Torque Metals (ASX:TOR) indicates an expansive geological potential for its New Dawn Lithium Project in Western Australia, upon confirming multiple continuous pegmatite lodes.
The $24.48 million market capitalisation company has received results from a reverse circulation (RC) and diamond drilling campaign at New Dawn, which returned consistent and ‘impressive high-grade’ lithium assays.
Assays returned a peak grade of up to 4.42% lithium oxide (Li2O) from hole 24RCND034.
Managing Director Cristian Moreno says every hole drilled encountered vertically stacked pegmatites, which suggests ‘substantial’ mineralisation potential open in all directions.
“Shallow mineralisation was targeted and intersected in multiple holes, best results are 13m @ 1.05% Li2O from 67m, 13.11m @ 1.03% Li2O from 49.9m, and 9m @ 1.01% Li2O from 92m.
The best cumulative result came from hole 24NDDD009 being 28.8m @ 1.01% Li2O from 49.9m.
New Dawn’s initial exploration target, estimated between 8 and 14 million tonnes within the range 1% to 1.2%, is already promising significant expansion potential. Torque is purposefully advancing its exploration endeavours at New Dawn and at the adjacent Paris Gold Project. Our objective is unequivocal: to extend the presence of spodumene-bearing pegmatites and capitalise on substantial gold mineralisation potential.”
Diamond drilling has intersected thick coarse pegmatites and core samples have been dispatched to Independent Metallurgical Operations to manage sighter metallurgical testing.
The company conducted 5,000m of RC and 1,000m of diamond drilling, with the aim to expand and test some portions of the maiden exploration target, which encompasses just 40% of 2 development-ready mining licences.
Torque Metals is a gold, lithium, and nickel explorer focussed on its assets in Western Australia.
As of 31 December 2023, the company had $2.83 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Torque Metals
