Torque Metals Ltd (ASX:TOR) has moved swiftly on a lithium drilling campaign at the New Dawn Lithium Project after completing the acquisition of an extensive package of tenements in Western Australia dubbed the Penzance Exploration Camp.
The new package covers 800 square kilometres across 12 pre-Native Title mining licences as well as four prospecting and 26 exploration licences (seven under application) close to Kalgoorlie in the heart of the WA Goldfields.
TOR has already begun reverse circulation (RC) drilling at New Dawn, seeking to extend a 35-metre section of spodumene (hard rock lithium) mineralisation in multiple directions.
Prime location, “significant” potential
“We are pleased to announce completion of the acquisition of the Penzance tenement package, encompassing the New Dawn Lithium Project, strategically located 600 metres west of the active Bald Hill Lithium mine in WA,” Torque Metals managing director Cristian Moreno said.
“Torque’s extensive Penzance Exploration Camp is near to industry-leading producers: Mineral Resources, Gold Fields, Karora Resources, and explorers such as Kali Metals and Lunnon Metals, showcasing Torque's prime location and significant asset potential.
“Torque has moved swiftly to initiate a post-acquisition drilling campaign at New Dawn, focused on extending the scale of spodumene lithium pegmatites encountered in our recent drilling.
“The program aims to expand the presence of stacked pegmatites, including 10 metres at 1.51% lithium, 15 metres at 1.17% lithium, and 10 metres at 1.15% lithium.
“These pegmatites can potentially be extended in multiple directions, according to Torque’s geological model.
“Torque's acquisition and ongoing exploration activities solidify its position as a key player in this dynamic exploration province, with steady exploration news flow expected over the coming months."
The camp sits in a highly prospective region with multi-element potential, close to producing mines such as the Bald Hill and Mt Marion lithium mines, the St Ives Gold Mine and the Beta Hunt Gold and Nickel Mine.
All in all, the company intends to drill 4,000 metres of RC drilling and a further 1,000 metres of diamond drilling in this campaign.