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Toledo Mining Corp. (TMC)

27.25p
   
  • Change Today:
    -0.63p
  • 52 Week High: 34.25
  • 52 Week Low: 20.75
  • Currency: UK Pounds
  • Shares Issued: 49.85m
  • Volume: 30,000
  • Market Cap: £13.58m
  • RiskGrade: 229
  • Beta: 0.58

Further re Berong Update

    


17 February 2010


                      BERONG UPDATE - DRILLING TO COMMENCE

Toledo  Mining Corporation plc ("Toledo" or  the "Company") (AIM:TMC) is pleased
to  announce that  Berong Nickel  Corporation ("BNC")  has received  an approved
Exploration Permit EP60 to commence its planned drilling programme at the Berong
nickel project.  A drilling programme of 20,000 metres will commence immediately
with  six drill rigs which are already on site and is expected to take 12 months
to  complete. Publication of  a revised JORC  resource will follow approximately
six months after completion.  Drilling results will be released as assay results
become available during this period.



The  goal of this programme  is to delineate a  JORC resource of over 40 million
tonnes  of nickel laterite ore, which the Directors consider would be sufficient
to support a potential nickel mine producing 20,000 tonnes per annum of nickel.



BNC  continues  to  assess  the  potential  for  direct ore shipping operations,
however no decision has yet been made to recommence mining operations.



Toledo  has a 56.1 per cent. economic interest  in BNC. Toledo's partners in BNC
are  Atlas Consolidated  Mining &  Development Corporation  which has a 25.2 per
cent.  economic interest and European Nickel which has a 18.7 per cent. economic
interest.





For      further      information      please     visit     www.toledomining.com
 or contact:




  Reg Eccles, Chairman, Toledo Mining            +44 (0) 7803 208 341



  Richard Greenfield, Ambrian Partners Limited   +44 (0) 20 7634 4710



  Alex Buck, BuckBias                            +44 (0) 7932 740 452


                                                                       

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