Torque Metals to Acquire WA Gold and Lithium Tenements

THE BOURSE WHISPERER: Torque Metals (ASX: TOR) is to acquire 100 per cent of an extensive and strategic package of tenements with gold and lithium potential in the Goldfields region Western Australia.

Torque Metals declared the option agreements to be consistent with the company’s stated strategy to consolidate further highly prospective ground in the vicinity of its Penzance Exploration Camp, which contains the New Dawn lithium and Paris gold discoveries.

The company explained that part of the tenement package is located west of Horse Rocks where Lord Resources has a binding farm-in agreement with Mineral Resources and has identified multiple stacked pegmatite swarms, displaying extensive fractionation.

These tenements have been interpreted to share similar geological characteristics and structural setting to the Kangaroo Hills and Mt Marion lithium projects, being dominantly on greenstone belts with an adjacent intrusion.

Tenements in the Spargoville region are considered by Torque to have potential for gold and lithium mineralisation, sharing tenement boundaries with Kali Metals and Marquee Resources.

Torque has also applied for further tenements, which subject to grant to Torque, is expected to allow Torque to expand its New Dawn lithium project to areas where Arcadium Lithium and Mineral Resources are major tenement holders.

“Torque is pleased to announce the options, which pave the way for a significant expansion of its presence in the WA Goldfields through the acquisition of multiple titles with gold and lithium potential, which upon transfer to Torque will increase Torque’s project aggregation to approximately 1200 square kilometres, thereby establishing it as a major high-quality tenement holder in the region,” Torque Metals managing director Cristian Moreno said in the company’s ASX announcement.