IPO - Torque Metals Limited, page-2

FULL ARTICLE from miningnews.net:

Torque bullish on Bullfinch potential;

IAN Finch, founder of companies including Trafford Resources, Tyranna Resources, IronClad Mining, and Bannerman Resources, is back in the saddle as the titular head of a new Western Australian gold explorer: Torque Metals Limited

The explorationist, who has almost five decades of experience under his belt, is re-teaming with his long-time finance officer Neil McKay. Non-executive former banker Tshung Chang rounds out team Torque. All three are founders of the company and have privately funded the initial exploration programs.

Torque's focus is on a patch of ground at Bullfinch, immediately east of the 1.5 million ounce Copperhead gold mine, close to Minjar Gold's Cornishman and Axehandle deposits and the Catherine prospect.

Founded in August 2017, Torque secured the Bullfinch project, about 40km outside Southern Cross, from Talga Resources in June, and in September secured an additional 220sq.km of tenements under its own right for a total of more than 630sq.km.

Talga, which these days is focused on energy minerals, was paid around A$270,000 for the leases and has a 1% option over any gold produced beyond the first 5000oz.

The Southern Cross/Bullfinch district has yielded over 15Moz to date, and Torque's team believes there's more gold to be found.

Gold was first discovered in the area in 1887, and despite significant recorded gold production within a 100km radius of the project area, local gold production was dominated by Copperhead, which commenced production in 1910 and closed in 1997.

Torque says few modern exploration techniques have been used in the area and it is seeking to raise between $4.5-7 million with a plan to spend up to $4 million on exploration over the first two years.

It will initially seek to identify near-surface gold structures it considers likely to exist based on a review of historical exploration activities, before moving into drilling and sampling.

Because gold in the area could be nuggetty, bulk sampling may be required, and the nearby Marvel Loch mill, located 65 km to the south, has been a likely destination for any material given it has spare capacity.

Torque has identified around 200 walk-up targets comprising several style of mineralisation, including an emerging gold-tellurium-bismuth prospect at Jumbuck where rock sampling has returned highest values to date: 34.6 grams per tonne gold with 107.5gpt tellurium.

A tellurium-bismuth geochemical signature is a relatively rare but significant character of some large gold deposits, Torque says, and tellurium sulphides have also been recorded from granitoid gneissic-hosted gold deposits in WA such as Tropicana.

Other promising prospects include Harold Holt, where some of the most significant gold grades have been returned, plus Copperhead East and Wither's Find South.

Torque has undertaken limited drilling and has expanded the area of the gold-tellurium potential, however the source of the surface anomalism remains unexplained.

One of Torque's early plans after listing is to expand a soil geochemistry program that covers a 14km by 12km area in the north of its leases, which revealed several anomalies.

Source: https://www.miningnews.net/…/torque-bullish-on-bullfinch-po…?