Torque Metals (ASX:TOR) has secured two grants from the Western Australian Government’s Exploration Incentive Scheme for a total of $287,530.
The company will deploy funds allocated from the scheme to the Paris Gold Project to conduct geophysical surveys and drilling.
Under the Co-funded Geophysics Program, Torque obtained $142,530 to conduct high-resolution geophysical surveys to refine structural and mineralisation targets, with the remaining $145,000 awarded under the Co-funded Exploration Drilling Program.
The company will conduct drill testing of priority gold targets to extend known mineralisation and make new discoveries.
CEO Craig Jones says the company is delighted to receive “two highly competitive exploration incentive grants” from the Western Australian Government.
“Securing a combined $287,530 in external funding is a strong endorsement of the prospectivity of the Paris Gold Project and the quality of our exploration strategy,” Jones says.
“These funds will directly support near-term geophysics and drilling programs, allowing Torque to advance exploration in a capital-efficient manner while maximising shareholder value.”
Torque Metals is a mineral explorer focused on unlocking the potential of ‘high-value’ mineral assets in Western Australia’s Goldfields.
Write to Maddison Elliott at Mining.com.au
Images: Torque Metals
