TOR has secured the highly prospective Panama gold property in North Eastern Tasmania
The new publicly traded resource company is expected to focus on New Zealand and Australia, particularly in TOR’s assets which include both gold and tin projects and range from resource stage to highly prospective grassroots exploration grounds.
“TOR has secured the highly prospective Panama gold property in North Eastern Tasmania, which will serve as the qualifying property for the company. The Panama acquisition was a very important addition to the TOR portfolio given the enthusiasm for Eastern Australian gold exposure with the prospective ground being no longer available in either Victoria or over the geological extensions into Southern NSW,” the media brief states. “TOR has also identified the Otago goldfield in New Zealand as the next stand-out region for gold exploration and has recently applied for four permits in the region.”
According to Lamaska, TOR also holds two tin licences in Tasmania that are mature and include well-developed track networks on each licence area.
“Substantial exploration upside exists on both project areas outside known resources due to effectively no modern exploration having been conducted on the licences, an abundance of historic workings exist which are yet to be exploration tested using state of the art tools and techniques and the likely discovery of additional deposits through the use of modern exploration methods and tools,” the statement reads.
