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Torque Metals (ASX: $TOR) completes project acquisition, commences lithium drill campaign

Overview of Torque Metals' recent acquisition and exploration activities


Torque Metals Limited (ASX: $TOR) has successfully completed the acquisition of an extensive package of tenements, establishing the Penzance Exploration Camp. The company has commenced an RC drill campaign at the New Dawn Lithium Project to expand the scale of spodumene lithium bodies. The acquisition covers approximately 800km2 across various mining, prospecting, and exploration licenses in the Western Australian Goldfields region. The RC drill campaign aims to extend the lithium mineralized pegmatites and is expected to comprise 4,000m of RC drilling and 1,000m of diamond drilling.

Executive commentary on the recent developments and strategic positioning


Torque's Managing Director, Cristian Moreno, expressed satisfaction with the completion of the acquisition, emphasizing the strategic location of the Penzance Exploration Camp in proximity to established industry players. Moreno highlighted the swift initiation of the drilling campaign at New Dawn, focusing on extending the spodumene lithium pegmatites discovered during the due diligence period. He further emphasized Torque's position as a key player in the exploration province, with a steady flow of exploration news expected in the coming months.

Summary of Torque Metals' recent activities and future plans


Torque Metals has successfully acquired a significant tenement package and commenced an extensive drilling campaign at the New Dawn Lithium Project. The company's strategic location near established industry producers and explorers positions it favorably for potential asset development. With upcoming milestones such as the release of a maiden exploration target and RC drilling results, Torque aims to solidify its presence in the dynamic exploration province. The company continues to evaluate and pursue opportunities in line with its strategy to develop high-quality assets, presenting a positive outlook for its future endeavors.

Sourcehttps://announcements.asx.com.au/asxpdf/20240117/pdf/05zhklr3g2tt69.pdf

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