Torque Metals Ltd (ASX:TOR) has unveiled the maiden mineral resource estimate (MRE) for the Paris Gold Project in the Goldfields of Western Australia, containing 2.518 million tonnes at 3.1 g/t gold for 250,000 ounces of gold.
The MRE includes the Paris, HHH and Observation deposits, with 22%, 14% and 76% of their respective resources classified in the higher confidence “Indicated” category in the JORC classification.
Torque says the Paris MRE is a shallow gold resource with high recoveries greater an 96%, with combined open pit (190,000 ounces at 2.9 g/t gold) and underground (60,000 ounces at 3.8 g/t gold) potential, supported by a near all-time high gold price of US$2,599 per ounce.
Only 2.5 square kilometres explored to date
“Defining a mineral resource estimate (MRE) of 250,000 ounces at 3.1g/t gold, including 152,000 ounces at 4.3g/t gold in the Paris deposit, with strong open-pit potential, at our Paris Project is the culmination of extensive drilling over a two-year period, coupled with our advanced geological modelling methodology and database managing systems,” Torque Metals managing director Cristian Moreno said.
“This allowed us to confidently deliver a high-grade, shallow-hosted resource.
“Considering the project’s large 57-kilometre strike length, within a generous 350-square-kilometre greenstone belt controlled by Torque, the Paris MRE – currently focused on an area spanning only 2.5 square kilometres – has significant expansion opportunities, with gold already identified both outside and next to the MRE area.
“There is still much work to be done to unearth the full potential of the Paris Gold Project.
“This begins with focusing on the untested targets within the current resource area, in addition to building our knowledge on the structures and possible linkages that exist between our Paris, HHH and Observation deposits.
“I extend my gratitude to our technical team, whose tenacity and expertise have been crucial in reaching this milestone under challenging timeframes. I also thank shareholders for their continued support.
“This significant milestone maintains Torque’s course for success.”
From here, TOR will test strike extensions, interlinking structures and depth potential at the Paris Project, while also beginning a scoping study to assess toll-treat value propositions for the asset.
The company also intends to continue drilling within its tenements close to world-class deposits, including Invincible, St. Ives, Beta Hunt and the Mount Belches Mining Centre.