Torque Metals (TOR) outlined its growth plan for the Ritz Gold Project during the Resources Rising Stars conference on the Gold Coast. The company, which holds a district‑scale land package of more than 1,000 km² within an hour of Kalgoorlie, aims to reach a cumulative 1 million ounces of gold under its "Rapid Path to 1 million ounces" (RPM) strategy.
At the end of June, Torque Metals reported approximately AUD 13 million in cash and a market capitalisation of around AUD 140 million. The firm's current ratio stands at 4.72, while its last‑twelve‑months earnings per share are a negative $0.01. Shares have fallen 8.3% over the past week and about 41% in the last six months, and InvestingPro lists the stock as overvalued relative to its fair value.
The Ritz Gold Project’s total indicated resource is 351,000 ounces at just over 3 g/t. The Paris deposit contributes the bulk, with 251,000 ounces at roughly 4 g/t, based on a resource update released in early July – the first in 18 months following the arrival of the current management team in May 2024. Metallurgical testing indicates a fresh‑material recovery rate of about 96%.
High‑grade results continue to emerge. At the HHH prospect, drill holes intersected 11 m grading 456 g/t and a separate intercept of 3,625 g/t in fresh material, described as a surprise find outside the existing resource envelope. The Observation prospect returned 30‑g/t m intercepts about 60 m below the current resource, while the Strauss prospect shows shallow mineralisation extending to 130 m depth over a 250‑m strike. Historical work at Maynards yielded 4 m at 21 g/t, and Marmaracs remains untested since 1984.
Under RPM, more than half of the planned drilling effort will target new discoveries, with the remainder focused on expanding known resources. The company intends to drill over 70,000 m using reverse‑circulation and diamond rigs across a 57‑km strike length along the greenstone belt.
Future catalysts include multiple resource updates slated for the first quarter of next year, covering the Paris and Observation deposits, and ongoing results from the extensive drilling programme.
Torque Metals’ strategy hinges on converting its extensive land package and recent high‑grade intercepts into a sizable, economically viable gold resource, positioning the firm for potential scale‑up in the South Kalgoorlie district.
