Torq Defines Drill Targets at the Margarita Copper-Gold Project in Chile
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Torq Defines Drill Targets at the Margarita
Copper-Gold Project in Chile
Vancouver, Canada – September 8, 2021 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq”
or the “Company”) is pleased to announce that it has identified three primary target areas at the Margarita
Iron-Oxide-Copper-Gold (IOCG) project in northern Chile that form the basis for the upcoming 4,000 metre
(m) reverse circulation (RC) drill program, slated to begin later this month (Figure 1). The targets were
defined using data from recent geophysical and geochemical surveys as well as a geological mapping
program.
A Message from Shawn Wallace, Executive Chairman:
“The refinement of drill targets at the Margarita project has our entire team excited about the
prospectivity of the project and the real opportunity to make a major new discovery in one of the best
jurisdictions for mining on the planet. We are anxiously awaiting the commencement of our drill program
later this month. Furthermore, the Company is very pleased with the progress being made in the planning
for the Andrea project, with work anticipated to commence in early 2022.”
Exploration and Drill Targeting Update:
Torq has identified three primary target areas across the project area based on the completion of 1:2000
scale geological mapping, soil (pXRF) and rock geochemical sampling programs, and ground -based
induced polarization and m agnetic geophysical surveys. Geologically, the property can be broadly
defined by a large-scale intrusive complex that is interpreted to be directly associated with copper -gold
mineralization and by an overlying volcanic sequence that is mineralized along discrete north-northwest
structural trends (Figure 2).
A Message from Michael Henrichsen, Chief Geologist:
“The Margarita project is characterized by geological features that are consistent with both IOCG and
porphyry systems. The strong presence of copper oxide and gold mineralization within well-defined
structural corridors that are coin cident with chargeability highs and resistivity lows provides an
opportunity for a major discovery at the project and we are very much looking forward to our first drill
program.”
Southern Targets:
The southern Margarita – Cototuda target area is characterized by a large scale 1.5 kilometr e (km) by
500 m copper in soils (pXRF) geochemical anomaly that is hosted within a largely dioritic to dacitic
intrusive complex (Figure 2) . Copper oxide mineralization is observed both within vario us intrusive
phases as disseminated stockwork vein zones and concentrated along the north -northwest trending
Margarita and Cototuda structural trends , where shallow historical drilling has reported copper oxide
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
mineralization within 100 m of surface (historical drilling not compliant with National Instrument 43-101).
Alteration associated with the broad zone of mineralization is characterized by strong sericitic-hematite
alteration with lesser potassic alteration observed within the Cototuda area.
Rock sampling within the alteration zone from this area has identified copper oxide mineralization with
values up to 1.68% copper and up to 0.99 g/t gold within silica-hematite breccia bodies that occur parallel
to the strong north -northwest str uctural trends observed within the target area (Figures 3 - 4). Rock
sampling highlights are presented below in Table 1. Finally, the southern target areas are characterized
by chargeability highs indicating the presence of sulphide, resistivity lows indi cating hydrothermal
alteration and magnetic anomalies that may be related to magnetite -copper sulphide mineralization
(Figure 5).
Northern Targets:
The northern target areas are situated along the extensions of the Margarita and Cototuda north-
northwest trending structures and are defined by copper in soils (pXRF) geochemical anomalies . The
Cototuda North anomaly is hosted entirely within the volcanic sequence that overlies the mineralized
intrusive bodies observed in the southern target area. Torq’s technical team believes that there is strong
potential to encounter mineralized intrusive bodies within this structural corridor based on the presence
of chargeability highs, indicating the potential for sulphide mineralization, and resistivity lows, indicating
the presence of hydrothermal alteration at shallow depths of approximately 150 – 300 m. The Margarita
North anomaly is hosted at the sub -horizontal contact between the volcanic sequence and underlying
rhyodacitic and diorite intrusions . Strong sericite -clay-tourmaline alteration has been observed at the
base of the intrusive bodies, passing upward to silica -hematite-pyrite alteration located within the
volcanic sequence. In addition, strong resistivity lows , indicating intense alteration , are situated at
shallow depths of approximately 150 m.
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Table 1: Margarita – Cototuda target area selective rock sampling highlights
Sample ID Cu (%) Sample ID Cu (%) Sample ID Au (g/t) Sample ID Au (g/t)
1424 1.68 1465 0.25 1439 0.99 1440 0.16
1423 1.58 1469 0.22 1449 0.90 1504 0.15
1420 0.89 574666 0.21 1463 0.89 1429 0.15
574654 0.75 1399 0.20 1432 0.69 1435 0.14
1422 0.75 10009 0.19 1443 0.61 1451 0.12
1412 0.73 1473 0.16 1447 0.49 1488 0.12
1421 0.73 1431 0.16 1399 0.46 1553 0.12
574656 0.55 1467 0.15 1433 0.27 1464 0.12
1498 0.38 1511 0.14 1457 0.24 1508 0.11
1403 0.34 10002 0.14 1480 0.22 1571 0.10
1575 0.33 1496 0.12 1409 0.20
1508 0.28 1475 0.11 1570 0.18
1468 0.28 1570 0.10 1438 0.17
1569 0.26 1476 0.10 1446 0.17
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 1: Illustrates the location of the Margarita project within the Coastal Cordillera belt and its proximity to major deposits in
the region.
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 2: Illustrates the location of the primary targets at the Margarita project. Note the southern target ar ea is comprised of
the Margarita and Cototuda target areas that are characterized by abundant copper oxide mineralization on surface over a 1.5
km by 500 m area within dioritic to dacitic intrusive bodies. The target areas to the north are situated along n orth-northwest
structural trends that are interpreted to be the extensions of structures at the Margarita and Cototuda target areas.
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 3: Illustrates gold mineralization within the southern target areas. Gold in rock samples are contained in zones of silica -
hematite breccia bodies and are considered consistent with iron-oxide-copper-gold mineralized systems.
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 4: Illustrates copper oxide mineralization from rock samples within the southern target area that are characterized by
zones of stockwork veining.
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 5: Illustrates geological and geophysical cross sections from the southern target areas of Margarita and Cototuda where
targets are characterized by geophysical characteristics of chargeability highs, indicating the presence of sulphide minerals,
resistivity lows, indicating hydrothermal alteration, and magnetic highs, indicating the potential for magnetite – copper sulphide
mineralization.
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 visit www.torqresources.com or contact Natasha
Frakes, Vice President of Communications at (778) 729-0500 or [email protected].