Tolu Minerals Ltd. (TOK :ASX) has provided details on near-mine exploration targets.
Tolukuma is a major epithermal gold mineralization region. Strong vein continuity here indicates that the gold endowment of epithermal veins is around 100koz/100m strike.
Tolukuma Structure has 2000m of vein extension target. Saki-Salat system offers 3000m wide x 800m off mine target. Kimono has 1000m vein system target in NE. Combined targets of 2-3moz targets identified around mine. The longer term potential is much larger
Company Information
- TOK targets combined 7.8-8.5m tonnes at 8-11g/for 2-3moz
- Current endowment is ~100koz/100m through 1.5moz over 1500m (past production + current resource)
- Targets in vein systems extending the Tolukuma mine structure over additional 2000m to SSE
- Tolukuma vein itself extends >2000m SSE from mine area
- Miliahamba-Kunda structure runs parallel to Tolukuma vein
- Gulbadi structure continues 3000m to Taula structures
- Cross vein structures have historically provided very high grade ores
- Off mine targets at Saki-Yava-Soju-Salat are 3000m wide x 800m exposed strike
- Kimono in NE has 1000m of vein system
- Market cap A$58m on 116m shares @ A$0.50
Catalysts
- Large scale full year sampling and drilling program commencing in 2024
- TOK has existing 200ktpa mill to treat ores in 2024
Projects
There is a major system at Saki!
Copper
Now, let's look at its copper.
Head the markets, not the commentators.
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