Torq Makes New Discovery at its Margarita Iron-Oxide Copper-Gold Project: 90 metres of 0.94% Copper and 0.84 g/t Gold
VANCOUVER, BC / May 2, 2022 / Torq Resources Inc. (TSX-V:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce the discovery of a new copper and gold sulphide system as a result of its maiden 4,075 metre (m) reverse - circulation (RC) drill program at its Margarita Iron-Oxide-Copper-Gold (IOCG) project, located in northern Chile about 65 kilometres (km) north of the city of Copiapo. Drill hole 22MAR-013R intersected 90 m of 0.94% copper and 0.84 g/t gold at a depth of 50 m - 140 m. This discovery successfully identified the copper and gold sulphide source mineralization to the abundant copper oxide mineralization observed on the southern margin of the project, validating the Company's exploration thesis, and represents the potential for a significant new IOCG discovery in the Cretaceous Coastal Cordillera belt in northern Chile (Figure 1). A summary of the drill results is presented in Table 1.
A Message from Shawn Wallace, Executive Chair:
"This copper and gold discovery drill hole is a remarkable success for Torq. After only acquiring the Margarita project a year ago, our team was able to uncover the potential for an entirely new IOCG deposit in Chile from its maiden 13-hole drill program on a project that had never been drilled before. We are incredibly impressed by the work of our technical team and their ability to move quickly and methodically in recognizing the opportunity at Margarita at an early stage and then delivering the kind of results all exploration companies strive for. We are now diligently preparing for a follow-up drill program and will update shareholders and stakeholders of our plans in the very near future."
- Published: 02 May 2022
- Written by Editor