Torq Drills New Discovery at the Pircas Norte Target at the Santa Cecilia Gold- Copper Project; 502 Metres of 0.36 g/t Gold, and 0.078% Copper.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Torq Drills New Discovery at the Pircas Norte Target at the Santa Cecilia Gold-
Copper Project; 502 Metres of 0.36 g/t Gold, and 0.078% Copper.
Vancouver, Canada – April 18, 2024 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or
the “Company”) is pleased to announce the first set of results from the recently completed phase II drill
program at its Santa Cecilia project, located in the prolific Maricunga belt, in the Atacama region of Chile.
The program consisted of approximately 1,500 metres (m) over three diamond drill holes; two located at
the Pircas Norte target and one at the Gemelos Norte target. Drill hole 24SC-DDH-003 intercepted 0.36
g/t gold (Au) and 0.078% copper (Cu) over 502 m from 98 m down hole, including a higher-grade interval
of 0.69 g/t Au and 0.10% Cu over 20 m from 354 m down hole at Pircas Norte (Table 1). The drill hole
ended in mineralized intrusive diorite breccia due to logistical limitations and the reported inter cept
remains open. These results represent a new discovery of significant gold-copper porphyry
mineralization and confirm the Company’s exploration thesis for the broader Santa Cecilia project.
Results from drill holes 24SC-DDH004 and 24SC-DDH005 are expected in the coming weeks.
A Message from Shawn Wallace, CEO and Chair:
“We are thrilled to announce a significant gold and copper discovery at the Pircas Norte target at our
flagship Santa Cecilia project located in Chile's storied Maricunga belt. This discovery, made in our first
drill hole of the second phase of drilling, our third ever drill hole on the project, underscores the immense
potential of the untested copper porphyry targets at Santa Cecilia, which are all located within proximity,
and within the same hydrothermal alteration system, as Newmont & Barrick’s Caspiche deposit, which is
part of one of the largest undeveloped gold projects in the world.
“This achievement marks a pivotal moment for Torq Resources as it supports our primary exploration
thesis that mineralization from the Caspiche deposit may extend onto the Santa Cecilia property. We are
incredibly grateful to be the first junior exploration company to test this theory, as the project was
primarily dormant for the better part of 30 years until we acquired the option for ownership . We are
excited to continue our exploration efforts and unlock the full potential of Santa Cecilia, further solidifying
our position as a key player in the exploration of Chile’s most prolific mining belts.”
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Detailed Discussion:
The Santa Cecilia project is host to a 10 square kilometre (km) hydrothermal alteration footprint which
contains a cluster of Au-Cu porphyry targets. The identified Au-Cu porphyry targets are mineralized either
on surface or at shallow depths across approximately 4 km of strike length with very limited to no drilling
completed, providing the Company with the opportunity to discover large-scale porphyry -style
mineralization at or near surface through drilling (Figure 1). Norte Abierto’s Caspiche porphyry gold -
copper deposit, which is held in a 50/50 joint venture by Newmont and Barrick is hosted within the same
broad hydrothermal alteration footprint that extends onto Santa Cecilia.
Of the three drill holes completed in the phase II drill program, two were located at the Pircas Norte target
and consisted of approximately 600 m ( 24SC-DDH-003) and 496 m ( 24SC-DDH-005), respectively, and
404 m (24SC-DDH-004) was drilled at the Gemelos Norte target. The Pircas Norte and Gemelos Norte
targets are located within 1 - 2 km of the Caspiche deposit . Pircas Norte has the largest footprint of
observed porphyry mineralization at Santa Cecilia, measuring approximately 300 m x 400 m (Figure 2).
Most of the Pircas Norte area is covered by colluvium , however selective rock samples have returned
values between 0.35 g/t Au and 1.43 g/t Au, 0.09% Cu and 0.47% Cu, and irregular anomalies of up to 4
ppm Mo. The absence of epithermal indicators in the overburden suggests that Pircas Norte could host
a shallow porphyry system which may be easier to access. In the southern region of Pircas Norte, the
porphyry zone is in fault contact with the 600 m in diameter Pircas dacite dome system.
Drill hole 24SC-DDH-003, intersected 90.8 m of phreatomagmatic breccias, as well as the mineralized
Pircas Norte porphyritic intrusive complex, which was present to the end of the hole. Besides the gold-
copper-molybdenum porphyry style mineralization present in the area, the drilling has shown late-stage
gold-zinc mineralization, represented by pyrite, chalcopyrite, low-iron sphalerite and galena veins.
