So, two months ago, Torque Metals acquired multiple tenements in the Goldfields region.
Particularly one of those tenements is called the New Dawn Lithium Project. In fact, two mining licenses, pre-native titles.
So, we announced the potential acquisition of this project. And the reaction of the market was extremely positive. Because of the nearology with the Bald Hill Lithium Mine.
What is Bald Hill lithium mine? Bald Hill mine is a mine that was bought by Mineral Resources. It has a lithium resource of 26Mt lithium, 1% according to their web page. And because this particular project is located 600 meters towards the west, well, the market reacted very, very well.
And the reason why Torque Metals managed to do the transaction was because of the positive relations with the vendors. Difficult, of course, it took a while, but at the end of the day, well, here we are, and everything is going super, super well.
All the tenements are located in the Goldfields region, nearby the Paris gold project. It’s a regional consolidation with multiple commodities, nickel, gold and lithium. And we are ready to explore. So, after we announced the acquisition of the project, Torque Metals went straight to drilling. We intersected multiple vertically stacked pegmatites that we have in our conceptual model. Some of them, they were mineralized and the grade was very, very good. The thickness was positive, but, well, it’s not what the market was expecting.
Later on, we drilled RC drilling, we drilled 19 RC drill holes. And I think that 90 or 80% of them came back with extremely good mineralization.
So, Torque Metals is extremely happy about these intersections. We are demonstrating the potential scale of the project, the potential continuity with the Bald Hill mineralization. And we are demonstrating as well that we have mineralization with the spodumene.
So, our conceptual model is telling us that the pegmatites are continuous. They are open towards the north, towards the south and towards the west, and also towards our neighbour, Bald Hill lithium mine.
The company is preparing additional news that will be released to the market as soon as they become available. So please keep supporting us. And for those who have been with us since the beginning, thank you very much for your support.