Torque Metals Ltd (ASX:TOR) has completed extension drilling at its flagship Paris Gold Project, southeast of Kalgoorlie on the gold-rich Boulder-Lefroy Fault Zone, and is planning a new phase of drilling.
Assay results are imminent from the 10,000-metre reverse circulation (RC) and diamond drilling program which successfully extended mineralisation previously identified by Torque.
The geological findings suggest not only east-west mineralised structures but also north-south connectivity between previous discoveries Paris, Observation, HHH and Eva.
Further potential
Exploration has revealed the potential of the Paris Gold Project to host multiple deposits within a larger mineralised system characterised by parallel structures — of 2.5 kilometres by 1 kilometre and open — and splays under the control of the Boulder Lefroy System.
While assay results are pending, Torque is devising a follow-up, shallow RC drill program to test ground at Observation for a potential open pit mine development.
The company also advises that its drill for equity agreement with Topdrill has been expanded. This involves 100% of the drilling costs invoiced by Topdrill to be paid in ordinary shares, revised up from $500,000 to $700,000, with a voluntary six-month escrow period on shares issued.
Intercepts prompt expanded program
Torque managing director Cristian Moreno said: “Torque’s RC and diamond drilling program was increased in scale from ~6,500 metres to ~10,000 metres and aimed to extend high-grade gold structures where Torque previously reported notable intercepts such as 35 metres at 14.12 g/t gold, 41 metres at 5.93 g/t gold, 39 metres at 6.05 g/t gold, 27 metres at 10.7 g/t gold, and 27 metres 8.16 g/t gold.
“Solid geological findings to date suggest not only east-west mineralised structures are present in the system, but also north-south connectivity between previous discoveries at Paris, Observation, HHH and Eva prospects, generating mining scale and significant growth options.
“We are grateful to Topdrill for their conviction and support of the Paris drill program, as demonstrated by the expansion of the scale of the drill program, and the size of Topdrill’s investment in Torque will grow to $700,000.
“At Paris, metallurgical tests show strong gravity and cyanide leaching recoveries with 40% gold recovery via gravity concentration. With low-cyanide consumption leaching, Paris at 0.43kg/t and Observation at 0.165kg/t, Paris achieves 96.79% and Observation reaches 99.7% gold recoveries.
“Beyond its geological attraction, Paris Gold Project boasts proximity to infrastructure, sharing a thoroughfare with major gold producers such as Gold Fields Ltd, Northern Star and Karora Resources optimising logistical aspects and its mining licences expediting a pathway to production.”