Torque Metals Reports 67% Increase in Mineral Resource Estimate for Western Australia Gold Deposit; Shares Fall 14%

MT Newswires Live12:40

Torque Metals (ASX:TOR) reported an updated mineral resource estimate for its Paris gold deposit in Western Australia of 253,000 ounces at 3.8 grams per tonne grade of gold, up 67% from a September 2024 estimate, according to a Tuesday filing with the Australian bourse.

The Paris deposit's open pit contained ounces increased by 39% to 156,000 ounces of gold in 2026, while its underground contained ounces jumped 144% to 97,000 ounces, per the filing.

The company reported the update as part of a global resource of 351,000 ounces at 3.1 g/t for the Paris gold project, where an expanded exploration campaign is now underway.

"The Paris deposit now forms nearly 72% of the global resource at the Paris gold project," said Torque Metals CEO Craig Jones.

The company's shares fell 14% in recent Tuesday trade.

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