Annual amalgamated technical report for period 30 March 2012 to 17 September 2013 GR311 Wiso Project

Abstract

This first Annual Amalgamated Technical Report for ELs 27123 (Jarra Jarra), 27138 (Cooloola) and 29395 (Jarra Jarra West) (known as the 'Wiso Project') covers work carried out during the period from 30th March 2012 to 17th September 2013. Toro is principally seeking to discover uranium in the project area. The main geological models employed are surficial uranium, palaeochannel uranium and sandstone-hosted uranium. The geology is dominated by a veneer of Tertiary sediments estimated to be up to 250 m thick, overlying a 2-3 km thick interval of Neoproterozoic to Palaeozoic Wiso Basin sedimentary rocks. Metamorphic and intrusive rocks of the Aileron Province occur in the southern fringe of the project, where they abut a steep faulted margin of the Wiso Basin, and are likely to be present under the Wiso Basin. There is almost no outcrop in the project area and geophysics will be pivotal to exploration and establishing the thickness of cover. No on-ground exploration has been carried out during the reporting period, but the company has acquired airborne electromagnetics ('AEM') over the western two licences, to compliment AEM acquired in the east in 2010. Collectively, these datasets define a series of palaeochannels within an otherwise flat Tertiary basin, as well as salinity contrasts within that basin. Architectural elements of the youngest section of the Wiso Basin also appear to be evident. None of the previous explorers undertook any on-ground exploration within the project area, and there is no historic drilling of any kind, including water bores. This means that Toro is essentially starting with a 'blank canvas'.