Torque Metals Reports Maiden Mineral Resource Estimate of 250,000 Ounces of Gold at Paris Project, Western Australia

2 min read | September 18, 2024 04:45 PM AEST | By Team Kalkine Media

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Torque Metals Reports Maiden Mineral Resource Estimate of 250,000 Ounces of Gold at Paris Project, Western Australia — Image source: shutterstock

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Torque Metals Ltd (ASX:TOR) has announced the maiden Mineral Resource Estimate (MRE) for the Paris Gold Project, located in Western Australia’s Goldfields region. The estimate details a resource of 2.518 million tonnes at 3.1 grams per tonne (g/t) gold, translating to a total of 250,000 ounces of gold.

The MRE incorporates resources from the Paris, HHH, and Observation deposits. Of these, 22%, 14%, and 76% of the respective resources are classified in the “Indicated” category according to the JORC classification, reflecting varying levels of confidence in the resource estimates.

The Paris MRE is characterized by its shallow depth and high recovery rates exceeding 96%. The resource estimate highlights both open-pit and underground potential, with 190,000 ounces of gold at 2.9 g/t from open-pit operations and 60,000 ounces of gold at 3.8 g/t from underground operations. This comes in a period of high gold prices, which are currently near an all-time peak.

The area explored to date is relatively limited, covering only 2.5 square kilometres. The MRE results are based on a substantial two-year drilling campaign, coupled with advanced geological modelling and data management systems. This effort has enabled the delivery of a high-grade, shallow-hosted resource.

The Paris Gold Project features a large strike length of 57 kilometres within a 350-square-kilometre greenstone belt controlled by Torque Metals. The current MRE, which focuses on a small portion of the total land area, suggests significant potential for resource expansion. Gold mineralization has already been identified outside and adjacent to the current MRE area.

Future exploration will target strike extensions and deeper potential within the existing resource area, as well as investigate the structural linkages between the Paris, HHH, and Observation deposits. Additionally, a scoping study is planned to evaluate the feasibility of toll treatment options for the project.

Torque Metals also plans to continue drilling within its tenements, focusing on areas near world-class deposits such as Invincible, St. Ives, Beta Hunt, and the Mount Belches Mining Centre. The company aims to further define the potential of the Paris Gold Project and advance towards its development goals.

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