Torq Commences Drilling at Santa Cecilia and Announces Board Change

Rhea-AI Summary

Torq Resources (TRBMF) has initiated drilling operations at its Santa Cecilia gold-copper project in Chile's Maricunga belt. The project, located 100km east of Copiapo and near Newmont and Barrick's Norte Abierto project, will focus on the Pircas Norte and Gemelos Norte targets.

Previous drilling revealed significant mineralization, including 120 metres of 1.33 g/t gold and 0.096% Copper in hole 24SC-DDH-005, and 498m of 0.36 g/t gold and 0.08% copper in hole 24SC-DDH-003. The current program will comprise 5-7 drill holes for approximately 4,000m using two drill rigs, funded by Gold Fields' initial USD$6 million commitment.

The Pircas Norte target features mineralized porphyry copper outcrops with a gold-copper-molybdenum soil anomaly covering 600m by 600m. Notable findings include high-grade quartz veins with samples returning up to 47.90 g/t gold.

Positive

• Significant gold-copper mineralization discovered: 120m of 1.33 g/t Au and 0.096% Cu
• Secured USD$6M funding commitment from Gold Fields
• High-grade gold intercepts up to 47.90 g/t Au in quartz veins
• Strategic location near Newmont and Barrick's Norte Abierto project

Negative

• None.

VANCOUVER, BC / ACCESS Newswire / February 27, 2025 / Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to announce the commencement of drilling at its Santa Cecilia gold - copper project located in the world-class Maricunga belt in northern Chile, approximately 100 kilometres (km) east of the city of Copiapo. The Santa Cecilia project is in the vicinity of the Norte Abierto project, held by Newmont and Barrick, which is comprised of the Caspiche and Cerro Casale gold - copper porphyry deposits (Figure 1). The planned drilling will focus on the Pircas Norte and Gemelos Norte targets, where the Company intercepted broad gold and copper mineralization including 120 metres (m) of 1.33 g/t gold and 0.096% Copper in drill hole 24SC-DDH-005; 498m of 0.36 g/t gold and 0.08% copper in drill hole 24SC-DDH-003; and 98m of 0.18 g/t gold and 0.043% copper in drill hole 24SC-DDH-004 (See news releases dated May 23 and April 18, 2024) (Figure 2). Importantly, both drill holes at Pircas Norte, 24SC-DDH-005 and 24SC-DDH-003, ended in mineralization and the reported intercepts remain open, thus one of the primary goals of the current program will be to extend drill hole 24SC-DDH-005 (Figure 3). The program will comprise five to seven drill holes for approximately 4,000m utilizing two drill rigs (Figure 2) as part of Gold Fields' initial USD$6 million funding commitment to the project.

A Message from Shawn Wallace, CEO:
"The commencement of drilling at Santa Cecilia after completion of the JV agreement with an affiliate of Gold Fields is a pivotal moment for Torq and for the Santa Cecilia property. Armed with adequate capital resources, we now can explore this highly prospective gold and copper project with the intensity that it requires. 2025 will be an exciting year for all shareholders and stakeholders as we, together with our partner attempt to aggressively unlock the value that we believe exists at Santa Cecilia."

Figure 1: Santa Cecilia Project Location in the Maricunga belt in relation to Newmont and Barrick's Norte Abierto joint venture.

Figure 2: Proposed drilling at Pircas Norte and Gemelos Norte targets.

Figure 3: The reported intercept from drill hole 24SC-DDH-005 remains open. One of the first steps for the current campaign will be to extend this hole.

Additional Discussion
The Pircas Norte target is characterized by mineralized porphyry copper outcrops with an overlying gold-copper-molybdenum soil anomaly covering an area of ​​approximately 600 m by 600 m. Selective rock samples within a dioritic porphyry at Pircas Norte have returned values ranging between 0.3 and 0.83 g/t gold. Limited drilling at Pircas Norte has returned intriguing results, including 502m of 0.36 g/t gold and 0.078% copper from 24SC-DDH-003 (from 102 m to 600 m, end of hole) and 120 m of 1.33 g/t gold, 0.09% copper from 24SC-DDH-005, at a depth of 376 m to 496 m (end of hole). This latter drillhole features high-grade quartz veins included within the broader interval, which returned 2.0 m of 47.90 g/t gold from 414 m. A selective sample of a 27 cm wide quartz vein from 484.63 m returned 39.70 g/t gold. Also, hole 24SC-DDH-005 intersected four further zones of significant gold-copper mineralization, including 118 m of 0.26 g/t gold and 0.034% copper from surface. This hole was drilled 315 metres northeast of drill hole 23SC-DDH-003.

At the Gemelos Norte target, drill hole 24SC-DDH-004 intercepted 98 m of 0.18 g/t gold and 0.043% copper (Cu) at a depth of 274 m and 100 m of 133 ppm molybdenum at a depth of 56 m to 156m. Drilling will focus on expanding the current footprint of drilled mineralization as well as searching for a potential causative intrusion.

Corporate Update:
As disclosed in the recent shareholder meeting proxy materials, director Steve Cook, age 69, has completed his retirement from his role of Lead Independent Director. The Company's CEO, Shawn Wallace, stated "On behalf of Torq and the Board, I would like to thank Steve for all his efforts over the last decade and in particular the last 12 months as Torq turned the corner. I wish Steve nothing but success in his future endeavors."

Bryan Atkinson, P.Geol is the qualified person who has reviewed and approves of all the technical contents in this press release.

ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair

For further information on Torq Resources, please visit www.torqresources.com or contact the company at (778) 729-0500 or info@torqresources.com.

About Torq Resources
Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information in this release includes statements that relate to the possibility that drilling will demonstrate the extension of favourable geological structures. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by some of the principal forward-looking statements. See Torq's Annual Information Form filed April 29, 2024, at www.sedarplus.ca for disclosure of the risks and uncertainties faced in this business.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Torq Resources Inc.

View the original press release on ACCESS Newswire

FAQ

What are the key drilling results from Torq Resources' (TRBMF) Santa Cecilia project?

Key results include 120m of 1.33 g/t gold and 0.096% Copper in hole 24SC-DDH-005, and 498m of 0.36 g/t gold and 0.08% copper in hole 24SC-DDH-003.

How many drill holes and meters are planned for TRBMF's current Santa Cecilia program?

The program will include 5-7 drill holes for approximately 4,000 meters using two drill rigs.

What is the size of Gold Fields' initial funding commitment to TRBMF's Santa Cecilia project?

Gold Fields has made an initial USD$6 million funding commitment to the project.

What are the dimensions of the gold-copper-molybdenum soil anomaly at TRBMF's Pircas Norte target?

The soil anomaly at Pircas Norte covers an area of approximately 600 meters by 600 meters.