Perth, Oct 7, 2011 (ABN Newswire) - Toro Energy Limited (ASX:TOE) are pleased to announce the execution of comprehensive legal documentation with a group of vendors led by Impact Minerals Ltd (ASX:IPT) and including CITIC Nickel Pty Ltd, Talbot Group Investments Pty Ltd, Spar Resources Pty Ltd, John Rowntree and Teddy Tech Pty Ltd, for the purchase of two exploration tenements, E51/1072 and E51/1075, ("Nowthanna") 50km south of Meekatharra and about 150km west of Toro's Wiluna Uranium Project in Western Australia.
Toro is currently working on a JORC Resource update for the Wiluna Region and it is expected that Nowthanna will constitute a portion of the revised consolidated resource when released this month.
Toro Energy is a modern Australian uranium company with progressive project development, acquisition and growth. The company is based in Adelaide, South Australia with a project office in Perth, Western Australia.
Toro’s flagship and wholly-owned Wiluna uranium project (includes existing mining lease) is 30 kilometres southeast of Wiluna in Central Western Australia.
Wiluna contains two shallow calcrete deposits, Lake Way and Centipede, with prefeasibility and optimisation studies completed and a definitive feasibility study underway. Toro has advanced the Approvals process with an anticipated date of mid-2012, construction through 2013 and first uranium sales in 2014.
Toro has a new uranium project at Theseus in Western Australia, and owns uranium assets in Northern Territory, South Australia and in Namibia, Africa.
ASX:TOE) are pleased to announce the execution of comprehensive legal documentation with a group of vendors led by Impact Minerals Ltd (
Impact Minerals Limited
Toro Energy Limited
){kind=link}