{"id":5569,"date":"2024-02-08T03:28:53","date_gmt":"2024-02-08T03:28:53","guid":{"rendered":"https:\/\/economicherald.net\/?p=5569"},"modified":"2024-02-08T03:28:53","modified_gmt":"2024-02-08T03:28:53","slug":"torque-metals-defines-exploration-target-inside-just-two-of-its-12-new-dawn-lithium-exploration-licences","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5569","title":{"rendered":"Torque Metals defines exploration target inside just two of its 12 New Dawn lithium exploration licences"},"content":{"rendered":"<p>Torque Metals has defined an 8-14Mt @ 1.0-1.2% Li2O exploration target its for New Dawn lithium project<br \/>\n5,000m of RC drilling completed with 1,000m of diamond drilling currently under way<br \/>\nDrilling expected to lead to a maiden resource estimate in an emerging lithium province<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: A mineral resource estimate is on the cards for Torque Metals after defining an exploration target for its New Dawn lithium project across 40% of two development-ready mining licences. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/torque-metals-tor\/\"><strong>Torque Metals (ASX:TOR)<\/strong><\/a> recently completed <a href=\"https:\/\/stockhead.com.au\/resources\/torque-metals-completes-acquisition-down-the-road-from-bald-hill-and-mega-lithium-merger-arcadium\/\">the acquisition of its Penzance exploration camp<\/a> in the heart of WA\u2019s Goldfields, which lies among a he\u00a0\u00a0\u00a0\u00a0 rd of established lithium producers such as <a href=\"https:\/\/stockhead.com.au\/company\/mineral-resources-min\/\"><strong>Mineral Resources\u2019 (ASX:MIN)<\/strong><\/a> Bald Hill and Mt Marion mines.<\/p>\n<p>Penzance contains 12 mining-ready licences and covers ~800km2, right next door and 600m along strike of Ball Hill.<\/p>\n<p>Exploration across the Penzance tenement package over the last few months had identified multiple pegmatites at the New Dawn project, with the junior completing a 21 hole maiden drill program which returned whopping hits including 10m @ 1.51% Li2O from 51m.<\/p>\n<p>TOR says these pegmatites can potentially be extended in multiple directions, according to to the geological model.<\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><\/div>\n\n<h2><strong>Exploration target defined<\/strong><\/h2>\n<p>An initial exploration target of 8-14Mt @ 1.0-1.2% Li2O across just 40% of two out of 12 total mining licences at New Dawn has been defined.<\/p>\n<p>The exploration target includes mineralisation within vertically stacked spodumene-rich pegmatites identified through drilling, as well as the estimated size of pegmatites observed and sampled at the surface, where drilling has been minimal or absent thus far.<\/p>\n<p>The target figures were deduced from:<\/p>\n<p>325 historic reverse circulation drill holes available in public domain;<br \/>\n8 diamond drill holes (containing 965 number of sample assay\u2019s, 161 within pegmatite);<br \/>\n19 reverse circulation drill holes (containing of 986 number of sample assay\u2019s, 535 within pegmatite);<br \/>\n18 surface grab samples;<br \/>\nGeophysics (gravity, magnetics and radiometric imagery);<br \/>\nGIS maps and photos;<br \/>\nSatellite images (drone survey and orthomosaic data; and<br \/>\nStructural data (GSWA data, exploration mapping and downhole structural measurements).<\/p>\n<p>TOR managing director Cristian Moreno says although the initial exploration target is substantial, it\u2019s important to note it only covers ~40% of the development-ready mining licences and excludes other potentially mineralised sites in multiple surrounding tenements within the New Dawn Lithium project.<\/p>\n<p>\u201cThe company is optimistic about expanding this exploration target through additional soil sampling, geological mapping and drilling endeavours,\u201d he says.<\/p>\n<p>\u201cWe\u2019re presently engaged in a comprehensive drilling campaign comprising 5,000m of RC drilling now completed and 1,000m of diamond drilling under way.<\/p>\n<p>\u201cThe primary aim is to extend the known mineralisation and to increase the confidence of the data collected so far as we move towards validating this exploration target by establishing a maiden resource estimate.<\/p>\n<p>\u201cI am pleased with the team that has been working tirelessly since Torque acquired access to New Dawn less than six months ago, to be able to deliver this significant milestone.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Next steps<\/strong><\/h2>\n<p>TOR remains confident no further approvals are required considering the nature of the pre-Native Title mining licences.<\/p>\n<p>The exploration target area falls within mining licences M15\/0468 and M15\/0217, covering ~40% of the tenements and therefore no need for additional mining or exploration licences to validate the exploration target.<\/p>\n<p>TOR is currently conducting metallurgical work due for completion this quarter and has engaged in a drilling campaign that aims to test some of the portions of the exploration target.<\/p>\n<p>The company also intends to continue drilling activities throughout 2024.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Torque Metals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/torque-metals-defines-exploration-target-inside-just-two-of-its-12-new-dawn-lithium-exploration-licences\/\">Torque Metals defines exploration target inside just two of its 12 New Dawn lithium exploration licences<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Torque Metals has defined an 8-14Mt @ 1.0-1.2% Li2O exploration target its for New Dawn lithium project 5,000m of RC drilling completed with 1,000m of <a href=\"https:\/\/economicherald.net\/?p=5569\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5570,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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