Torq Resources has commenced its follow-up drill program at the Margarita Iron-Oxide-Copper-Gold (IOCG) project, located on the Coasta Coardillera belt in Chile and where the Company made a new discovery of 90 metres of 0.94% copper and 0.84 g/t gold during the first ever drill program on the project. The Company plans to drill approximately 4,000 m in its second phase of drilling along a 1 kilometre length of the Falla 13 structural corridor that exhibits clear geochemical and geophysical...
Torq Resources has commenced its follow-up drill program at the Margarita Iron-Oxide-Copper-Gold (IOCG) project, located on the Coasta Coardillera belt in Chile and where the Company made a new discovery of 90 metres of 0.94% copper and 0.84 g/t gold during the first ever drill program on the project. The Company plans to drill approximately 4,000 m in its second phase of drilling along a 1 kilometre length of the Falla 13 structural corridor that exhibits clear geochemical and geophysical signatures corresponding to the mineralization encountered in drill hole 22MAR-013R.
Shawn Wallace, CEO & Chair, stated: “We are extremely excited to commence drilling at Margarita and believe we have a strong probability of significantly expanding on the impressive IOCG discovery that we recently announced. This second phase of drilling has the potential to generate pivotal results and provide dimensions for the strong mineralized system at the project.”
Michael Henrichsen, Chief Geological Officer, stated: “Our greenfields discovery at Margarita is within a 1 km long section of the Falla 13 corridor that exhibits a clear signature of geophysical and geochemical responses associated with mineralization. This provides our technical team with a great deal of confidence that we can quickly outline a large-scale copper-gold deposit in the area. In addition, our technical team has identified a number of high quality targets on the project with similar characteristics as those observed at the Falla 13 discovery, which we plan to further explore in a third phase of drilling.”
Later in 2022, Torq will also be following up on the historic discovery of 0.45% CuEq over 925.7 m at its Santa Cecilia gold-copper project, located approximately 100 km east of the city of Copiapo in northern Chile. The project is in the southern region of the world-class Maricunga belt and immediately north of the El Indio belt. It is estimated that the Maricunga belt could host up to 90 million ounces of gold endowment1. The belt is characterized by gold epithermal and gold – copper porphyry deposits that are Oligocene - Miocene in age, including world-class multi-million-ounce deposits such as Salares Norte, La Coipa, Cerro Maricunga, Marte, Lobo, La Pepa, El Volcan, Caspiche and Cerro Casale. Torq has an option to acquire 100% of the Santa Cecilia project.
https://www.torqresources.com/ TSXV: TORQ | OTCQX: TRBMF
Press releases referenced: https://torqresources.com/news-media/news/2022/torq-initiates-follow-up-drill-program-to-discovery-at-margarita-iron-oxide-copper-gold-project/
https://torqresources.com/news-media/news/2021/torq-options-santa-cecilia-gold-copper-project-in-maricunga-belt-in-chile/
0:00 Introduction
2:43 Recapping Torq’s two discovery holes to be followed-up on
5:49 Buy-out price for major copper porphyry deposits
7:30 Next steps at Margarita copper-gold discovery
9:26 Margarita project drillable year-round
9:54 Santa Cecilia discovery hold follow-up
11:19 Highly-experienced Chilean team
12:17 Interest from major producers?
12:59 Approx. 6-week assay lab turn-around
13:32 Treasury and financing
15:30 Expectation is year-round news flow with Torq’s projects
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