Toro begins drill planning

Toro Energy has flagged its intent to begin a significant sonic core drilling program at its Wiluna uranium project, located in Western Australia's mid-west region.

A uranium explorer with interests in Australia, Canada and Namibia, Toro told the market its purpose was to provide targeted potential ore in bulk to its pilot Perth-based plant.

Sonic core drilling allows a diverse range of soils to be penetrated easier and is often used when the integrity of the core sample in question is paramount.

All potential ore types and uranium-vanadium grades from the project's deposits will be contained within the drill plan - with 20 dry tonnes of potential ore to be transported to the pilot plant, with construction of the facility slated for the middle of 2024.

"Above all, we are excited by the vast opportunity that this next phase of work represents for our shareholders," Toro's executive chairman Richard Homsany said.

"The upside from here is considerable, not only because of the strong uranium market environment, but also as a result of striving to unlock the inherent optimisations that exist within Wiluna across all three deposits.

"The financial outcomes at Wiluna are expected to be proven as large and transformational.

"We look forward to providing updates on our progress, as we continue to embrace a strengthening global uranium market and shifting community attitudes towards supporting nuclear energy and the role of Australian uranium mining.”

Last Thursday, opposition leader Libby Mettam said if victorious at the 2025 state election, the Liberal party would lift the current uranium mining ban, which has been in effect since 2017. 

Ms Mettam told Business News that WA could play a major role in the sector's rise, with the present uranium spot price at $US85.85 per pound. 

"Uranium mining plays a crucial role in supporting energy security, both domestically and globally," she said.

"As the world transitions towards cleaner energy sources, uranium will continue to be in high demand for nuclear power generation. By producing uranium domestically, Western Australia can contribute to the stability of global energy markets and contribute to a global carbon emission goal."

On the same day, premier Roger Cook publicly re-affirmed the state government's commitment to renewable energy instead of nuclear energy. 

"I think Western Australians want to see parties put forward sensible policies - which is about us becoming a renewable energy powerhouse for the world," he said.