Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
headless shoulders (to cry on)
TOR - Torque Metals
- Thread starter System
- Start date
-
- Tags
- tor torque metals
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
up 45 per cent on Friday on stunning news (deep irony). Maybe it was oversold?
The quarterly moved the dial not one smidge.
.
Assay results are imminent for three diamond holes already drilled at the project, and assay results from the RC drill holes are expected in mid-November.
“With two drilling rigs now active at New Dawn, the pace and intensity of the exploration effort has been significantly accelerated .
“Torque’s move to speed up its due diligence assessment reflects the company’s growing confidence in the project’s promise.”
The quarterly moved the dial not one smidge.
.
Assay results are imminent for three diamond holes already drilled at the project, and assay results from the RC drill holes are expected in mid-November.
“With two drilling rigs now active at New Dawn, the pace and intensity of the exploration effort has been significantly accelerated .
“Torque’s move to speed up its due diligence assessment reflects the company’s growing confidence in the project’s promise.”
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
and cranking up the balance sheet
... the Company requests that the trading halt remains in place until an announcement is made relating to the capital raising,
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
and not too hefty a discount.
Torque has received firm commitments for a share placement to raise a total of $3.75 million (before costs) through the issue of approx. 28.85 million shares at an issue price of $0.13 per fully paid ordinary share. Investors will receive one (1) attaching unlisted option for every two (2) new Placement Shares issued pursuant to the Placement. The Placement Options will be exercisable at $0.25, each with an expiry date of 7 May 2026
now 13c
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
getting results
TOR is pleased to announce that extension drilling has concluded, assay results are imminent, and a new drilling phase is being planned, at its wholly owned flagship Paris Gold Project, located Southeast of Kalgoorlie on the gold rich Boulder-Lefroy Fault Zone.
Highlights
• ~10,000m of RC and Diamond drilling concluded at Paris Gold Project. Assay results imminent.
• Programme successfully extended mineralisation previously identified by Torque.
• Geological findings suggest not only east-west mineralised structures but also north-south connectivity between previous discoveries Paris, Observation, HHH and Eva.
• The Paris Gold Project reveals potential to host multiple deposits within a larger mineralised system characterised by parallel structures (2.5km by 1km and open) and splays under the control of the Boulder
Lefroy System.
• Drill for equity agreement between Torque and Topdrill expanded. 100% of drilling costs invoiced by Topdrill to be paid in ordinary shares, revised up from $500,000 to $700,000, with a voluntary 6-month escrow period on the shares issued.
• Torque is devising a follow-up, shallow RC drill program to test ground at Observation for a potential open pit mine development.
Torque’s Managing Director, Cristian Moreno comments:
“Torque’s RC and Diamond drilling program was increased in scale from ~6,500m to ~10,000m, and aimed to extendhigh-grade gold structures where Torque previously reported notable intercepts such as 35m @ 14.12 g/t gold, 41m @ 5.93 g/t gold, 39m @ 6.05 g/t gold, 27m @ 10.7 g/t gold, and 27m @ 8.16 g/t gold.
“Solid geological findings to date suggest not only east-west mineralised structures are present in the system, but also north-south connectivity between previous discoveries at Paris, Observation, HHH, and Eva prospects, generating mining scale and significant growth options.
“We are grateful to Topdrill for their conviction and support of the Paris drill program, as demonstrated by the expansion of the scale of the drill program, and the size of Topdrill’s investment in Torque will grow to $700,000.
“In Paris, metallurgical tests show strong gravity and cyanide leaching recoveries with 40% gold recovery via gravity concentration. With low-cyanide consumption leaching, Paris at 0.43kg/t and Observation at 0.165kg/t, Paris achieves 96.79% and Observation reaches 99.7% gold recoveries.
“Beyond its geological attraction, Paris Gold Project boasts proximity to infrastructure, sharing a thoroughfare with major gold producers such as Gold Fields Limited, Northern Star, and Karora Resources optimising logistical aspects and its mining licences expediting a pathway to production.”
TOR is pleased to announce that extension drilling has concluded, assay results are imminent, and a new drilling phase is being planned, at its wholly owned flagship Paris Gold Project, located Southeast of Kalgoorlie on the gold rich Boulder-Lefroy Fault Zone.
Highlights
• ~10,000m of RC and Diamond drilling concluded at Paris Gold Project. Assay results imminent.
• Programme successfully extended mineralisation previously identified by Torque.
• Geological findings suggest not only east-west mineralised structures but also north-south connectivity between previous discoveries Paris, Observation, HHH and Eva.
• The Paris Gold Project reveals potential to host multiple deposits within a larger mineralised system characterised by parallel structures (2.5km by 1km and open) and splays under the control of the Boulder
Lefroy System.
• Drill for equity agreement between Torque and Topdrill expanded. 100% of drilling costs invoiced by Topdrill to be paid in ordinary shares, revised up from $500,000 to $700,000, with a voluntary 6-month escrow period on the shares issued.
• Torque is devising a follow-up, shallow RC drill program to test ground at Observation for a potential open pit mine development.
Torque’s Managing Director, Cristian Moreno comments:
“Torque’s RC and Diamond drilling program was increased in scale from ~6,500m to ~10,000m, and aimed to extendhigh-grade gold structures where Torque previously reported notable intercepts such as 35m @ 14.12 g/t gold, 41m @ 5.93 g/t gold, 39m @ 6.05 g/t gold, 27m @ 10.7 g/t gold, and 27m @ 8.16 g/t gold.
“Solid geological findings to date suggest not only east-west mineralised structures are present in the system, but also north-south connectivity between previous discoveries at Paris, Observation, HHH, and Eva prospects, generating mining scale and significant growth options.
