Torr Announces Staking of Highway Accessible Kolos Copper-Gold Project in South-Central British Columbia
Vancouver, September 25, 2023 - Torr Metals Inc. (TSXV: TMET) ("Torr" or the "Company") is pleased to announce the staking of the highly prospective Kolos Copper-Gold Project (the "Project") totaling 13,957 hectares in south-central British Columbia. The Project is located within a prolific porphyry belt that is host to major deposits and long-lived mines including the nearby Highland Valley Copper Mine, located approximately 30 kilometres (km) to the northwest (Figure 1). The 100% owned ~140 km2 Kolos Copper-Gold Project has direct access to Highway 5, with substantial local infrastructure that would allow for low-cost year-round operation potential.
The Kolos Project hosts 6 never-drilled copper and gold occurrences (Figure 2: Lodi, Kirby, Ace, Rea, Helmer, and Clapperton occurrences) that exhibit strong multi-element geochemical anomalism in historical rock and soil sampling, highlights of the Project include:
- District-scale opportunity with >6.5 km strike-length to copper-gold mineralization adjacent to Highway 5 with 6 road-accessible zones of strong copper-gold porphyry-related mineralization and alteration already identified at the Lodi, Kirby, Ace, Rea, Helmer, and Clapperton targets.
- Historical rock grab sampling from outcrop at the Kirby occurrence that yielded 4.24 grams per tonne (g/t) gold (Au), 11.3 g/t silver (Ag), 0.52% copper (Cu), centred within a soil anomaly of >100 parts per million (ppm) Cu measuring 1200 by 800 metres (m) that remains open to the south and southwest. From a total of 349 historical soil samples at the Kirby target 96 yielded >100 ppm Cu and 11 >200 ppm Cu, coincident with anomalous arsenic in soil.
- Historical rock grab sampling that yielded 4.7 g/t Au, 144 g/t Ag, and 1.0% Cu from outcrop at the Rea occurrence.
- Immediate initiation of 2023 field program composed of up to 2300 planned soil samples as well as rock sampling; with a focus on testing potential extensions to historical geochemical anomalies. A property-wide airborne ZTEM geophysical survey will also be conducted in October 2023.
Malcolm Dorsey, President and CEO, commented, "With the acquisition of the Kolos Copper-Gold Project our goal has been to add new strong exploration targets within a highly favorable jurisdiction with excellent access to infrastructure and year-round operation potential. With highly prospective geological attributes, including significant geochemical anomalies, the Kolos Project has the potential for a major new discovery just as strategic investments by majors in BC copper exploration are heating up. Through claim staking we have secured the Kolos Project at low cost with potential for high payoff and significant shareholder value. We look forward to initiating our field exploration program without delay."
Figure 1. Kolos Project location within the prolific porphyry belt of the Quesnel Terrane in south-central British Columbia. Figure including locations of Late Triassic Alkaline and Calc-Alkaline intrusions modified from Mitchinson et al. 20221.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6794/181610_ff6ee95ef4bbd9b8_001full.jpg
Figure 2. Kolos Project boundary with known copper and gold mineral occurrences and select historical rock grab samples that will be the focus of follow-up exploration in 2023.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6794/181610_ff6ee95ef4bbd9b8_002full.jpg
The Kolos Project
The Kolos Project is ideally situated in moderate terrain along Highway 5, only 23 km north of the city of Merritt in central British Columbia. Numerous forestry roads provide drive-on access to the Lodi, Kirby, Ace, Rea, Helmer, and Clapperton target zones. The Project lies within the Quesnel Terrane, a prolific porphyry belt in British Columbia that is host to major deposits and long-lived mines that within the region largely consist of Late Triassic calc-alkaline and alkaline intrusions, including the Highland Valley (30 km to the northwest), New Afton (30 km to the north), and Copper Mountain (106 km to the south) deposits (Figure 1).
Regional exploration occurred in the immediate area starting in the 1960's through to the late 1980's, as a result of the porphyry copper-molybdenum discoveries at Highland Valley. However the majority of the area is still left underexplored with high potential for new discovery, such as the Kirby mineral occurrence on the Kolos Project which was only identified in 2014, with a historical rock grab sample yielding 4.24 g/t Au, 11.3 g/t Ag, 0.52% Cu.
Highly prospective mineralization on the Project consists of locally abundant pyrite that is disseminated within host volcanics as well as concentrated within north-trending fault structures that separate the underlying Late Triassic Nicola Group rocks from Late Triassic granodiorite to quartz monzonite intrusions. Elsewhere throughout the project area localized occurrences of malachite with rare chalcopyrite also occur within host volcanics, associated with increased fracturing together with carbonate alteration and quartz-carbonate veinlets. These veinlets carry malachite, pyrite ± chalcocite that together with observed alterations styles is suggestive of the upper level of a large-scale copper porphyry system with near-surface exposure.
With a large historical geological, geochemical, and geophysical dataset Torr is well situated to rapidly develop the Kolos Project to drill-ready status through effective and efficient exploration in 2023.
1Mitchinson, D.E., Fournier, D., Hart, C.J.R., Astic, T., Cowan, D.C., and Lee, R.G. (2022). Identification of New Porphyry Potential Under Cover in British Columbia. Geoscience BC Report 2022-07, MDRU Publication 457, 97 p.
Qualified Person
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.
About Torr Metals
Torr Metals is a Vancouver based mineral exploration company focused on defining and developing the substantial exploration potential of the ~140 km2 Kolos Copper-Gold Project, located within the prolific Quesnel Terrane in Central British Columbia. Year-round access is provided by Highway 5, with the project being favourably located 23 km north of the city of Merritt and 286 km by highway from Vancouver, British Columbia. For further details about the Company's additional 689 km2 Latham Copper-Gold Project please refer to the Company's website or current geological Technical Report (August 24, 2021) filed on November 25, 2021 under the Company's profile on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Torr Metals Inc.
"Malcolm Dorsey"
Malcolm Dorsey
President, CEO and Director
For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email: malcolmd@torrmetals.com
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 press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181610