Torque Metals (ASX:TOR) has begun a diamond drilling program at its recently acquired New Dawn Lithium Project in Western Australia.
The drilling will consist of an initial 22 holes for 2,700m to test known pegmatitic bodies for lithium and tantalum.
This news comes after the $42.06 million market capitalisation company collected multiple rock chips from the project that returned lithium oxide (Li2O) grades of up to 6%, announced on 13 September.
Earlier this month, Torque secured an option to acquire the New Dawn project, which lies 600m along strike from the 26.5 million tonnes (Mt) @ 1% Li2O spodumene Bald Hill Lithium and Tantalum Mine.
Commenting on the drill program, Torque Metals Managing Director Cristian Moreno says: “Torque Metals has swiftly moved onto due diligence drilling at the New Dawn Lithium Project to uncover the potential of newly acquired tenements located just 600m west along strike of the Bald Hill mine.
“Torque Metals has swiftly moved onto due diligence drilling at the New Dawn Lithium Project”
The company’s technical team is thrilled to embark on diamond drilling for an initial 2,700m across 22 holes, following impressive rock chip samples grading up to 6% Li2O.
The proposed regional consolidation of Torque’s tenure across 500km-square of the Boulder Lefroy Fault now encompasses promising gold, lithium, and nickel prospects, positioning the company as an active mineral explorer.”
Torque says a 3D model of the pegmatite bodies, generated from public data, positions it to undertake a first-pass diamond drill program to determine the lithium values in pursuance of its due diligence work.
The 22-hole program is designed to confirm the distribution and lithium/tantalum grades of pegmatites. Torque notes it will report drill results once practicable and the data is understood and verified through assays.
The New Dawn project includes 2 granted mining licences considered ‘exceptionally’ prospective for spodumene.
Torque Metals is a precious and battery metals exploration company focused on its assets in ‘well-established’ mineral provinces in Australia.
As of 30 June 2023, the company had $2.09 million cash at hand, according to its latest quarterly report. Torque conducted a share placement to raise $4 million announced on 5 September.
Write to Aaliyah Rogan at Mining.com.au
Images: Torque Metals
