- Toro Energy (TOE) has initiated a scoping level study for uranium mining and processing of the Lake Maitland Uranium Deposit as a standalone project, which would include vanadium as a by-product
- The Lake Maitland Deposit is located within Toro’s wholly owned Wiluna Uranium Project in Western Australia’s Goldfields region
- The study will incorporate a complete engineering build and operational assessment from mining through to production of a ready-to-transport product for uranium and vanadium
- Research released by Toro earlier this year showed the miner’s ability to successfully produce vanadium as a by-product of uranium leaching and treatment at a marginal cost
- Toro anticipates that any potential cost efficiencies achieved as a result of the study could pave the way to make changes in the mine leading to potential economic benefits
- Compared to Wiluna’s other deposits, Lake Maitland has the greatest potential for economic improvement through application of a new beneficiation and processing circuit
- Toro Energy shares have climbed 21.1 per cent to trade at 2.3 cents each
Toro Energy (TOE) has initiated a scoping level study for uranium mining and processing out of the Lake Maitland Uranium Deposit as a standalone project, which would include vanadium as a by-product.
The Lake Maitland Deposit is located within Toro’s wholly owned Wiluna Uranium Project in Western Australia’s Goldfields region.
The study incorporates a complete engineering build and operational assessment from the mining stage through to beneficiation, processing, treatment and finally the production of a ready-to-transport product for uranium and vanadium.
Research released by Toro earlier this year supports the company’s latest efforts at Lake Maitland, demonstrating the miner’s capability to successfully produce vanadium as a by-product of leaching and treating uranium ore at a marginal cost.
In its initial stage, the latest scoping study will revisit Lake Maitland to reassess the pit design, mine plan and methods envisaged for the operation.
Toro anticipates that any potential cost efficiencies achieved through processing improvements as a result of the study — including the benefits of producing vanadium as a by-product — could pave the way to make changes in the mine with potential economic benefits.
Significantly, Lake Maitland accounts for 42 per cent of Wiluna’s contained uranium concentrates and 26 per cent of its contained vanadium pentoxide inventory at 200 parts per million cut off.
The company says, compared with the other deposits at Wiluna, Lake Maitland therefore has the greatest potential for economic improvement through the application of a new beneficiation and processing circuit.
Wiluna is one of three uranium projects in Western Australia that have been granted environmental approval for mining from both the State and Federal Governments.
Toro Energy shares have climbed 21.1 per cent to trade at 2.3 cents per share at 5:13 pm AEDT.