Torque Metals shares spike on ‘bonanza’ 185g/t gold grades at Paris Project in WA 

Gold explorer Torque Metals (ASX:TOR) has delivered ‘bonanza’ gold grades up to 185 grams per tonne (g/t) following diamond drilling (DD) at its Paris Project in Western Australia. 

The results, generated from 4 diamond holes completed at both the Paris and Observation prospects, have defined ‘high-grade’ gold mineralised zones. 

Torque reports it has completed an additional 52-hole reverse circulation (RC) drill program at the Paris, HHH, and Observation prospects, with assay results due imminently.    

Further drilling completed at Paris includes a second diamond drilling program comprising 3 holes, which was designed to test extensions to the mineralised structure to the west of the Paris prospect. Assays are expected to be received this quarter. 

Shares in Torque Metals are up 17.24% and trading at $0.17 at midday AEST. The company has a $16.38 million market cap.

Key intercepts from diamond drilling include hole 23PRCDD076 with 2.49m @ 40.6g/t gold (Au) from 167.8m, 4.44m @ 20.82m Au from 170.3m, and 1.2m @ 185g/t Au from 174.7m, all within 35m @ 14.12g/t Au from 157.85m; and hole 23PRCDD077 with 1.04m @ 83.59g/t Au from 181.34m within 14.76m @ 7.6g/t Au from 168.13m.    

With assays from RC drilling expected to be received soon, Torque Metals announces it has moved forward with first-round metallurgical testwork on the diamond core generated from Paris and Observation, with results scheduled to be returned this quarter. 

In conjunction with metallurgical testwork, Torque notes it has submitted a program of works (PoW) for the next drilling phase at its 9 pre-native-title mining licences at Paris.   

Commenting on the results, Torque’s Managing Director Cristian Moreno says: “Torque’s first-ever diamond drilling campaign at Paris and Observation prospects confirmed the existence of high-grade gold mineralised zones in all four drill holes. 

Torque also successfully completed additional RC drilling and diamond drilling programmes, involving a combination of extensional and in-fill drilling at the Paris, HHH and Observation prospects. The company eagerly awaits the assay results from these programs, which are expected to be received over the next several weeks. 

“Torque’s first-ever diamond drilling campaign at Paris and Observation prospects confirmed the existence of high-grade gold mineralised zones in all four drill holes.”

Torque is well-funded to continue driving activities at the Paris gold camp and enhance the scale of this growing gold project in the Western Australian goldfields, situated just 12 kilometres southeast of Gold Fields Ltd’s [JSE:GFI] St Ives Gold Mine and 10 kilometres east of Karora Resources’ [TSX:KRR] Higginsville Gold Operation. Torque has submitted a POW for the upcoming drilling phase, and we anticipate resuming drilling operations as soon as feasible.”

Torque Metals says it is focused on ushering in a new era of exploration by applying advanced geoscience and AI-powered smart exploration to unlock high-value gold deposits in the ‘world-class’ mining jurisdiction of Western Australia. 

The company’s Paris Gold Project is situated on the Boulder-Lefroy Fault Zone southeast of the township of Kalgoorlie.

Torque Metals had $2.7 million cash at hand and no debt as of March 31, according to a company presentation published in May. 

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Images: Torque Metals Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.