🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Torque Metals confirms high-grade lithium at New Dawn Project, just 600 metres from active mine

Published 07/12/2023, 11:12 am
Updated 07/12/2023, 12:01 pm
© Reuters.  Torque Metals confirms high-grade lithium at New Dawn Project, just 600 metres from active mine

Torque Metals Ltd (ASX:TOR) has fielded promising assay results from its first reverse circulation (RC) drilling campaign at the New Dawn Lithium Project.

There are encouraging signs of high-grade lithium deposits at the project, which also has the advantage of being just 600 metres west of the active Bald Hill lithium-tantalum mine.

Significant spodumene

The drilling campaign, which included 19 RC and two diamond holes, has intersected significant spodumene-bearing pegmatites, with a peak lithium oxide (Li2O) grade of 3.99%.

A highlight from the drill results was hole 23NDRC016, which intersected 35 cumulative metres of lithium mineralised pegmatites.

These findings suggest a continuous lode of mineralisation extending up-dip to the west at the New Dawn tenements.

The results include 10 metres at 1.51% Li2O, from 51 metres, including 1 metre at 3.99% Li2O, from 52 metres. Other significant intersections range from 1.00% to 1.51% Li2O, with notable high-grade inclusions.

The shallow intersections at New Dawn indicate the presence of thick and continuous pegmatite lodes, containing spodumene, a primary lithium ore.

Geological continuity

These lodes remain open in both northern and southern directions, suggesting a potential geological continuity with the adjacent Bald Hill deposit.

Deep intersections mirror these characteristics, with pegmatite bodies also remaining open up-dip towards the west and southeast towards the Bald Hill deposit.

Raman spectroscopy, an analytical technique used to identify molecular structures, confirmed the presence of spodumene in the RC drill chips.

This confirmation was made by the Centre for Microscopy, Characterisation and Analysis of the University of Western Australia.

In addition to lithium, the drilling results from New Dawn also demonstrate strong grades of tantalum, niobium and tin mineralisation, often inversely correlated with lithium concentrations.

This indicates a distinctive mineralisation pattern within the New Dawn project.

Further bolstering its position in the region, Torque has completed the acquisition of three tenements near the Penzance Project from Parker Hill Pty Ltd.

This acquisition expands Torque's exploration footprint to around 600 square kilometres, including various mining and exploration licences. The acquired tenements are strategically located on magnetic anomalies and greenstone belts, indicating potential for lithium-caesium-tantalum (LCT) pegmatites.

With these new developments, Torque Metals is set to consolidate its presence in the region, tapping into the growing demand for lithium, a critical component in the burgeoning electric vehicle and renewable energy sectors.

Proximity to infrastructure

Torque managing director Cristian Moreno said: "Torque presents assay results for its New Dawn lithium project, strategically positioned just 600 metres from Mineral Resources’ Bald Hill operating lithium mine.

“A highlight of our exploration endeavours is encapsulated in drill hole 23NDRC0016, intersecting vertically stacked pegmatites, hosting spodumene, as confirmed by Raman spectroscopy.

This repetition of several stacked pegmatites is a signature of the nearby operating Bald Hill mine.

“The presence of stacked pegmatites enhances the geological diversity of New Dawn and instils confidence regarding its potential scale.

“Cumulative results over 35 metres are 10 metres at 1.51% Li2O from 51 metres, 15 metres at 1.17% Li2O from 220 metres and 10 metres at 1.15% Li2O from 265 metres.

“Beyond its geological attraction, New Dawn boasts proximity to infrastructure, sharing a thoroughfare with major gold, nickel and lithium producers optimising logistical aspects and its mining licences expediting a pathway to production.”

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.