Vancouver, Canada – April 25, 2023 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or the “Company”) is pleased to provide an exploration update on 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 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 Company’s current phase 1 drill program is following up on a 2012 discovery drill hole that intercepted 925.7 metres (m) of 0.21 g/t gold, 0.27% copper and 82 parts per million molybdenum beneath an epithermal gold system that was defined in 1988 – 1990 by a major mining company.
Torq’s first drill hole at the project has now been completed, reaching a depth of 1,060 m. The hole crossed a northeast structural corridor on the eastern flank of the Cerro del Medio target at the centre of the property. The Company’s primary objective is to target the potential high-grade causative intrusion responsible for the mineralization observed within wall rock in the 2012 discovery drill hole (Figure 2). The Company has started its second drill hole, which is planned to reach a depth of 1,000 m – 1,200 m. This hole will be completed prior to a planned pause for the Chilean winter season (June – September).
A Message from Michael Henrichsen, Chief Geological Officer:
“Torq’s planned 15,000 metre drill program at Santa Cecilia is working to delineate the number of porphyry centers and vectors to high-grade mineralization. The results from the first two drill holes, in addition to the complementary surface work we’ve completed and historical exploration data available, will direct the Company’s exploration efforts when the program resumes in October. We are excited about the potential that Santa Cecilia represents for a world-class discovery in the prolific Maricunga belt.”
Summary of Completed Surface Work:
Starting in mid-December, the Company has been undertaking a 1:5,000 scale geologic mapping program, a multi-element soil geochemical survey and a rock chip sampling program. To date, approximately 80% of the hydrothermal system has been mapped and soil sampled with a total of 1,680 soil samples and approximately 1,200 rock samples collected (Figure 3). The Company is currently analyzing the soil and rock chip samples and will provide the results and subsequent targeting updates from these surveys in the coming weeks.
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 drill hole, completed in the Company’s inaugural drill program at the Santa Cecilia project, on the eastern flank of the Cerro del Medio target area. Further planned drill holes are also outlined and will be targeting a prospective northeast trending structural corridor for the emplacement of potential high-grade causative intrusions.
Figure 3: Illustrates the progress of the soil and rock chip geochemical surveys across the hydrothermal system at the Santa Cecilia project.
Michael Henrichsen, P.Geo. (the Company’s Chief Geological Officer), is the qualified person 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 in this release are statements that relate to plans for 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 March 27, 2023 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.
