Torq Defines 800-metre Mineralized System at the Margarita Project
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Torq Defines 800-metre Mineralized System at the Margarita Project
Vancouver, Canada – November 28, 2022 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq”
or the “Company”) is pleased to announce that it has defined a gold – copper mineralized system over
an 800 metre (m) strike length at the Falla 13 discovery at its Margarita project located in northern Chile,
approximately 65 kilometr es (km) north of th e city of Copiapo. Highlights from the recently completed
reverse circulation (RC) drill program include : 64 m of 0.63 g/t gold (Au) and 0.63% copper (Cu) in
22MAR-017R, 130 m of 0.3 6 g/t Au and 0.28% Cu (including 30 m of 1.02 g/t Au and 0.57% Cu) in
22MAR-023R, and 62 m of 0.51 g/t Au and 0.38% Cu (including 16 m of 1.6 g/t Au and 0.98% Cu) , in
22MAR-024R (Figure 1). Table 1 summarizes all exploration drill holes from the Falla 13 discovery area.
A Message from Shawn Wallace, CEO:
“The successful completion of the second drill program at Margarita marks an important milestone for
the project and the Company. We have successfully added dimension and confirmed that the system we
are exploring has the potential for continuity of size and grade. It is incredible that less than one year ago,
Margarita was a prospect without a single drill hole . Now, as our team begins to plan the next phase of
exploration at Margarita, we are also preparing for our inaugural drill program at our Santa Cecilia gold-
copper project in the Maricunga belt, which we are also very excited about.”
A Message from Michael Henrichsen, Chief Geological Officer:
“With our second phase of drilling complete at the Margarita project we have been able to delineate a
mineralized body over an 800 m strike length in a short amount of time. Collectively, the different styles
of mineralization encountered, and the two orientations of mineralized structures, demonstrate a robust
system with significant potential to both expand the mineralization along the Falla 13 corridor and find
new bodies of mineralization at untested , geologically similar targets. Over the next several months we
will refine our targets through additional soil sampling with an emphasis on gold, additional induced
polarization ( IP) lines in the northern region of the project and continued geologic mapping. We look
forward to outlining our third phase drill program for the project.”
Table 1: Summary of RC drill holes from Margarita Falla 13 discovery:
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Hole ID From To Length Au g/t Cu % CuEq % AuEq g/t
21MAR-013R
(Previously Reported
on May 12, 2022)
64 140 76 0.99 1.02 1.74 2.39
Incl. 64 90 26 0.55 0.87 1.27 1.74
And 98 138 40 1.49 1.12 2.21 3.03
294 318 24 0.16 0.10 0.22 0.30
22MAR-014R
(Previously Reported
on Sep. 13, 2022)
32 130 98 0.94 0.68 1.37 1.87
Incl. 34 116 82 1.09 0.74 1.53 2.10
180 184 4 0.13 0.06 0.15 0.21
22MAR-015R
76 78 2 0.27 0.05 0.25 0.35
102 110 8 0.43 0.16 0.47 0.65
Incl. 104 110 6 0.53 0.21 0.59 0.82
120 142 22 0.37 0.11 0.38 0.52
Incl. 120 132 12 0.62 0.20 0.65 0.89
150 218 68 0.17 0.12 0.25 0.34
Incl. 180 188 8 0.31 0.20 0.43 0.59
268 270 2 1.22 0.19 1.08 1.48
336 342 6 0.23 0.20 0.37 0.51
22MAR-016R
98 104 6 0.12 0.34 0.43 0.59
114 122 8 0.17 0.23 0.36 0.49
142 164 22 0.13 0.19 0.28 0.39
284 304 20 0.13 0.23 0.32 0.44
22MAR-017R
110 174 64 0.63 0.63 1.09 1.50
Incl. 118 126 8 1.26 1.73 2.65 3.63
And 134 174 40 0.72 0.61 1.13 1.55
200 218 18 0.36 0.49 0.75 1.03
Incl. 208 212 4 1.12 0.69 1.51 2.07
22MAR-018R
4 10 6 0.11 0.22 0.31 0.42
18 102 84 0.34 0.21 0.46 0.63
Incl. 24 34 10 0.33 0.11 0.35 0.49
And 42 58 16 0.25 0.26 0.44 0.61
And 64 68 4 0.34 0.30 0.55 0.75
And 76 100 24 0.67 0.27 0.76 1.04
126 152 26 0.17 0.14 0.26 0.36
