Torque Metals Ltd has established a “substantial” initial exploration target for the New Dawn Lithium Project, which is just 600 metres east of the active Bald Hill Lithium-Tantalum Mine operated by Mineral Resources Ltd.
The conceptual target of 8-14 million tonnes grading 1.0-1.2% lithium oxide (Li2O) highlights the potential for continued mineralisation along the New Dawn trend and guides Torque toward an initial mineral resource estimate.
Scope for expansion
What’s more, the JORC 2012-compliant exploration target only encompasses 40% of two development-ready mining licences, with scope for expansion as it excludes other prospective areas within the leases and in surrounding tenements.
Torque’s managing director Cristian Moreno said: “We are pleased to announce the maiden exploration target in accordance with JORC 2012 for the two Mining Licences at New Dawn, located just 600 metres west of the active Bald Hill Lithium mine operated by Mineral Resources Ltd.
“Although this initial target is substantial, it's important to note that it only covers approximately 40% of the development-ready mining licences and excludes other potentially mineralised sites in multiple surrounding tenements within the New Dawn Lithium project.
"Torque Metals is optimistic about expanding this exploration target through additional soil sampling, geological mapping and drilling endeavours.”
Drilling ongoing
The company has completed 5,000 metres of reverse circulation (RC) drilling and has 1,000 metres of diamond drilling ongoing with the aim of extending vertically stacked pegmatites that are open in all directions.
Diamond drilling also includes the collection of samples for metallurgical test-work that will be conducted by Independent Metallurgical Operations Ltd (IMO).
Planned exploration tasks aim to verify the exploration target and transition it to a mineral resource estimate through 2024.
This comes as Torque remains focused on continuing to drive activities at New Dawn to grow the extent of the spodumene-bearing pegmatites in the heart of the WA Goldfields.
Aim to extend mineralisation
“Torque is presently engaged in a comprehensive drilling campaign comprising 5,000 metres of RC drilling, just completed, and 1,000 metres of diamond drilling underway,” Moreno said.
“The primary aim is to extend the known mineralisation and to increase the confidence of the data collected so far as we move towards validating this exploration target by establishing a maiden mineral resource estimate.
“I am pleased with the team that has been working tirelessly since Torque acquired access to New Dawn less than six months ago, to be able to deliver this significant exploration target.”
About the exploration target
The lower case of the exploration target tonnage was determined using the proportion of the pegmatites which are mineralised in the best-informed areas of the deposit for each weathering domain and applying this to the broader pegmatite wireframes.
Applying factors to the lower case considered reasonable by the Competent Person enabled the estimation of the upper case of the target tonnage.
The grade applied to the target of 1.0% to 1.2% Li2O represents the range of grades of the main pegmatite lenses within the well-informed areas of the pegmatites and is considered to be a robust estimation of grade.
All necessary approvals for exploration drilling to assess the Exploration Target (NYSE:TGT) have been secured.
The company remains confident that no further approvals are required considering the nature of the pre-Native Title mining licences.
Upcoming developments
Torque plans the following developments across its key projects in the Penzance Exploration Camp in the coming months.
New Dawn Lithium Project:
- RC drilling results;
- Diamond drilling results;
- Metallurgical characterisation; and
- Follow-up drilling campaign
Paris Gold Project:
- Maiden mineral resource estimate;
- RC drilling at Paris;
- RC drilling results; and
- Maiden exploration target.
Cautionary statement: “The exploration target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to estimate a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource.”
Main image: New Dawn Lithium Project is just 600 metres from the active Bald Hill Lithium-Tantalum Mine.