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Torque Metals Says Drilling Results Continue to Extend Mineralization at Western Australia Gold Project; Shares Fall 5%

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-- Torque Metals (ASX:TOR) continued to extend mineralization at its Paris gold deposit in Western Australia in the March quarter following the receipt of drill results, including 20 meters at 5.79 grams per tonne grade of gold from 222 meters, according to a Tuesday filing with the Australian bourse.

Additional diamond drilling is planned to better define new high-grade shoot boundaries at the site, and an interim mineral resource estimate update for the Paris project is scheduled for the second quarter, the company said.

Torque Metals ended the March quarter with a cash balance of about AU$12.2 million, which the company said puts it in a "strong capital position" to support ongoing multi-rig drilling.

The company's shares fell 5% in recent Tuesday trade.

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