WELCOME TO TORQUE MINING LTD
An emerging gold producer in Tasmania
Torque Mining Limited is a gold exploration and mine development company that has a portfolio of projects in Tasmania with the scale and diversity to provide a continuously active exploration program with early production opportunities.
The Company’s key objectives are:
- To focus on the development of its advanced gold exploration projects in Tasmania and to achieve near term gold production in mid 2013.
- To continue gold exploration using advanced exploration techniques that Torque believes could lead to major discoveries in the near future ($9 million has been spent on exploration in Tasmania to date).
- To develop strategic partnerships to support the Company’s project development and generate early cash flows.
Torque Mining Highlights
- Torque is gold focussed and through the BCD Resources joint venture, Torque expects to receive a cash flow from gold mining by mid-2013 (subject to Feasibility Study and various Governmental approvals).
- Torque controls most of Moina Mineral District in Northern Tasmania which contains gold, silver, tungsten, molybdenum, lead and zinc. Moina has never been comprehensively explored.
- Other Torque projects include the SMRV silver, lead/zinc, gold project, Mt Paris Tin Project, and Lower Pieman Projects.
- The Narrawa and Stormont prospects within the Moina Project have 42,000 ozs in gold equivalent JORC resources.
- Indicated Resources are 313,000t at 2.49g/t gold, plus credits in bismuth, lead, zinc, and silver. Contained metal is 25,058ozs gold, 125,811ozs silver, 256t bismuth, 2,311t lead and 1,953t zinc.
- Inferred Resources are 46,574t at 2.07g/t gold. Contained metal is 3,100ozs gold, 456t lead, 377t zinc and 23,961ozs silver.
- Torque’s $600,000 3DIP survey in 2012 defined the present resources at Moina and many possible new gold targets. Not previously conducted by explorers in the district, the survey’s results were highly encouraging and drilling is now in progress.
- The Joint Venture with BCD Resources NL is expected to treat the Stormont deposit through the Beaconsfield gold recovery plant for recovery of 11,000 ozs gold with bismuth as a possible bi-product.
- Exploration on Torque’s major projects is at advanced or development stage.
- Funds raised from the cash flow generated from the BCD JV, will be used on feasibility studies, mine development and drilling at Moina.
- The Moina Project can be compared to the development of Newcrest’s Cadia project in NSW which was developed from a few small resources/mines to a major mining district.