Nov 7, 2024

Torque Metals Hits 15m @ 12.57g/t Gold at Paris Project, Western Australia

Introduction:

Torque Metals Limited (ASX: TOR) has reported significant gold intercepts from its RC drill campaign at the Paris Gold Project in Western Australia's Goldfields region, highlighted by 15m at 12.57g/t Au from 215m. The results confirm a new, continuous gold lode beyond the current Mineral Resource extents.

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Performance: 5d: -10% | 1m: -13% | 6m: -57% | 1y: -67%

Drill Results:

15m @ 12.57g/t Au from 215m (including 1m @ 75g/t Au from 217m) (24PRC160)
7m @ 7.92g/t Au from 216m (within 15m @ 3.85g/t Au from 216m) (24PRC148)
5m @ 2.37g/t Au from 152m (including 1m @ 10.7g/t Au from 153m) (24PRC125)
4m @ 1.77g/t Au from 64m (including 1m @ 6.85g/t Au from 64m) (24PRC157)‍
3m @ 1.82g/t Au from 93m (24PRC122)

Project Overview:

The Paris Gold Project is located approximately 90km southeast of Kalgoorlie in Western Australia. It covers a 57km strike length within a 350km² greenstone belt. The project area includes 13 mining licences, 4 prospecting licences, and 38 exploration licences, totaling about 1200km² of land.

The current Mineral Resource Estimate for the Paris Gold Project stands at 2.518 Mt @ 3.1g/t Au for 250,000 ounces, encompassing the Paris, HHH, and Observation deposits. The MRE spans a 2.5km strike length and an area of 2.5km², with indications of interlinking structures between the deposits.

Program Details:

Torque completed 7,416m of RC drilling across 39 holes at the Paris deposit. The reported results are from the second batch of assays from 9 holes. The drilling program has revealed a new gold zone in a previously untested area, with mineralization extending westward from the existing pit and continuing southward down plunge from the high-grade zone at the Paris Deposit. The newly identified lode appears to have strong continuity and remains open.

Understanding These Results:

The high-grade intercept of 15m @ 12.57g/t Au from 215m in hole 24PRC160 represents a significant extension of known mineralization beyond the current Mineral Resource boundaries. This result, along with the previously reported 7m @ 7.92g/t Au from 216m in hole 24PRC148, indicates a thick, high-grade gold structure with strong continuity.

The gentle dip of the newly discovered lode suggests potential for more accessible and cost-effective mining compared to steeper lodes. The continuity and grade of the intercepts highlight the potential to expand the resource base and improve the overall grade profile of the project.

Management Commentary:

Cristian Moreno, Managing Director of Torque Metals, stated:

“New opportunities keep emerging at the Paris Deposit, with recent results revealing additional mineralised zones in previously untested areas. Torque’s technical team is strategically extending mineralised boundaries beyond the Mineral Resource Estimate of 250,000 Oz @ 3.1g/t gold with the robust gold-mineralised lode trending east, west, and now discovered southward down plunge. Our focus is clear: expand mineralisation beyond current resource boundaries, upgrade Inferred resource blocks to Indicated and explore high-potential regional targets with strong gold-in-soil anomalies and historical drill intercepts.“

Next Steps & Catalysts:

Torque is awaiting assay results from the remaining 13 RC holes, representing approximately 2,382m of drilling. The company also expects to receive results from ongoing metallurgical test work on Paris core samples later this month.

Future activities at the Paris Gold Project include: - Incorporating new data into a Scoping Study focused on Indicated Mineral Resources - Conducting infill drilling within Inferred resource zones to potentially upgrade classification - Generating and testing drilling targets across broader regional tenements

Commodity Outlook:

Gold continues to be a sought-after commodity, with the Paris Gold Project located in the well-established and highly prospective Western Australian Goldfields region. The project's proximity to existing infrastructure and its position within a known gold-producing area enhance its potential value in the current market context.

Conclusion:

The latest results from Torque Metals' Paris Gold Project demonstrate significant potential to expand the current resource base. With high-grade intercepts outside the existing Mineral Resource and indications of a new continuous gold lode, the project continues to show promise. Upcoming assay results and metallurgical studies will provide further insight into the project's potential in the coming weeks.

Sources:

TOR Drill Results Announcement

Additional Figures:

Australia

ASX

Gold

Nov 13, 2024