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Torque appoints new CEO to drive goldfields push

Junior gold explorer Torque Metals is ushering in a new era of exploration after appointing Cristian Moreno as the company’s new CEO. Moreno specialises in ‘innovative and disruptive’ exploration technology, techniques that will be bolstered with an extra $3 million tipped into the till courtesy of a recent share placement earmarked to accelerate the company’s WA exploration efforts.

Moreno, in his role as senior geoscientist, is already a seasoned traveller at the company’s flagship Paris project steering Torque’s recent success with the drill bit, along with discovering a series of intriguing electromagnetic anomalies considered highly prospective for hosting nickel sulphide mineralisation.

With over five year’s international experience, Mr Moreno has served in variety of roles including as a technical specialist for gold exploration and mining companies as well as diversifying into the oil and gas industry.

Most recently, he held the role of Project Geologist for Australian gold producer RED5 Limited and was previously geophysical and geological manager of non-seismic-services as well as exploration geologist for BGP Inc., China National Petroleum Corporation.

The walls of Mr Moreno’s office will attest to his numerous credentials including a high distinction in Masters of Science majoring in Geophysics from Curtin University, a Bachelor of Science with First Class Honours in Geology and Bachelor of Engineering with First Class Honours in Agricultural Engineering both from the National University of Colombia.

Mr Moreno also specialises in the emerging field of advanced machine learning in order to process new and existing geoscientific data, a skill set the new CEO is developing in conjunction with undertaking a Masters of Science majoring in statistics and data science from KU Leuven University.

Torque has barely rested the drill bit since listing on the ASX in June last year, tallying up a list of shallow high-grade gold hits over its highly prospective tenure that lies along strike and in the same Boulder-Lefroy fault corridor as the 20 million ounce-plus gold endowed Kalgoorlie Super Pit.

Recent hits from Torque’s plethora of prospective targets include an eye-catching 24 metres returning 10.7 grams per tonne gold from 141m down hole that contained a 6m core returning 34.6g/t of the precious yellow metal confirming an extensive gold corridor between the historical Paris and HHH pits.

Other notable shallow intercepts include 9m at 11.52g/t gold from 63m at the Observation discovery, 12m going at 1.21g/t gold from 57m at the Strauss prospect and an encouraging 15m returning 3.12g/t gold from 15m at the recent Caruso discovery.

The Paris gold project remains strangely under explored with past drilling generally restricted to the top 50m despite being surrounded by a powerful pedigree of behemoth deposits that also includes Goldfields’ St Ive’s gold project and the Northern Star’s Kanowna Belle project that hosts over 7 million ounces of gold.

The newly minted CEO, Mr Moreno’s exploration budget has also received a shot in the arm with the latest share placement.

Fifteen million new shares are to be issued at $0.20 as part of the placement to raise the $3 million and they come gift wrapped with a one for two option with a strike price of $0.30 and an expiry date that is 18 months away.

Our ongoing RC drilling campaign continues to return strong results, enhancing our model for a large-scale and high-grade gold corridor at the Paris project. Additionally, recent EM surveying and reprocessing of historical results has increased the potential for our ground to host nickel mineralisation and further work is planned to investigate this opportunity.

The new capital will be pumped into the company’s Paris project along with accelerating exploration at the Bullfinch gold project located in the lucrative Southern Cross gold mining centre.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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