The couple reach the ground of the Boulder-Lefroy project
Newcomer Torque Metals wasted no time in launching drill testing on its flagship gold project in brownfields of Paris in the world-class, world-class Boulder-Lefroy fault zone province of or, in WA. As the dust still settles on the successful listing of its shares on the Australian Securities Exchange at the end of last month, the Perth-based gold junior has already completed a first round of reverse circulation drilling in Paris about 120 km au south-southeast of Kalgoorlie. .
In 2020, Torque released an estimate of the remaining indicated mineral resources for Paris – including the Paris and HHH deposits – of 314,000 tonnes grading an average of 3.24 grams per tonne of gold for 32,700 ounces of gold contained.
Former owner of Paris and now principal shareholder of Torque, Austral Pacific achieved gold production totaling 18,232 ounces of gold in 2017 from the shallow open-pit mines of Paris and nearby HHH, which spat out ore from oxide with an impressive average grade of around 4 g / t gold. .
The six RC holes that Torque has just completed for an overall drilling coverage of approximately 1000m were aimed at drilling possible down-dip extensions of the gold mineralization known as the existing Paris and HHH open pit pits of the then project. that it seeks to extend the resource.
Management expects to receive the results of the analyzes next month.
Our plan in Paris is to expand the known resource of approximately 33,000 ounces by diligently drilling below the pit, around the pit, down dip and along the strike. We started operating as a result of our recent listing with two RC rigs in operation.
The first deeper hole, which tested the down-dip extensions of Harold’s Shoot, Walter’s Shoot, Lister’s Shoot and Senator’s Shoot in Paris and the down-dip extensions of gold mineralization known as HHH, is part of the RC program of 4,000 m from Torque to Paris.
It is designed to drill multiple holes in drill-ready prospects – including Paris Nord and Strauss – near the Paris and HHH open pits, as well as to probe extensions of the existing gold resource in all directions.
Torque says it will also continue to move towards the mafic-ultramafic contact zone under the Paris resource where a past diamond hole indicated a potential for downward diving with an intersection of 1.36m at an average grade of 4, 84 g / t from 206 m depth.
Paris lies along the direction of a well-known gold mining starburst, not the least of which is the Super Pit, which also populates the prolific gold-bearing structural corridor of the Boulder-Lefroy Fault.
The Boulder-Lefroy Fault Zone in the Yilgarn Craton is home to a staggering gold wealth of over 70 million ounces.
The Paris project area, made up of nine granted mining permits and spanning approximately 143 square kilometers, is a regional neighbor to the large mature gold mining centers of St Ives, Higginsville and Norseman which also populate the fault zone.
Torque was listed on Australia’s main stock exchange last week following a comfortably oversubscribed IPO that ultimately rocked an impressive $ 5.5 million into the tin from a $ 27 issue. , 5 million new shares at 20 cents a pop.
Its expanded tightly held issued capital structure of 62.8 million shares equates to a market cap of $ 13.8 million based on today’s closing share price of 22 ¢.
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