Tolu Minerals (ASX:TOK) announces preliminary results from Airborne MT survey

Tolu Minerals Limited (ASX:TOK) has announced the preliminary results from its Phase 1 of the Airborne Mobile Magneto Telluric (MT) survey, covering 723km2 including ML 104 and surrounding exploration licences. The survey has identified advanced copper-gold porphyry and gold epithermal mineralising targets ready for drill testing, demonstrating the potential for significant growth in the Mineral Resource Estimate and production scale of the operation.

Executive commentary on preliminary Airborne MT survey results

It is very pleasing that the preliminary results of the Airborne MT flown over the mine and adjacent areas have delivered compelling results. A number of anomalous zones identified by the Airborne MT point towards additional mineralised targets over the Tolukuma gold mine and surrounding areas, providing immediate drill targets that have the potential to significantly grow the Mineral Resource Estimate and ultimately the production scale of the operation. In addition to further demonstrating continuity of the Tolukuma epithermal structures to the South, which is currently our primary short-term target area, we have now defined at least two significant porphyry copper-gold targets as well as near surface epithermal gold systems at Idave and Karame that are interpreted to replicate the Tolukuma gold system within ML 104. The Tolukuma vein system seems to form part of a deeper and larger porphyry system to the West that is driving the mineralisation. Further data processing is underway and we look forward to those results as they come to hand. These potential discoveries combined with technologically advanced interpretation methods, supports Tolu's strategy to not only fast track the expansion of the Tolukuma mine, but also rapidly build a portfolio of significant assets. Results to date provide significant additional options to the Company to continue to progress its aggressive exploration programmes and development strategy and confirms the validity of the decision to undertake the Airborne MT earlier than initially scheduled.

Summary of preliminary Airborne MT survey results and outlook

Tolu Minerals Limited (Tolu) has defined significant epithermal and porphyry drill targets through the preliminary results of its Phase 1 Airborne Mobile Magneto Telluric (MT) survey. The survey has identified advanced copper-gold porphyry and gold epithermal mineralising targets ready for drill testing, providing immediate drill targets that have the potential to significantly grow the Mineral Resource Estimate and ultimately the production scale of the operation. The results validate Tolu's decision to advance the timing of the Airborne MT, significantly increasing the company's understanding of its tenements and providing multiple targets for further exploration and Mineral Resource growth. The company looks forward to further data processing results and aims to fast track the expansion of the Tolukuma mine while rapidly building a portfolio of significant assets.