Torr Metals' Filion gold project moves forward with three-year exploration permit
04.07.2024 | NewsDirect
Torr Metals (TSX-V:TMET) CEO Malcolm Dorsey joined Proactive's Stephen Gunnion after the government of Ontario granted a three-year exploration permit for drilling at its Filion gold project.This significant advancement allows the company to further develop the 260 km² project in northern Ontario, which benefits from excellent infrastructure, including access to the Trans-Canada Highway 11, rail, road, and power grid. The project operates out of Kapuskasing, negating the need for remote exploration camps and enabling low-cost exploration.
Dorsey said the project, acquired through staking in October 2023, has shown promising early results. Torr Metals' exploration model identified structural controls and stratigraphy indicative of significant gold deposits. Historical high-grade samples, up to 91g per tonne gold, and initial reconnaissance programs have yielded encouraging results. Six gold soil anomalies were identified, with the largest anomaly having a strike length of 1,200 meters and a width of 250 meters. Soil assays returned up to 1.3g per tonne gold.
With the exploration permit, Dorsey said the company plans to drill and extend the soil anomaly potentially to 2.5 km in length. Additional work may include soil sampling and ground magnetic surveys. Investors should expect updates on site mobilization and exploration program developments.
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