Torque Metals (ASX:TOR) has unveiled plans to expand its current diamond and reverse circulation (RC) drilling program at its New Dawn Lithium Project in Western Australia.
The $23.56 million market capitalisation company says multiple lodes remain open to the north and south in the area, with more than 90% of the project yet to be explored and tested.
This news comes after Torque reported new assay results from 2 diamond holes, striking ‘high-grade’ mineralisation up to 2.45% lithium oxide (Li2O).
The best results include hole 23NDDD005 with 6.44m @ 1.01% Li2O from 222.07m, including 3.92m @ 1.52% Li2O from 222.73m and 3.66m @ 1% Li2O from 207m, including 2.63m @ 1.24% Li2O from 209.07m.
According to the company, all holes drilled to date have consistently intersected vertically stacked pegmatites.
Torque Metals Managing Director Cristian Moreno says confirming ‘high-grade’ lithium mineralisation alongside visual observations of shallow RC intervals has increased the company’s confidence in the project and further validated the belief that it holds a ‘significant’ lithium-tantalum deposit.
“The eastern holes have intersected multiple thick, continuous zones of spodumene extending southeast towards Bald Hill, which we hope to confirm with assays.
Favourably, these lodes remain open to the north and south, highlighting the outstanding potential that New Dawn holds.
Our RC drilling has consistently intersected vertically stacked pegmatites in every single hole, with spodumene intercepts apparent under UV light.”
“Our RC drilling has consistently intersected vertically stacked pegmatites in every single hole, with spodumene intercepts apparent under UV light”
Torque notes that assays are still pending for 19 RC and 2 diamond holes, with 6,628m of drilling completed.
The New Dawn project is considered prospective for lithium, tantalum, and tin and lies 600m west of the Bald Hill Mine in the Goldfields region of Western Australia.
Torque Metals is an ASX-listed gold, nickel, and lithium explorer focused on mineral discoveries in the well-established mineral provinces in Australia.
As of 30 September 2023, the company had $3.563 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Torque Metals
