VANCOUVER, BC / October 21, 2021 / Torq Resources Inc. (TSX-V:TORQ) (OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce that it has acquired an option to earn a 100% interest in the 3,250-hectare (32.5 square kilometre (km)) 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 (Figure 1). It is estimated that the Maricunga belt could host up to 90 million ounces of gold endowment. 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 (Figure 1).

 

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 2). Collectively, these deposits contain proven and probable reserves of 23.2 million (M) ounces of gold and 5.8 billion (B) pounds of copper and measured and indicated resources of 26.6 M ounces of gold and 6.7 B pounds of copper. Limited historical exploration work at Santa Cecilia was performed by the previous operator, a major international mining company ("previous operator"), in 1988 - 1990, when it drilled 47 holes, totaling approximately 14,000 metres (m), and completed 1,200 m of exploration tunnel development that clearly defined epithermal gold and gold - silver mineralization as well as gold - copper porphyry mineralization at surface and shallow depths, respectively.