Torq Terminates Margarita Project Option, Retains Adjacent Concession
Torq Resources (OTCQB:TRBMF) has announced the termination of its option to acquire interest in the Margarita Project in Chile. The decision comes as the company shifts focus to its Santa Cecilia copper/gold project, which has a US$48M Earn-in Option granted to Gold Fields.
The company will maintain 100% ownership of the 90-hectare La Cototuda concession adjacent to Margarita, which has minimal holding costs and no royalty burden. The termination will have no material impact on financial statements as capitalized costs were previously written off.
Additionally, Torq has completed its inaugural drill program at Santa Cecilia under the Gold Fields joint venture, with results pending from laboratory analysis.
Torq Resources (OTCQB:TRBMF) ha annunciato la cessazione dell'opzione di acquisire una partecipazione nel Progetto Margarita in Cile. La decisione arriva mentre l'azienda concentra l'attenzione sul progetto di rame/oro Santa Cecilia, per il quale è stata concessa a Gold Fields un'opzione di Earn-in da 48 milioni di dollari USA.
L'azienda manterrà la proprietà al 100% della concessione La Cototuda di 90 ettari, adiacente a Margarita, che comporta costi di mantenimento minimi e nessun onere di royalty. La cessazione non avrà un impatto significativo sui bilanci poiché i costi capitalizzati erano già stati svalutati.
Inoltre, Torq ha completato il suo primo programma di perforazione a Santa Cecilia nell'ambito della joint venture con Gold Fields, con risultati in attesa di analisi di laboratorio.
Torq Resources (OTCQB:TRBMF) ha anunciado la terminación de su opción para adquirir participación en el Proyecto Margarita en Chile. La decisión se produce mientras la compañía enfoca sus esfuerzos en el proyecto de cobre/oro Santa Cecilia, que cuenta con una opción de Earn-in de US$48 millones otorgada a Gold Fields.
La empresa mantendrá el 100% de propiedad de la concesión La Cototuda de 90 hectáreas, adyacente a Margarita, que tiene costos mínimos de mantenimiento y sin cargas de regalías. La terminación no tendrá un impacto material en los estados financieros ya que los costos capitalizados fueron previamente dados de baja.
Además, Torq ha completado su primer programa de perforación en Santa Cecilia bajo la empresa conjunta con Gold Fields, con resultados pendientes de análisis de laboratorio.
Torq Resources (OTCQB:TRBMF)는 칠레의 마가리타 프로젝트에 대한 지분 취득 옵션을 종료한다고 발표했습니다. 이 결정은 회사가 골드필드에 4,800만 달러 규모의 어른인 옵션이 부여된 산타 세실리아 구리/금 프로젝트에 집중하기 위해 내린 것입니다.
회사는 마가리타 인접 지역에 위치한 90헥타르 규모의 라 코토투다 광구를 100% 소유한 상태로 유지할 예정이며, 이 광구는 유지 비용이 적고 로열티 부담이 없습니다. 옵션 종료는 이전에 자본화된 비용이 상각되어 재무제표에 실질적인 영향을 미치지 않습니다.
또한, Torq는 골드필드와의 합작 투자 하에 산타 세실리아에서 첫 번째 시추 프로그램을 완료했으며, 현재 실험실 분석 결과를 기다리고 있습니다.
Torq Resources (OTCQB:TRBMF) a annoncé la résiliation de son option d'acquérir une participation dans le projet Margarita au Chili. Cette décision intervient alors que la société se concentre désormais sur son projet cuivre/or Santa Cecilia, pour lequel une option d'Earn-in de 48 millions de dollars US a été accordée à Gold Fields.
La société conservera la propriété à 100 % de la concession La Cototuda de 90 hectares, adjacente à Margarita, qui engendre des coûts de détention minimes et aucune charge de redevance. Cette résiliation n'aura pas d'impact significatif sur les états financiers, les coûts capitalisés ayant déjà été radiés.
De plus, Torq a achevé son premier programme de forage à Santa Cecilia dans le cadre de la coentreprise avec Gold Fields, les résultats étant en attente d'analyse en laboratoire.
Torq Resources (OTCQB:TRBMF) hat die Beendigung seiner Option zum Erwerb von Anteilen am Margarita-Projekt in Chile bekannt gegeben. Die Entscheidung fällt, während sich das Unternehmen auf sein Kupfer-/Goldprojekt Santa Cecilia konzentriert, für das Gold Fields eine Earn-in-Option im Wert von 48 Mio. USD erhalten hat.
Das Unternehmen wird weiterhin 100 % Eigentümer der 90 Hektar großen La Cototuda-Konzession neben Margarita bleiben, die geringe Haltekosten und keine Lizenzgebühren aufweist. Die Beendigung wird keine wesentlichen Auswirkungen auf die Finanzberichte haben, da die kapitalisierten Kosten bereits abgeschrieben wurden.
Zusätzlich hat Torq sein erstes Bohrprogramm in Santa Cecilia im Rahmen des Joint Ventures mit Gold Fields abgeschlossen, wobei die Ergebnisse der Laboranalyse noch ausstehen.
- Retention of strategic 90-hectare La Cototuda concession with minimal holding costs
- US$48M Earn-in Option with Gold Fields for Santa Cecilia project remains active
- Completion of inaugural drill program at Santa Cecilia
- No material financial statement impact from Margarita termination
- Termination of Margarita Project option due to financial constraints
- Reduction in overall project portfolio
VANCOUVER, BC / ACCESS Newswire / July 31, 2025 / Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") announces it has elected to terminate the option to earn its interest in the Margarita Project, Chile due to financial constraints and the Company's increasing focus on the US
The Company will continue to retain

Shawn Wallace, CEO and Chair states, "As we continue to focus our exploration efforts on new major discoveries at Santa Cecilia, eliminating the projects with large option payment requirements is in the best interest of our shareholders given our available resources."
As stated in the press release July 07, 2025, the Company has completed its inaugural drill program under the joint venture with Gold Fields at the Santa Cecilia project. All drill samples have been sent to the laboratory and the company looks forward to sharing results once they become available.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
Investor Relations
KIN Communications Inc.
604-684-6730
torq@kincommunications.com
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