Why this little-known ASX gold share is leaping 28% on Wednesday

The All Ordinaries Index (ASX: XAO) is up 0.3% in morning trade, with one junior ASX gold share leaving those gains in the dust.

The fast-rising gold stock in question is Torque Metals Ltd (ASX: TOR). The miner is focused on its 1,200 square kilometre Paris Exploration Camp, located in Western Australia.

Torque Metal shares closed yesterday trading for 37.0 cents. In earlier trade on Wednesday, shares just leapt to 47.5 cents each, up 28.4%. After some likely profit taking, in later morning trade, shares are changing hands for 46.25 cents apiece, up 25.0%.

Here’s what’s capturing investor interest in the ASX gold share today.

ASX gold share rockets on leadership team

The Torque Metals share price is going through the roof after the miner announced the appointment of a “proven” Western Australian gold discovery and development team.

The new leadership team is comprised of Simon Lawson as chairman-elect, Craig Jones as CEO (effective immediately) and managing director-elect, and David Coyne as non-executive director-elect.

The three men were said to have a strong track record of delivering “major exploration and development success” in the Western Australian gold sector.

Indeed, they each held key roles at Spartan Resources, helping drive significant high-grade gold discoveries at the Dalgaranga Gold Project. This in turn eventually saw Spartan grown from a junior ASX gold share to a major developer. Then, in July 2025, Spartan entered into a $2.5 billion merger with Ramelius Resources Ltd (ASX: RMS).

The board believes the new leadership team can work similar wonders at Torque’s Paris Gold Project

What did management say?

“We are excited to bring together a team that has previously worked successfully together at Spartan Resources and to apply that same discovery-focused mindset at Torque Metals,” incoming chairman Simon Lawson said.

Lawson continued:

We see substantial potential at the Paris Gold Project and across Torque’s 1,200km² land holding. The project’s location near Kalgoorlie places it in the one of the world’s great gold districts, while its geology is amenable to low-cost electromagnetic targeting of high-grade gold shoots – a characteristic shared by only a few gold systems globally.

Incoming managing director Craig Jones said the ASX gold share has “highly prospective” assets. He noted:

Torque Metals presents a compelling opportunity. The company holds a highly prospective project portfolio, and we are now enhancing with individuals who have a proven track record of delivering discovery and development success in Western Australia.

Outgoing chairman Evan Cranston concluded, “Good projects attract good people. Great projects attract great teams and Torque has attracted one of the best teams in the gold business.”

With today’s intraday gains factored in, the ASX gold share is up a whopping 414% since this time last year.

The post Why this little-known ASX gold share is leaping 28% on Wednesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.