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Torq Resources Inc. reports company developments tied to copper and gold exploration in Chile, with recurring updates on the Santa Cecilia gold-copper porphyry project in the Maricunga belt. News items include drilling results, target work at Pircas Norte and Gemelos Norte, project planning, and earn-in activity involving Gold Fields.
Company announcements also cover portfolio decisions, including the terminated Margarita project option and retained La Cototuda concession, as well as financing matters such as credit facility extensions and warrant terms. Governance updates include annual meeting voting results and shareholder matters for the TSXV- and OTCQB-traded exploration issuer.
Torq Resources Inc. has initiated exploration on its Margarita Iron-Oxide-Copper-Gold (IOCG) project in northern Chile, located 65 km from Copiapo. The surface exploration aims to establish drill targets, with the first drilling program expected in Q3 2021. The three-month program includes geological mapping and a property-wide induced polarization survey. Upon completion, the company will apply for a drill permit to access 39 drill platforms. The project presents a significant opportunity for major copper-gold discoveries in a region known for its mineral wealth.
Torq Resources Inc. (OTCQX:TRBMF) announced the grant of incentive stock options for 420,000 common shares to its officers at an exercise price of C$0.77, expiring in five years, pending customary stock exchange approvals. The company, focused on mineral exploration, is advancing the recently acquired Margarita iron-oxide-copper-gold project in Chile to drill stage. With over $550 million raised by its management team from previous ventures, Torq is actively seeking new mineral targets for acquisition and exploration.
Torq Resources Inc. (OTCQX:TRBMF) announced the acquisition of the Margarita Iron-Oxide-Copper-Gold project in Chile, situated 65 km north of Copiapo. The property, covering ~1,045 hectares, is near significant IOCG mines and indicates potential for large-scale copper sulphide deposits. Initial exploration has identified an exploration target of 20-35 million tonnes of copper oxide mineralization at grades of 0.2-0.5%. The company plans rapid advancement to drilling this year, supported by a multi-phase investment totaling $6.2 million for project development.