Torque Metals (ASX:TOR) delivers strong gold resource at Paris Project with significant expansion potential

Torque Metals (ASX:TOR) delivers strong gold resource at Paris Project with significant expansion potential

September 18, 2024 Off By MarketOpen

Torque Metals (ASX:TOR) continues to impress with its Paris Gold Project, delivering a robust Mineral Resource Estimate (MRE) of 250,000 ounces at 3.1 grams per tonne (g/t) gold, including a standout 152,000 ounces at 4.3 g/t gold from the Paris deposit alone.

This comes on the back of a two-year drilling program, which has only begun to scratch the surface of the project’s vast potential.

Located in the resource-rich West Australian Goldfields, Torque’s Paris Gold Project is a stone’s throw away from major processing plants operated by industry giants like Gold Fields and Westgold.

The shallow, high-grade nature of the resource is particularly enticing, with over 190,000 ounces recoverable through open-pit mining based on a gold price of A$3,000 per ounce.

The Paris deposit forms the cornerstone of this estimate, with an indicated 34,000 ounces from 284,000 tonnes of ore at 3.7 g/t, and an inferred 118,000 ounces from 810,000 tonnes at 4.5 g/t gold.

Two smaller deposits, HHH and Observation, add further value, bringing the total to a quarter of a million ounces across the project.

Notably, the HHH deposit offers 10,000 ounces of indicated gold from 97,000 tonnes at 3.3 g/t and 63,000 ounces inferred at 1.9 g/t from 1.048 million tonnes.

Torque Metals Managing Director Cristian Moreno highlighted the company’s forward strategy, commenting, “Considering the Project’s large ~57km strike length within a generous ~350km² greenstone belt controlled by Torque, the Paris MRE — currently focused on only 2.5km² — has significant expansion opportunities, with gold already identified both outside and next to the MRE area.”

With 96% gold recovery and the potential to grow the resource significantly, Torque is positioned to extend its exploration and bolster the Paris project.

Further exploration is planned to test the extensions and linking structures between the Paris, HHH, and Observation deposits.

The company also plans to conduct a scoping study to explore toll-treat value options, leveraging the project’s proximity to established infrastructure.

In an increasingly competitive market, Torque Metals stands out for its focus on shallow, high-grade resources with low operational complexity.

For investors seeking exposure to a rapidly advancing project with open-ended growth potential, the Paris Gold Project offers a compelling opportunity without the baggage of deep, complex, and costly mining operations.

The path ahead for Torque looks bright as they aim to unlock more value from this under-explored area of the Western Australian goldfields.

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