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Tolu Minerals Limited (ASX:TOK)

ALERT: Price-sensitive ASX Announcement for TOK
Current share price for TOK : $1.370 0.06 (4.58%)+
Announcement
Release
29 Oct 2025 9:18AM
Price at Release
$1.310
Full Release
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Summary
Tolu Minerals Limited has identified high-priority exploration targets in the Mt Penck region within New Britain Island, PNG, confirmed through an independent review of Airborne MT Geophysics and historical data. The exploration program will focus on three large regional porphyry copper-gold targets and additional nine geophysical targets. The Mt Penck project is situated in a highly prospective copper-gold belt, supported by significant historical mineralisation data and regional interest from major companies like Rio Tinto. The potential for significant mineralisation, particularly at the Kavola, Peni Creek, and Koibua prospects, is reinforced by the presence of wide zones of low-grade stockwork mineralisation enclosing narrower, high-grade feeder structures. The project benefits from strategic infrastructure access and is positioned at the intersection of major regional structural trends, enhancing its prospectivity for resource development.
Key Points
  • Three large regional intrusive-porphyry targets defined by MT survey.
  • Mt Penck region contains high-grade polymetallic mineralisation and oxide gold enrichment.
  • Strategic location at intersection of regional structural trends enhances exploration potential.
  • Significant historical drilling results indicate gold-silver-polymetallic mineralisation in multiple prospects.
  • Exploration program to focus on nine additional geophysical targets and existing prospects.
  • Project benefits from road access and proximity to a deep-water port.
  • Regional interest from major mining companies like Rio Tinto highlights strategic importance.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.