Proactive’s Tylah Tully gives us Just he Facts from Tolu Minerals Ltd (ASX:TOK)(Tolu Minerals Ltd (ASX:TOK)) lastest ASX anniuncement.
Tolu completed Phase 1 of its Airborne Mobile Magneto Telluric (MT) survey over the Tolukuma area in Papua New Guinea.
The survey has identified significant copper-gold porphyry and epithermal gold mineralisation targets, which are now ready for drill testing. The results include a conductivity anomaly extending beyond the southern boundary of the Tolukuma mine, with mineralisation continuing over two kilometres.
The survey also revealed the Belavista advanced target, located 10 kilometres west of Tolukuma, where historical sampling showed promising gold, silver, copper, and zinc values, suggesting porphyry mineralisation. Additional advanced targets include the Idave and Karame epithermal systems, located 2.5 and 4 kilometres west of the Tolukuma mine, respectively. These targets are believed to replicate the Tolukuma vein system.
The survey covered over 700 square kilometres and will continue over the Ipi River and Mount Penck areas. Drilling is expected to commence after final modelling and structural analysis. CEO Iain Macpherson expressed confidence in the survey results, highlighting the potential for these discoveries to expand the Tolukuma mine and increase production scale.