Incl. 148 152 4 0.49 0.10 0.46 0.63
160 164 4 0.16 0.43 0.55 0.75
226 232 6 0.27 1.03 1.23 1.68
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Incl. 226 230 4 0.35 1.13 1.38 1.89
22MAR-019R
70 72 2 0.60 0.53 0.96 1.32
82 102 20 0.21 0.23 0.38 0.52
Incl. 90 98 8 0.37 0.36 0.63 0.87
110 134 24 0.13 0.15 0.25 0.34
154 168 14 0.17 0.14 0.27 0.37
206 224 18 0.11 0.00 0.08 0.12
242 248 6 0.13 0.01 0.10 0.13
270 276 6 0.10 0.01 0.09 0.12
22MAR-020R
258 290 32 0.22 0.38 0.54 0. 75
Incl. 268 276 8 0.44 0.66 0.98 1.34
And 286 290 4 0.35 0.80 1.06 1.45
22MAR-021R 332 336 4 0.47 0.47 0.81 1.11
22MAR-022R
4 16 12 0.18 0.12 0.25 0.35
Incl. 12 16 4 0.41 0.13 0.43 0.58
26 74 48 0.37 0.26 0.53 0.73
Incl. 26 46 20 0.47 0.35 0.69 0.95
And 54 62 8 0.29 0.25 0.47 0.64
And 66 74 8 0.57 0.22 0.64 0.87
88 90 2 0.33 0.03 0.27 0.37
210 214 4 0.21 0.00 0.15 0.21
230 240 10 0.13 0.00 0.09 0.13
22MAR-023R
76 206 130 0.36 0.28 0.55 0.75
Incl. 76 80 4 0.90 0.25 0.91 1.25
And 88 118 30 1.02 0.57 1.32 1.81
338 344 6 0.18 0.17 0.30 0.41
22MAR-024R
74 80 6 0.16 0.29 0.40 0.55
136 198 62 0.51 0.38 0.75 1.02
Incl. 166 182 16 1.60 0.98 2.15 2.95
230 232 2 0.31 0.20 0.43 0.59
268 274 6 0.12 0.09 0.17 0.23
288 304 16 0.14 0.06 0.16 0.22
340 350 10 0.10 0.13 0.21 0.28
Main Interval - AuEq (Au,Cu) intervals at 0.1 g/t Au (minimum 5m, max consecutive dilution 6m)
Sub-Interval - AuEq (Au,Cu) intervals at 0.25 g/t Au (minimum 5m, max consecutive dilution 6m)
Metal price used for Eq calculations: Au $1,500/oz, Cu $3/lb
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Geologic Discussion of the Falla 13 Discovery:
The results of the 12 RC drill holes that have tested the north – northwest trending Falla 13 discovery
demonstrate a consistently mineralized copper-gold system over an 800 mstrike length . The discovery
to date exhibits a number of distinct styles of mineralization , including: high-grade magnetite breccia
bodies, disseminated mineralization within two distinct intrusives with dioritic and monzodioritic
compositions exhibiting pyrite – chalcopyrite and chalcopyrite only , respectively. In addition, both
structurally controlled and sub-horizontal manto-style mineralization that occurs at the contact between
overlying volcanics and intrusive rocks are observed both in drilling and on the surface through geological
mapping, respectively.
The mineralization along the Falla 13 structural corridor is interpreted to have four separate domains
based on cross cutting west – northwest (WNW) trans-tensional structures where minor dextral offset
of the main mineralized structure is observed (Fi gures 1 – 2). Importantly, one of the prominent WNW
trending structures has been drill tested and is mineralized with drill hole 22MAR-023R intersecting 30 m
of 1.02 g/t Au and 0.57% Cu within a broader interval of 130 m of 0.37 g/t Au and 0.28% Cu. The
recognition of a second orientation of the mineralized structure within the emerging discovery at the Falla
13 area is important as it provides an additional structural corridor to explore and demonstrates the
potential of the WNW structures, such as Remolino,across the property (Figure 3).
The mapped WNW trending structures identified across the Falla 13 d iscovery area have slightly offset
the mineralization along the Falla 13 structural corridor into four distinct areas: the northern, central,
southern and Remolino domains (Figures 1 - 2). These WNW structures are interpreted to be syn -post
mineral in their movement as they are both mineralized and also offset mineralization along the Falla 13
structural corridor and are viewed as potential feeder structures to the drilled mineralized system . The
recognition of the WNW structures being mineralized has identified exploration targets immediately
adjacent to the drilling completed to date (Figure 2).