“We are grateful to Topdrill for their conviction and support of the Paris drill program, as demonstrated by the expansion of the scale of the drill program, and the size of Topdrill’s investment in Torque will grow to $700,000.
“In Paris, metallurgical tests show strong gravity and cyanide leaching recoveries with 40% gold recovery via gravity concentration. With low-cyanide consumption leaching, Paris at 0.43kg/t and Observation at 0.165kg/t, Paris achieves 96.79% and Observation reaches 99.7% gold recoveries.
“Beyond its geological attraction, Paris Gold Project boasts proximity to infrastructure, sharing a thoroughfare with major gold producers such as Gold Fields Limited, Northern Star, and Karora Resources optimising logistical aspects and its mining licences expediting a pathway to production.”
- Joined
- 12 January 2008
- Posts
- 7,176
- Reactions
- 17,762
. . . and more results showing more gold, even at shallow levels. Gold beautiful gold. But wait, the share price tanks?
TOR weekly chart showing the response to the earlier good drill results, the anticipation while drilling continues, then today's results.
TOR weekly chart showing the response to the earlier good drill results, the anticipation while drilling continues, then today's results.
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
and found a way to pay for more reveals?
Announced the execution of a drill for equity agreement with Topdrill Pty Ltd to deliver a drill campaign which aims to expand gold mineralisation at its wholly owned flagship Paris Gold Project, located Southeast of Kalgoorlie.
HIGHLIGHTS
• Torque and Topdrill have formally executed an equity drill agreement whereby 50% of drilling costs invoiced by Topdrill are to be paid in ordinary shares, with a voluntary 6-month escrow period.
• The focus of upcoming activity will be a campaign of ~9,000m (~1,000m Diamond, ~8,000m RC) in-fill and extensional drilling, to build upon recent results, including:
✓ 16m @ 4.19 g/t gold from 66m, including 2m @ 13.12 g/t gold from 72m and 2m @ 18.91 g/t gold from 80m in 24HRC087
✓ 35m @ 14.12 g/t gold from 157.85m including 1.2m @ 185 g/t gold from 174.7m; 4.44m @ 20.82
g/t gold from 170.3m and 2.49m @ 40.6 g/t gold from 167.8m 23PRCDD076
✓ 41m @ 5.93 g/t gold from 188m including 3m @ 25.54 g/t gold from 189m; and 2m @ 59.35 g/t gold from 204m 22PRC056
✓ 39m @ 6.05 g/t gold from 175m including 9m @ 10.66 g/t gold from 178m; and 3m @ 29.4 g/t gold from 202m 22PRC053
• Torque’s crew have mobilised to site in preparation for works; drill campaign to commence mid-July
• Progress on Paris Gold Project MRE is being made, with the impending drill programme intended to increase the Paris resource
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
.
and the motto of our Olympic team
Citius - Altius - Fortius
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
close to the lows for the year at 11.5c, but there's optimism in the headlines
ROBUST FIRST ITERATION OF RESULTS FROM DIAMOND DRILLING AT PARIS GOLD PROJECT, RC DRILLING UNDERWAY
ROBUST FIRST ITERATION OF RESULTS FROM DIAMOND DRILLING AT PARIS GOLD PROJECT, RC DRILLING UNDERWAY
Dona Ferentes
A little bit OC⚡DC
- Joined
- 11 January 2016
- Posts
- 15,195
- Reactions
- 20,624
and now, 10c.
Mineral Resource Estimate for its 100%-owned Paris Gold Project.
...Located on granted Mining Licences, in the resource-rich West Australian Goldfields; and neighbouring several processing plants (including) St. Ives and Higginsville – owned by producers Gold Fields and Westgold.
HIGHLIGHTS
• MRE completed for Paris Gold Project, located on granted Mining Licences:
2,518Kt @ 3.1g/t gold for 250,000 ounces, comprising:
o 1,094Kt @ 4.3g/t gold for 152,000 ounces – Paris Deposit
o 1,145Kt @ 2.0g/t gold for 73,000 ounces– HHH Deposit
o 279Kt @ 2.8g/t gold for 25,000 ounces – Observation Deposit
• Resource Classification breakdown for Paris Deposit includes:
284Kt @ 3.7g/t gold for 34,000 ounces (22%) classified as Indicated and 810Kt @ 4.5g/t gold for 118,000 ounces (78%) classified as Inferred.
• Resource Classification breakdown for HHH Deposit includes:
97Kt @ 3.3g/t gold for 10,000 ounces (14%) classified as Indicated and 1048Kt @ 1.9g/t gold for 63,000 ounces (86%) classified as Inferred.
• Resource Classification breakdown for Observation Deposit includes:
225Kt @ 2.7g/t gold for 19,000 ounces (76%) classified as Indicated and 54Kt @ 3.5g/t gold for 6,000 ounces (24%) classified as Inferred.
• Paris MRE is a shallow, high-recovery gold resource (>96%), with open-pit mining potential (190,000 ounces @ 2.9g/t open pit, 60,000 ounces @ 3.8g/t underground) based on a gold price of A$3,000/ounce.
• Paris MRE pertains to only 2.5km² tested of the 350km² area controlled by Torque, with mineralisation open in all directions, strong signs of linking structures and mineralisation identified both outside and next to resource area presenting strong potential for growth through further exploration.
TORQUE’S FORWARD STRATEGY:
• Plans to drive resource growth by testing strike extensions, interlinking structures, and depth potential.
• Torque plans to commence a Scoping Study to investigate a toll-treat value proposition for Paris.
• Torque to conduct drilling activities in its tenements adjacent to world-class deposits, such as Invincible, St. Ives, Beta Hunt, and Mount Belches Mining Centre among others.
