acquired two uranium exploration permits in Western Australia from Liberty Resources (ASX: LBY).

The acquisition covers the Firestrike uranium discovery and associated drilling database.

Consideration for the sale is $1million, to be satisfied by the issue of 5 million ordinary shares in Toro to Liberty free from escrow at $0.20/share.

The uranium permits are strategically located about 20km south east of Toro's Wiluna project, Centipede and Lake Way deposits in WA, providing Toro with additional highly prospective regional uranium exploration tenements.

In 2008 Liberty Resources defined a uranium mineralised calcrete zone over a strike length of 2.7km over the Firestrike uranium discovery, along the eastern edge of Lake Way. It is believed a resource calculation was not progressed by Liberty at the time.

Some of the better intersections in the Firestrike discovery drilling included 1m @ 1245ppm U3O8 from 4m, 1m @ 1091ppm U3O8 from 1m and 2m @ 655ppm U3O8 from 2m.

Drilling has generally been completed on 200-400m spaced traverse lines, although this has been narrowed to 100m in the core Firestrike discovery area.

Toro will target additional drilling and a maiden JORC resource estimate for Firestrike during 2010. Settlement of the transaction is due to occur on 18th November 2009.

The acquisition could lend credence to Toro’s possible intention of positioning Wiluna as as production centre accessing additional uranium resources in the district.

Toro’s Wiluna project is one of the most advanced in Australia.

Toro shares were unchanged at 17c.

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