Torque Metals (ASX:TOR) has received the first assays from diamond drilling at its New Dawn Lithium Project in Western Australia, confirming spodumene and multiple stacked pegmatite zones.
The $42.82 million market capitalisation company says lithium was confirmed in multiple pegmatite intercepts, with a peak individual grade of 2.79% lithium oxide (Li2O).
Hole 23NDDD003 returned the ‘best’ intersection with 3.57m @ 1.25% Li2O from 26.73 within 8m @ 0.71% Li2O from 22.3m.
Meanwhile, Torque says it struck multiple stacked pegmatites in holes NDDD005, NDDD006, and NDDD007.
Assays are still pending for these holes.
Torque Metals Managing Director Cristian Moreno says the assays confirm that there is near-surface spodumene mineralisation at the project, and the deeper drilling revealed stacked pegmatite zones — demonstrating the potential for scale.
“All 7 holes intersected a number of shallow spodumene enriched pegmatite intervals, some up to 10.19m thick within the first 50m depth.
Of those, the 3 deeper holes located north and east of the central lode confirmed the presence of deeper pegmatite intersections, potentially expanding the project’s mineralised boundaries and demonstrating strong continuity of the logged pegmatites both along strike and down-dip.
“Having confirmed the presence of spodumene-rich bearing pegmatites and multiple deep pegmatite intersections, Torque is continuing its due diligence drilling effort at New Dawn”
Having confirmed the presence of spodumene-rich bearing pegmatites and multiple deep pegmatite intersections, Torque is continuing its due diligence drilling effort at New Dawn, switching predominantly to reverse circulation (RC), with 4 RC holes per each diamond hole for another 4,000m in the second stage.”
An RC rig has been mobilised to focus on the deeper systems in the eastern area where Torque says pegmatites are shown to be thicker and remain open north, south, and at depth.
Torque is continuing drilling, with a further 20 holes for 4,000m.
The company notes an ‘extensive’ area of the 2 mining licences is yet to be tested for lithium potential, including a mapped outcrop to the northwest of the old pit.
Torque Metals is an Australian explorer focused on discovering gold and lithium through its Paris, New Dawn, and Penzance projects.
As of 30 June 2023, the company had $2.090 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Torque Metals
