Torq Resources Inc. Commences Exploration on its Margarita Iron-Oxide-Copper-Gold Project in Northern Chile
VANCOUVER, April 8, 2021 - Torq Resources Inc. (TSXV:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce that it has commenced work on its Margarita Iron-Oxide-Copper-Gold (IOCG) project located in northern Chile, 65 kilometres (km) north of the city of Copiapo (Figure 1). The surface exploration program is focused on defining drill targets with the aim of initiating the first drill program at Margarita in Q3 2021. A Message from Shawn Wallace, Executive Chair & Director:
"The Margarita project represents an excellent opportunity to make a major copper-gold discovery in a prolific region of Chile. We are excited to be advancing the project toward its first drill program, which is to commence later this year. The Company is continuing its strategy of pursuing high-quality copper-gold projects in order to continue to add world-class exploration opportunities in Chile to its portfolio."
Exploration Program:
Torq has initiated a three-month integrated exploration program that consists of geologic mapping, a property-wide induced polarization (IP) geophysical survey (50-line km) and geochemical soil sampling program. The goal of this exploration program is to define drill targets aimed at identifying the copper sulphide source of the observed copper oxide mineralization in the southwest corner of the property (Figures 2 - 3). Upon completion of this first phase of exploration, the Company will submit an application to governmental authorities for a drill permit that will allow Torq to drill from up to 39 drill platforms. It is expected that the drill permit will be received approximately 30-60 days from the submission date, which would allow the Company to drill Margarita in Q3.
Figure 1: Illustrates the location of the Margarita project within the Cretaceous Coastal Cordillera belt and its proximity to major
deposits in the area.
Figure 2: Illustrates the large-scale clay-silica alteration system that is centered on the Margarita property and the position of the copper oxide mineralization on the southwest corner of the project area.
Figure 3: Illustrates the copper oxide mineralization along a fault zone on the southwestern margin of the project area.
Michael Henrichsen (Chief Geologist), P.Geo is the QP who assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chairman
For further information on Torq Resources, please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0500 or info@torqresources.com.
About Torq Resources
Torq is a junior exploration company focused on establishing a top-tier mineral portfolio. The Company's management team has raised over $550 million and monetized successes in two previous exploration companies. Torq is continually reviewing mineral targets in pursuit of acquisition, strategic exploration and significant discovery.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information 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 such forward-looking statements.
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.
SOURCE: Torq Resources Inc.