Falla 13 Discovery Structural Domains – Detailed Discussion:
The northern structural domain remains open to the north-northwest along strike of the Falla 13 corridor,
where drill hole 22MAR-022 intercepted 48 m of 0.37 g/t Au and 0.26% Cu (including 20 m of 0.47 g/t Au
and 0.35% Cu). To the north of drill hole 22MAR-022, mapped breccia bodies have been recognized that
trend under alluvial cover. An ongoing soil and rock geochemical survey will help determine the full
northern extents of mineralization along the Falla 13 corridor; however, previous pXRF copper-in-soils
geochemical results suggest a potential 400 m extension to the north (Figure 2).
The central domain is characterized by the recognition of two main mineralized structures with the
highest grades associated with magnetite breccia bodies in drill hol es 22MAR -013, 22MAR -014 and
22MAR-018, where intercepts of 90 m of 0.84 g/t Au and 0.94% Cu, 98 m of 0.94 g/t Au and 0.68% Cu
and 84 m of 0.34 g/t Au and 0.21% Cu (including 24 m of 0.67 g/t Au and 0.27% Cu) were encountered,
respectively. The 100 m step out holes beneath drill holes 22MAR-013 and 22MAR-014 did not encounter
the magnetite breccia bodies, however, the mineralized system continues to depth with drill hole 22MAR-
015 encountering 22 m of 0.37 g/t Au and 0.11% Cu from 120 m – 140 m depth and 68 m of 0.17 g/t Au
and 0.12% Cu (Figure 4). Torq’s technical team believes that the high-grade magnetite breccia bodies
may potentially have a flat lying manto-style geometry or may have a steep plunge to the south based on
the intersection between the NNW and WNW faults that appear to control mineralization. The Company
is planning to test b oth potential geometries in a future phase 3 drill campaign. In addition, a lower
mineralized structure was encountere d at depth in both drill holes 22MAR -013 and 22MAR -018, where
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
intercepts of 24 m of 0.16 g/t Au and 0.11% Cu from 294 m – 318 m and 6 m of 0.27 g/t Au and 1.0% Cu
from 226 m – 232 m were encountered, respectively (Figure 4).
The southern domain shows that mineralization along the Falla 1 3 corridor is offset to the east , with
relation to the central domain along a WNW trending structure. The WNW trending structure also has a
vertical offset based on a thicker volcanic sequence encountered in 22MAR-017 and 22MAR-024. These
drill holes encountered 64 m of 0.63 g/t Au and 0.63% Cu from 110 m – 174 m and 62 m of 0.51 g/t Au
and 0.38% Cu from 136 m – 198 m (including 16 m of 1.61 g/t Au and 0.98% Cu) , respectively. The
dextral offset along the WNW fault between the central and southern domain demonstrates the potential
to encounter additional mineralized breccia bodies in the central domain at greater depths and further to
the west.
Finally, in the Remolino domain, furthest to the south along the Falla 13 corridor , weaker mineralization
was encountered in drill holes 22MAR -020 and 22MAR -021, where 32 m of 0.2 2 g/t Au and 0.38% Cu
from 258 m – 290 m and 4 m of 0.46 g/t Au and 0.47% Cu from 332 m – 336 m were encountered,
respectively. A prominent magnetic anomaly is observed approximately 200 m to the west that remains
untested and may represent a southern continuation of the high -grade magnetite breccia bodies
encountered in the central domain (Figure 2).
Next Steps:
Currently, Torq is conducting a property -wide gold and multi -element soil geochemical survey to define
additional target areas , both within the Falla 13 discovery zone and across the rest of the property. In
addition, a ground-based IP geophysical survey will be conducted in the northern third of the property to
help define the potential northern extension of the Falla 13 discovery. Over the coming mon ths Torq’s
technical team will finalize a phase 3 drill program, expected to be between 8,000 m – 12,000 m, with the
objective of testing the rest of the targets on the property.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 1: Illustrates drill highlights from the second phase of RC drilling at the Falla 13 discovery zone.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 2: Illustrates additional target areas within the Falla 13 discovery area.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 3: Illustrates the Falla 13 discovery zone as well as the WNW trending Remolino and intrusive hosted Cototuda targets.