Torque Metals secures strategic tenement package in WA
May 16, 2024 at 02:16 pm
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Torque Metals Ltd (ASX:TOR) managing director Cristian Moreno sits down with Jonathan Jackson in the Proactive studio to discuss the completion of extension drilling at its wholly owned flagship Paris Gold Project, southeast of Kalgoorlie on the gold-rich Boulder-Lefroy Fault Zone. Assay results are imminent and a new drilling phase is being planned. Moreno also talks about an option agreement to acquire a 100% interest in a strategic package of tenements with gold and lithium potential in the Eastern Goldfields of Western Australia. This acquisition aligns with the company's strategy to consolidate prospective ground near its Penzance Exploration Camp, which includes the New Dawn lithium and Paris gold discoveries. The tenements span approximately 250 square kilometres, increasing Torque’s project area to around 1,200 square kilometres. This expansion will provide Torque with a dominant position in the region. The tenements are near notable projects such as Lord Resources' Horse Rocks, Future Battery Minerals’ Kangaroo Hills and Mineral Resources’ Mt Marion Lithium Project. These areas share similar geological characteristics, primarily greenstone belts with adjacent intrusions, indicating strong potential for gold and lithium. Torque has also applied for additional tenements to expand its New Dawn Lithium Project. Moreno highlighted that upon exercising the options, Torque would secure 100% ownership of the tenements, enhancing its portfolio to include 13 mining, four prospecting and 38 exploration licences. The company has initiated geological mapping and sampling at new target areas, preparing for initial drilling campaigns.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Torque Metals Limited is an Australia-based smart exploration company. The Company is focused on applying advanced geoscience and artificial intelligence (AI)-powered smart exploration to unlock mineral deposits. Its projects include Paris Gold Project, New Dawn Lithium Project and Penzance Nickel Project. Its Paris Gold Project covers approximately 200 square kilometers (km2) of area in the Western Australian Gold Fields. It comprises nine granted mining leases, two prospecting licenses, three exploration licenses. The Penzance Camp is prospective for lithium, gold and nickel and is located along the strike south of the St Ives Gold Mine. Its Penzance Exploration Camp, extending over approximately 800 km2, includes 12 wholly owned, development-ready, pre-native title mining, 4 prospecting and 26 exploration licenses (7 under application) approximately 30km east of Widgiemooltha in Western Australia. The New Dawn Lithium Project occupies two pre-native title, granted mining licenses.