$144,500 EIS to drill down plunge gold extensions west of known mineralised zones
Secures EIS Co-Funding Grant to Expand Paris Gold System
Sydney, May 8, 2025 AEST (ABN Newswire) - Torque Metals Limited (
ASX:TOR) is pleased to announce that it has been awarded an Exploration Incentive Scheme (EIS) co-funded grant for diamond drilling from the Western Australian government, Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) at Paris gold project in the West Australian Goldfields.
HIGHLIGHTS
- Torque awarded co-funded diamond drilling grant under the Western Australian Government's meritbased Exploration Incentive Scheme (EIS) for its flagship Paris Gold Project.
- EIS funding will support forthcoming drilling, aimed at testing down-plunge extensions of the high-grade gold system beyond existent Paris deposit Mineral Resource Estimate (MRE).
- Previously planned diamond holes to be redirected specifically to target areas aligning with recently announced Down Hole Electromagnetic (DHEM) plates (5 May 2025).
- One diamond hole will test Plate-1, which aligns with a significant gold intercept 16.3m @ 7.95 g/t Au, suggesting a downdip extension to the west.
- A second hole will be drilled to evaluate extensions related to Plate-2, proximal to previous intercepts of 15m @ 12 g/t Au and 15m @ 3.85 g/t Au, testing possible downdip mineralisation to the southwest.
TORQUE'S MANAGING DIRECTOR, CRISTIAN MORENO COMMENTED:
"Securing EIS co-funding is a resounding endorsement of the exploration potential at Paris. This highly competitive program recognises projects with significant discovery potential, and we are proud to have been selected.
We sincerely thank the Geological Survey and Resource Strategy Division of Western Australia and DEMIRS for their continued support of the exploration industry through initiatives like the EIS, which are vital in driving systematic exploration and unlocking new mineral opportunities."
TARGET DESCRIPTION
In 2016, Touchstone Geophysics completed a suite of geophysical surveys at the Paris Gold Project, including electromagnetic, moving loop (MLTEM), and fixed loop (FLTEM) transient electromagnetic methods (Mutton, 2016).
These surveys identified multiple induced polarisation (IP) anomalies, some partially masked by surface weathering. Follow-up shallow RAB drilling (~15m depth) outlined a gold-copper anomaly coinciding with one of the IP features. This zone remains untested both at near-surface and at depth.
Torque is set to advance exploration at Paris with a targeted diamond drilling campaign, leveraging insights from recent DHEM surveys. The program is designed to test geophysical anomalies interpreted at depth- approximately 200 metres below surface-where extensions of the known mineralised system are considered likely. The drilling plan may be refined to directly test the conductive anomalies identified in the 5 May 2025 update.
The first planned diamond hole will test "Plate-1", a DHEM conductor that correlates with a historical intercept of 16.3m at 7.95g/t Au. This suggests potential for a downdip continuation of high-grade mineralisation beyond the current resource envelope.
A second planned hole will test the extension of "Plate-2" to the southwest. This plate aligns with previous intercepts of 15m at 12g/t Au and 15m at 3.85g/t Au, indicating a strong potential for additional high-grade zones.
Recent DHEM results have confirmed the effectiveness of the exploration model, highlighting that the crosslode mineralisation at Paris is highly conductive and readily detectable. The strongest conductors lie downplunge from known high-grade intercepts, directly supporting Torque's focused drilling strategy.
MINERAL RESOURCE ESTIMATE -PARIS GOLD PROJECT
The Paris Gold Project MRE includes three deposits (Paris, HHH and Observation), which are only partially tested. The project, fully controlled by Torque, covers ~57km strike length within ~350km2 greenstone belt.
Paris MRE spans 2.5km strike length and an area of 2.5km2, with strong indications of interlinking structures between Paris, HHH, Observation deposits and promising gold mineralisation now identified just outside the resource area.
The Paris Gold Project MRE, based on RC and Diamond drilling completed and assayed up to 1 September 2024, was prepared by independent consultants (Mining Plus Pty Ltd) in accordance with the JORC code (2012 Edition), incorporating the Paris, HHH, Observation deposits (see tables 1 and 2 below*).
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/3H3G84S7
About Torque Metals Limited
Torque Metals Limited's (ASX:TOR) entire WA Exploration Camp covers ~1,200km2 of land, including 14 mining licences, 2 prospecting licences and 48 exploration licences ~90km Southeast of Kalgoorlie in WA. Torque is focused on mineral exploration in this well-established mineral province.
Torque Metals has embedded its presence and staked its future on the mineral endowed region south of Kambalda, WA. Through exemplary technical application and rewarding field work Torque recorded its inaugural gold resource within the Paris Gold Project, an inventory within 2.5km strike of a 57km long prospective corridor. Torque continues to evaluate and pursue other prospective opportunities in the resources sector in line with a strategy to develop high quality assets.
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