Torque Metals (ASX:TOR) reports it has completed an 80% earn-in to Jindalee Resources’ (ASX:JRL) Maynard Dam Prospect, expanding the Paris Gold-Nickel Project in Western Australia.
The company says the exploration licences EL15/1736, EL15/1747 and EL15/1752 will be transferred to Torque while Jindalee will retain a 20% free carried interest, and these tenements aggregate around 75km-square to the existing Paris tenements bringing the total area of the project to around 176km-square.
The acquisition of EL15/1752 adds a further 14km of prospective strike to the north of the explored areas of the Paris, HHH/Caruso and Observation prospects where Torque’s drilling has generated several new ‘high-grade’ gold intersections since the company listed on the ASX in June 2021.
Torque Metals Managing Director Cristian Moreno said: “To have acquired our 80% interest in this significant new prospect area in such a short space of time has been remarkable.
“To have acquired our 80% interest in this significant new prospect area in such a short space of time has been remarkable”
The 14km of largely unexplored, strike extensions of our high-grade Paris Gold Corridor adds further massive opportunities to grow the Paris Project into a major gold mining camp, similar to that of St Ives operated by Gold Fields immediately to the north of us.
Joint Venture ex-partner SensOre (ASX:S3N) contributed to the funding that enabled Torque to earn its 80%. We appreciate SensOre’s efforts at Maynard’s Dam and wish them all the best in their future endeavours.”
Torque reports SensOre’s AI system along with recent surface geochemistry identified multiple targets along strike from recent discoveries at the Strauss and Paris prospects, and multiple targets potentially related with a splay off the Boulder-Lefroy Fault, a mineralised structure in the Eastern Goldfields passing along the western side of the Paris and Maynard projects potentially generated gold systems consisting of structurally controlled intrusion-associated auriferous quartz veins.
The Maynard’s Dam project has a best historical drilling result of 4m @ 21.21g/t Au from 22m in PBC038, and is located 90km southeast of Kalgoorlie and 2km east of Lanfranchi Nickel as well as 7km east of Gold Fields’ St Ives complex.
The company reports SensOre undertook ‘extensive’ heritage work precluding its drilling, and Torque’s Paris Project now consists of 3 exploration, 2 prospecting and 9 granted mining licences for a total area of around 176km-square.
It also states phase 5 at Paris has recommenced with around 4,500m of reverse circulation (RC) drilling across its ‘high-grade’ gold prospects including Paris, Observation and HHH all targeting ‘major’ gold anomalies from historical drilling results, machine learning algorithms and geological models.
Torque reports its purpose is to investigate the potential connection between the Observation, HHH and Paris prospects where it suspects the 2,500m northwest to southeast gap between the 3 already identified prospects contain multiple parallel mineralised gold structures.
Torque Metals is a mineral exploration company with a portfolio of ‘high-grade’ gold deposits in Western Australia including its flagship Paris Gold Project, located 40km northeast of the Higginsville Gold Mine.
The company also holds the Bullfinch Gold Project around 40km north of Southern Cross in Western Australia.
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