Torq Defines Multiple New Targets Based on Gold Geochemical Results at the Margarita Iron-Oxide-Copper-Gold Project
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Torq Defines Multiple New Targets Based on Gold Geochemical Results at the
Margarita Iron-Oxide-Copper-Gold Project
Vancouver, Canada – April 5, 2023 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or the
“Company”) is pleased to announce the results of it s recently completed soil geochemical survey
focused on identifying new gold and gold -copper targets at Torq’s Margarita Iron -Oxide-Copper-Gold
project located in northern Chile, 65 kilometr es to the north of the city of Copiapo (Figure 1). Extensive
leaching of copper within the top 20 – 30 metres (m) from surface was observed in the drill results from
the Falla 13 discovery, leading the Company to conduct a multi-element soil geochemistry survey across
the project area , primarily to identify gold anomalies as a proxy for copper -gold mineralization. The
results of this survey have identified targets adjacent to the Falla 13 discovery area that demonstrate its
potential for growth as well as five new target areas that have not yet been drill tested (Figure 2). The
Company is planning for a third phase of drilling at the project to test the various targets . The program
is expected to commence in Q3 of this year.
A Message from Michael Henrichsen, Chief Geological Officer:
“We are very pleased with the results from our gold and multi-element soil geochemistry grid, as it has
delineated clear target areas across the project for our next drill program . The gold results from the
untested Remolino and Cototuda targets have reaffirmed their potential and the new gold anomalies
delineated in the northern portion of the project near our Falla 13 discovery have demonstrated the
potential to define a significant IOCG system at the project.”
Falla 13 Discovery Expansion Targets:
The Falla 13 discovery on the Margarita project includes intercepts of 90 m of 0.94% copper and 0.84 g/t
gold (22MAR-013R) and 98 m of 0.68% copper and 0.94 g/t gold (22MAR-014R) within a defined 800 m
long mineralized body . The results of the phase two drill programs demonstrated that the mineralized
system is open along strike to the north -northwest, with the most northerly dril l hole, 22MAR -022R,
intersecting 48 m of 0.37 g/t gold and 0.26% copper (including 20 m of 0.47 g/t gold and 0.35% copper).
Gold geochemistry results have supported th e potential to expand mineralization along strike to the
north-northwest by 500 m, with gold values observed to the north being comparable to those observed
over the Falla 13 discovery (Figure 3).
The Company believes there is the potential for flat lying Manto -style mineralization immediately to the
west of the Falla 13 discovery area , where drilling and mapping have defined a mineralized permeable
contact horizon between the volcanics and intrusives, located at a depth of approximately 100 m (Figure
4). In this case , the sub -vertical Falla 13 structure acts as a feeder where ascending mineralized
hydrothermal fluids can flow laterally along the permeable contact between the volcanics and intrusives,
demonstrating the potential to extend the known mineralization considerably . In addition, a second
parallel structure has been recognized 300 m to the east of Falla 13 structural corridor. Gold
geochemistry results from the parallel structure are consiste nt with results observed along the Falla 13
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
discovery and provide a 500 m long north-northwest oriented target that is undrilled (Figure 3). Finally,
the west-northwest structures that link the two parallel structures are all deemed to be targets, with drill
hole 22MAR-023 intersecting 130 m of 0.36 g/t gold and 0.28% copper (including 30 m of 1. 02 g/t gold
and 0.57% copper) across one of the west-northwest oriented structures.
Undrilled Targets:
The gold geochemistry results have delineated five target areas that have not been drill tested. The
highest priority target is the Remolino target , which is characterized by a 1,300 m x 200 m gold-in-soils
anomaly that coincides with a magnetic , conductivity and chargeability highs (Figures 5 - 7). The
Remolino target is located along a prominent west -northwest trending structural corridor along the
southern margin of the Remolino dome complex , with soil values of up to 1.89 g/t gold, including seven
samples along the anomaly that were above 0.1 g/t gold. These samples represent some of the highest
soil values from across the property and geophysical responses are similar to what has been observed
at the Falla 13 discovery, demonstrating that the Remolino target has strong discovery potential.
The Margarita North, Cototuda and target areas in the southern half of the property have produced robust
gold-in-soil anomalies that the Company believes require drill testing. The Margarita North target area is
characterized by a 500 m by 100 m gold-in-soils anomaly that is situated at the intersection of the north-
northeast trending Margarita structural corridor and the west -northwest trending Remolino structural
corridor (Figure 2). The Margarita North target is located to the north and along strike from the historical
1990’s exploration that encountered copper oxide mineralization and the Company believes that this
target has the potential to represent a sulphide source to t hat mineralization. The Cototuda target was
delineated by a gold-in-soils anomaly measuring approximately 500 m by 300 m and is associated with
diorite and monzodiorite porphyry bodies. The geophysical signature from the Cototuda target is similar
to that of the Falla 13 discovery and the Remolino target area in that it is characterized by magnetic and
conductivity highs (Figures 5 – 6).
Two prominent gold-in-soil anomalies have been identified in the northern third of the project within areas
of generally poor outcrop exposure. These anomalies are currently considered early-stage and therefore
the Company plans to conduct additional mapping in order to advance them to drill stage.
The anomaly in the northwest area of the project , known as the Mete orological Station target, has a
dimension of approximately 600 m by 350 m and is associated with mapped rhyodacitic-hematite-silica-
breccia bodies that are commonly mapped at the contact between volcanic rocks and underlying
intrusives (Figure 2). This target area is associated wi th magnetic, conductivity and chargeability highs,
giving it similar geophysical and geological characteristics as the Falla 13 discovery (Figures 2, 5 – 7).
The anomaly is contained within a structural block , bound by both north -northwest trending and west -
northwest trending faults with mapped flat-lying breccia bodies that indicate the potential to host flat -
lying manto-style mineralization.
The anomaly in the northeast area of the project is approximately 700 m by 450 m in dimension and is
hosted in an area that is characterized by rhyodacitic, quartz -feldspar porphyries and rhyodacitic -
hematite-silica-breccia bodies (Figure 2) . The anomaly is bound by two north -northwest structures ,
representing a similar structural setting as the Falla 13 discovery, and is characterized by a strong north-
northwest trending conductive anomaly with moderate chargeability. This early -stage target requires
additional geologic mapping to determine the potential geometries of mineralization , with the aim of
advancing to drill stage in the coming months.
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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 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 2: Illustrates newly identified targets based on gold-in-soils geochemistry across the property. Gold geochemistry results
have demonstrated the potential for growth at the Falla 13 discovery , both along strike to the north-northwest as well as along
a parallel structure to the east. In addition , five undrilled anomalies were defined across the project area , which will also be a
focus for the planned upcoming drill program that is expected to commence in Q3 of 2023.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 3: Illustrates a close-up view of the gold-in-soil results at the Falla 13 discovery area. The gold geochemistry demonstrates
the potential to extend the mineralization by 500 m to the north -northwest along the Falla 13 structural corridor. In addition, a
parallel structure identified 300 m to the east of the discovery provides a 500 m long target.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 4: Illustrates a cross -section of the Falla 13 discovery and the potential for flat lying manto -style mineralization to the
west of the defined mineralization along the permeable and well -mineralized contact between the volcanics and intrusives at
shallow depths.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 5: Illustrates a target summary from across the project area based on magnetic anomalies and gold-in-soils geochemistry
data. Note that the magnetic high anomalies are highlighted by the colour red.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 6: Illustrates a target summary from across the project area based on resistivity and gold -in-soils geochemistry data.
Note that conductive anomalies are highlighted by the colour purple, indicating the potential for hydrothermal alteration.