Vancouver, Canada – March 13, 2023 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or the “Company”) is pleased to announce that it has commenced its first drill program at the 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 located immediately adjacent to 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 initial drill program at Santa Cecilia is expected to consist of a total of approximately 15,000 metres (m) over the next 14 months with a break of four months anticipated between June – September for the Chilean winter. Approximately 7,000 m of the drilling is expected to take place in 2023, with the first two drill holes planned for the northeastern flank of the Cerro del Medio target area, where mineralization from a 2012 drill hole intercepted 925.7 m of 0.21g/t gold, 0.27% copper, and 82 ppm molybdenum in a porphyry system located immediately below the epithermal gold system that was defined from 1988 – 1990 by a major mining company (Figure 2). Importantly, the mineralization intercepted in the 2012 drill hole is known to be in wall rock, and the Company is targeting a higher-grade causative intrusion.
A Message from Shawn Wallace, CEO & Director:
“This is the first drill program to take place at the Santa Cecilia project in over a decade, since a discovery was made in 2012. We have the privilege of following up on historical work that defined 1.5 km of continuous vertical mineralization, starting at surface in an epithermal gold system and then transitioned into copper porphyry mineralization. There are multiple porphyry centres on this project, so this is only the beginning of a significant drill campaign that we expect to consist of approximately 15,000 m over the next 14 months. We are grateful for the support of the local community and are commited to maintaining our mutually beneficial relationship throughout the execution of the program, which includes ongoing transparent communication via an established committee. Breaking ground at Santa Cecilia has been highly anticipated, and we greatly look forward to the first results coming in.”
Drill Program:
The first two drill holes planned at Santa Cecilia will be at the Cerro del Medio target, which is located centrally on the project, and will be targeting a north – northeast trending structural corridor that could control the emplacement of potential higher-grade causative intrusions. These orientations are similar to the orientation of the high-grade porphyry phase observed at the adjacent Caspiche deposit. The planned drill holes are targeting breccia bodies, associated resistivity highs and magnetic anomalies that are located to the east of the historical drilling along the north-northeast trending structural corridor. They are located 500 m to the east of the historical 2012 porphyry intercept and 500 m of strike length along the structural corridor.
Figure 1 – Illustrates the location of the Santa Cecilia project and the surrounding Caspiche and Cerro Casale deposits, held by Newmont and Barrick in the Norte Abierto joint venture, within the Maricunga belt.
Figure 2 – Illustrates the location of the first two drill holes in Torq’s first drill program at the Santa Cecilia project on the northeastern flank of the Cerro del Medio target area.
Michael Henrichsen P.Geo, Torq’s Chief Geological Officer, is the qualified person as defined by NI 43-101 (Standards of Mineral Disclosure) who assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
For further information on Torq Resources, please contact Natasha Frakes, VP, Communications, at (778) 729-0500 or [email protected].
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 is information in this release that relates to expectations relating to any future exploration programs. 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 November 16, 2022 at www.sedar.com 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.
