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An exciting prospect in a new uranium province.
# CAUTIONARY STATEMENT
The Exploration Target Range (ETR) is conceptual in nature and there has been insufficient exploration completed to define this material as a Mineral Resource. There is no certainty that the further work referred to herein will result in the determination of a Mineral Resource.
Discovered by Toro in 2009, Theseus is located near Lake Mackay on the Western Australian/Northern Territory border. Toro has identified a confident “JORC” resource of 6.9 million pounds of uranium oxide at 493 ppm, within a small part of the larger Theseus footprint, which has an exploration target range of 28 to 40 million pounds of uranium oxide at 450 to 520 ppm.
The Theseus discovery is significant, as it occurs within a completely new uranium province in central Australia, comparable to well-known uranium provinces in the Lake Frome district of South Australia, Wyoming in the USA and Chu-Sarysu Basin of Kazakhstan.
The uranium mineralisation is hosted in interlayered sands and clays between 100 and 140 metres below the surface, and is identified as a roll front. The prospect is geologically similar to Beverley and Four Mile uranium deposits in South Australia, both of which are amenable to In Situ Recovery (“ISR”).
The high-grade footprint at Theseus has excellent potential to grow internally and extend in several directions. Further exploration drilling will be key in determining the true extent of the Theseus prospect.
Toro has developed a positive working relationship with Traditional Owners at the nearby community of Kiwirrkurra, with a number of Aboriginal peple having worked with Toro during the exploration phase. Toro feels privileged to operate in the Lake Mackay region and appreciate the way they have been encouraged and supported by the local community.