DRILLING COMPLETED AT PARIS GOLD PROJECT

New Campaign in the Works

Torque Metals Limited (ASX:TOR) is pleased to announce the completion of extension drilling at its flagship Paris Gold Project, located southeast of Kalgoorlie on the gold-rich Boulder-Lefroy Fault Zone. Assay results are imminent, and a new drilling phase is being planned.

Highlights

  • Approximately 10,000m of RC and Diamond drilling concluded at Paris Gold Project. Assay results imminent.
  • Programme successfully extended mineralisation previously identified by Torque.
  • Geological findings suggest not only east-west mineralised structures but also north-south connectivity between previous discoveries Paris, Observation, HHH and Eva.
  • The Paris Gold Project reveals potential to host multiple deposits within a larger mineralised system characterised by parallel structures (2.5km by 1km and open) and splays under the control of the Boulder Lefroy System.
  • Drill for equity agreement between Torque and Topdrill expanded. 100% of drilling costs invoiced by Topdrill to be paid in ordinary shares, revised up from $500,000 to $700,000, with a voluntary 6-month escrow period on the shares issued.
  • Torque is devising a follow-up, shallow RC drill program to test ground at Observation for a potential open pit mine development.

Torque’s Managing Director, Cristian Moreno comments:

Torque’s RC and Diamond drilling program was increased in scale from ~6,500m to ~10,000m, and aimed to extend high-grade gold structures where Torque previously reported notable intercepts such as 35m @ 14.12 g/t gold, 41m @ 5.93 g/t gold, 39m @ 6.05 g/t gold, 27m @ 10.7 g/t gold, and 27m @ 8.16 g/t gold.

Solid geological findings to date suggest not only east-west mineralised structures are present in the system, but also north-south connectivity between previous discoveries at Paris, Observation, HHH, and Eva prospects, generating mining scale and significant growth options.

We are grateful to Topdrill for their conviction and support of the Paris drill program, as demonstrated by the expansion of the scale of the drill program, and the size of Topdrill’s investment in Torque will grow to $700,000.

In Paris, metallurgical tests show strong gravity and cyanide leaching recoveries with 40% gold recovery via gravity concentration. With low-cyanide consumption leaching, Paris at 0.43kg/t and Observation at 0.165kg/t, Paris achieves 96.7% and Observation reaches 99.7% gold recoveries.

Beyond its geological attraction, Paris Gold Project boasts proximity to infrastructure, sharing a thoroughfare with major gold producers such as Gold Fields Limited, Northern Star, and Karora Resources optimising logistical aspects and its mining licences expediting a pathway to production.

Read the full announcement

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