Annual report on EL 26542 Sandover for period 27 June 2009 to 26 June 2010

Abstract

During 2009, Toro had arranged an AEM survey to cover this and adjacent tenements, but due to contractor error, this survey was located incorrectly and the data are invalid. It was decided not to directly re-fly the survey and instead, a dedicated heliborne SkyTEM survey will now be carried out during July this year (2010). This survey had been planned for earlier in the year, but was delayed so Toro could apply for cofounding through the NTGS for an associated survey at the Wiso Project. An MMP has been submitted and approved for shallow aircore drilling of palaeochannel targets on EL 26542 and adjacent project tenements, scheduled for later in 2010. It is likely that this drilling will concentrate on tenements to the north that have genuine palaeochannel prospectivity. The terms of a Native Title Agreement are currently being negotiated for the combined tenements with the CLC. This agreement is expected to be concluded by the end of this year however, the CLC has agreed to conduct a heritage clearance in advance of this.