Torr Metals Reports Robust Copper-Gold Grades, Expands with Sonic Zone Discovery at Kolos Project
VANCOUVER, Aug. 27, 2024 - via IBN - Torr Metals Inc. ("Torr" or the "Company") (TSX-V: TMET.V) is pleased to announce the final assay results from a total of 33 rock grab samples collected during 2024 reconnaissance programs, revealing additional high-grade rock grab assays within the Kirby, Rea, and Clapperton exploration target zones as well as a new copper-gold discovery in the northern portion of the Kolos Copper-Gold Project (the "Project"), now termed the Sonic Zone (Figure 1).
Located approximately 30 kilometers (km) southeast of Canada's largest open-pit copper mine at Highland Valley, the 100% owned ~240 km2 Kolos Project is located on Highway 5 just 23 kilometers (km) north-northeast of the city of Merritt, British Columbia.
Highlights:
- New Sonic Zone Discovery: Initial rock grab samples from the Sonic Zone have revealed anomalous copper (Cu) and gold (Au) values in outcrop within a 1,000 by 2,000 meter footprint of strong magmatic-hydrothermal alteration that aligns with the margins of a high magnetic geophysical signature, identified as a potential source monzodiorite intrusion (Figure 1). With no previous exploration recorded in this area, the discovery reinforces Torr's exploration model and suggests the potential for another large-scale cluster of anomalies comparable in scale to the already established Kirby, Lodi, Ace, and Rea targets to the south.
- Expansion of Exploration Targets: The potential for expanding the Clapperton Zone has been bolstered by the discovery of large angular boulders, which are interpreted as being close to their original source. These boulders returned anomalous copper values up to 816 parts per million (ppm) more than 1,000 meters east of the 2023 soil sampling grid boundaries; in an area coincident with multiple high-resistivity geophysical anomalies that are identical to that associated with the host intrusion at the main Clapperton showing (see June 13, 2024 news release).
- Confirmation of Multiple Areas with Strong Mineralization: The 2024 rock grab reconnaissance sampling programs have identified new sample locations and notable increases in copper (Cu) grades across multiple zones within the Project area. Out of 33 rock grab samples collected, 9 returned values exceeding 500 parts per million (ppm) Cu. This includes an outcrop sample of malachite stained magnetic diorite from the Kirby Zone, which yielded 0.38% Cu and 0.22 grams per tonne (g/t) Au within a ZTEM geophysical anomaly that extends over 1,000 meters in depth, yet to be tested by drilling (see April 24, 2024 news release).
Malcolm Dorsey, President and CEO, commented, "The latest results from our 2024 reconnaissance sampling programs not only reaffirm the high-grade potential of the Kolos Project but also highlight significant untapped exploration opportunities across multiple zones. The discovery of the Sonic Zone is particularly promising, as it opens up a new area of mineralization that bears geological similarities to the high-grade New Afton copper-gold porphyry deposit, located just 27 km to the north. These findings underscore the vast potential for untouched new discoveries within the project area, and as we advance into the 2024 field season we anticipate delivering substantial value to our shareholders through continued exploration of these exciting new targets as well as development of our already established zones."
Sonic Zone Comparisons to New Afton
Key surface indicators within the Sonic Zone suggest significant potential for a silica-saturated porphyry system with similar geological characteristics to the nearby high-grade1 New Afton copper-gold deposit. New Afton is characterized by monzonite to monzodiorite intrusions and alteration patterns that include potassic alteration (dominated by biotite, with K-feldspar and magnetite) and propylitic alteration (chlorite, epidote, and calcite). Surface features such as these, along with narrow quartz veins, silicification (increased silica content in the rock), and location along the margins of a high magnetic geophysical anomaly are strong indicators of underlying mineral potential2. Similar parallels have been observed at the Sonic Zone (Figure 2), underscoring the high degree of prospectivity for this area to host a substantial mineralizing system.
The Sonic Zone's geophysical and geological similarities to New Afton make it a compelling target for further exploration, with an extensive soil and rock sampling program planned for 2024.
1New Afton: 34,087,000 @ 0.67 g/t Au, 1.69 g/t Ag, 0.73% Cu (P & P), 73,976,000 @0.57 g/t Au, 2.14 g/t Ag, 0.70% Cu (M & I), 10,219,000 @0.33 g/t Au, 1.36 g/t Ag, 0.45% Cu (inferred). New Afton Reserves and Resources Summary December 31, 2023 (Newgold.com).
2Lecuyer et al. 2020. NI 43-101 Technical Report on the New Afton Mine, British Columbia, Canada. New Gold Inc. Information and comparisons disclosed is not necessarily indicative of precious or base metal endowment or assays on the Kolos Project.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the "B" horizon soil samples underwent screening to 180 microns under the ALS code PREP-41. The samples were digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Kolos Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control ("QA/QC") measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.
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, based in Vancouver, British Columbia, is dedicated to advancing its 100% owned, district-scale copper-gold porphyry and orogenic gold projects in highly accessible mining regions of Canada. Each project benefits from excellent existing infrastructure, year-round drilling potential, and low-cost development opportunities. The approximately 240 km² Kolos Copper-Gold Project is located in the prolific copper-producing Quesnel Terrane of south-central British Columbia, with direct access to Highway 5, and is situated 286 km northeast of Vancouver. The approximately 261 km² Filion Gold Project lies within an unexplored gold-bearing greenstone belt, adjacent to the Trans-Canada Highway 11, just 202 km from Timmins, northern Ontario. For more details, please visit the Company's website or view documents filed under the Company's profile on SEDAR at www.sedarplus.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.sedarplus.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Attachments
- Figure 1: Kolos Project Area
- Figure 2: Outcrop Photos Within the Newly Discovered Road-Accessible Sonic Zone