The units intersected may be summarized as follows (Figure 3):
• Phreatomagmatic breccias: associated with the Pircas dacite dome system, from surface to 90.8
m.
• Quartz diorite porphyry: from 90.8 m to 226 m, an irregular interval, including quartz diorite
intrusive breccia at different levels and strong local faulting. In this section, a 62 m interval stands
out (102 m to 164 m) averaging 0.49 g/t Au, 0.16% Cu and 12 g/t Mo. The interval shows mainly
fault breccia and a late-stage polymetallic vein.
• Diorite porphyry (amphibole-biotite): from 226 m to 432 m, possibly a late intrusive phase,
sparsely veined and low-grade (approximately 0.15 g/t Au, on average), including 34 m (282 m to
316 m) of fault breccia with veined porphyry clasts which returned 0.43 g/t Au and 0.082% Cu and
0.29% Zinc (Zn). Additionally, a large slab of intrusive diorite breccia from the underlying unit was
intercepted, from 354 m to 374 m, and returned results of 0.69 g/t Au, 0.1% Cu and 5.6 g/t Mo
over 20 m.
• Intrusive diorite breccia: from 432 m to 600 m (end of hole): brecciated, densely veined diorite
porphyry phase, with frequent small fragments of Paleocene basement. The average grade was
0.46 g/t Au and 0.088% Cu.
Drilling stopped in mineralization due to logistical limitations.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Table 1: Highlights of Torq’s drill results from its first drill hole at the Pircas Norte target at the Santa
Cecilia gold-copper project, targeting porphyry mineralization:
Hole ID From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (ppm)
24SC-DDH-003
98 600 502 0.36 0.078 7.7
incl. 66 72 6 0.37 0.009 24.9
and 102 164 62 0.49 0.158 11.6
and 188 248 60 0.39 0.088 12.4
and 254 258 4 0.26 0.028 1.7
and 282 316 34 0.43 0.082 7.1
and 340 348 8 0.22 0.105 4.6
and 354 374 20 0.69 0.1 5.6
and 432 596 164 0.46 0.088 8.4
Main interval is selected using Au grade*thickness no less than 0.5 g/t*m with average interval grade no less than 0.1 g/t, maximum
consecutive dilution 6 m; Sub-intervals are selected using Au grade*thickness no less than 1.0 g/t*m with average interval grade no less
than 0.2 g/t, maximum consecutive dilution 4 m; True widths of mineralization are unknown based on current geometric understanding of
the mineralized intervals
Next Steps:
The Company is expecting the assays from the remaining two drill holes in the coming weeks. Once
those have been received, Torq’s technical team will complete detailed geological modeling of the
porphyry system to refine additional drill targets at Pircas Norte and Gemelos Norte. The Company plans
to resume drilling in Q4 of this year, subject to financing.
Corporate Updates:
The Company is also announcing the resignation of Natasha Frakes, VP, Communications, as she moves
on to pursue new opportunities. Ms. Frakes’ last day with the Company will be April 30, 2024.
In addition, further to the Company’s news release on February 28, 2024, announcing it has engaged ITG
as a market maker, the Company confirms that ITG is solely using its own capital for all market -making
activities.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 1: Illustrates the location of the Santa Cecilia project in the Maricunga belt and in relation to the Norte Abierto joint venture, held by
Newmont and Barrick, which consists of the Caspiche and Cerro Casale deposits.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 2: Illustrates the Pircas Norte and Gemelos Norte targets and the location of the three drill holes in the recently completed drill program.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 3: Illustrates the first drill hole (24SC-DDH-003) at the Pircas Norte target with a histogram that demonstrates the distribution of copper
and gold, which is strongest in the deepest portion of the drill hole, which bottomed in mineralization.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 4: Illustrates select core photos from the upper portion of 24SC-DDH-003 at the Pircas Norte target.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Figure 5: Illustrates select core photos from the lower portion of 24SC-DDH-003 from the Pircas Norte target.
Bryan Atkinson , P.Geo ., is a “qualified person” within the meaning of Canadian mineral projects
disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this
press release.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
For further information on Torq Resources, please contact Natasha Frakes, VP, Communications, at
(778) 729-0500 or [email protected].