Torq Identifies Mineralized Surface Porphyry Targets Adjacent to Caspiche Deposit at its Santa Cecilia Gold-Copper Project
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Torq Identifies Mineralized Surface Porphyry Targets Adjacent to Caspiche
Deposit at its Santa Cecilia Gold-Copper Project
Vancouver, Canada – July 19, 2023 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or the
“Company”) is pleased to announce the results from its rock sampling program from the eastern region
of the Santa Cecilia gold – copper project located in the world -class Maricunga belt in northern Chile,
approximately 100 kilometres (km) east of the city of Copiapo. The project is located immediately
adjacent to the Norte Abierto project, held by Newmont and Barrick, which is comprised of the Caspiche
and Cerro Casale gold – copper porphyry deposits (Figure 1).
The rock sampling program in the largely unexplored eastern region of the Santa Cecilia project consisted
of a total of 196 samples. The program was designed to follow up on new soil anomalies identified during
Torq’s 2023 surface exploration program , with the aim of identifying either outcropping or shallow
porphyry targets in the eastern region of the project. The Company’s technical team has found that the
results from the rock sampling program positively corroborate the soil geochemistry targets from both
the Pircas Norte and Gemelos Norte target areas. These areas will be prioritized for the next phase of
drilling, anticipated to begin in Q4 2023.
Both the Pircas Norte and Gemelos Norte targets demonstrate surface porphyry -style mineralization ,
where gold-bearing sheeted quartz-magnetite-pyrite veinlets are encountered within dioritic and dacitic
porphyry bodies, respectively (Figures 1-3). The Pircas Norte and Gemelos Norte target areas are covered
by extensive colluvium and have dimensions of 750 metr es (m) by 70 0 m and 700 m by 500 m ,
respectively.
At Pircas Norte , highlights from selective rock sampli ng targeting porphyry -style veining include gold
grades of 0.3 g/t to 0.83 g/t in banded quartz-magnetite-pyrite veinlets with copper grades ranging from
438 parts per million (ppm) to 0.44%. At the Gemelos Norte target , highlights from the selective rock
sampling targeting porphyry style veining include gold grades of 0.13 g/t t o 1.49 g/t. In addition, at
Gemelos Norte, two epithermal veins sampled on the southwestern edge of the target area had gold
grades of 12.05 g/t and 3.36 g/t and 2.3% copper and 285 ppm copper, respectively. Collectively, the rock
sampling results from both Pircas Norte and Gemelos Norte demonstrate mineralized gold – copper and
gold porphyry systems that have not been drill tested. A summary of these results is presented below in
Table 1.
A Message from Shawn Wallace, CEO & Chair:
“This is an exciting advancement at our flagship Santa Cecilia project where we have just recently
completed our inaugural drill program. Results are forthcoming from the two completed drill holes, which
stepped out from a historical discovery, and we now have further refined additional targets on the project
to prioritize in our planned drill program later this year. In addition to this, we are currently preparing to
commence our third drill program at our Margarita IOCG project at the end of this month, where we have
a new discovery to follow-up on as well as multiple undrilled targets with discovery potential.”
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
A Message from Michael Henrichsen, Chief Geological Officer:
“The recognition of outcropping porphyry mineralization at both Pircas Norte and Ge melos Norte, which
are adjacent to Newmont and Barrick’s Caspiche deposit, has been a significant advancement for the
Company in the largely unexplored eastern half of the property. We view both targets as high priority for
our planned drilling in Q4 of this year as we believe they represent the potential for a discovery, similar in
nature to the Caspiche deposit.”
New Target Area: Filo Gemelos
A new target area has been identified in the southeast corner of the project area based on the final results
of the property wide soil survey that was conducted on a 70 m by 70 m offset grid. The Filo Gemelos
target measures 450 m by 300 m and is characterized by both elevated gold and molybdenum values
showing a clear porphyry style signature (Figures 4 & 5). Initial rock samples taken from Filo Gemelos
that show porphyry style quartz banded veinlets have gold grades of 0.11 g/t and 0.26 g/t. The soil survey
results in conjunction with the initial rock sampling results demonstrate further work is warranted at the
target area to advance it to drill stage.
Table 1: Highlights of rock samples targeting porphyry style veining
Target Sample ID Au (g/t) Sample ID Au (g/t)
Pircas Norte
A109092 0.83 A109012 0.36
A109014 0.72 A109127 0.34
A109002 0.45 A109015 0.32
A109218 0.44 A109126 0.30
Gemelos Norte
A109163 12.05 A111994 0.75
A109164 12.05 A111992 0.17
A109172 3.36 A109166 0.13
A113060 1.54 A109167 0.13
A109174 1.50 A109165 0.13
A111995 0.81
Filo Gemelos A111964 0.26 A111983 0.11
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 1: Illustrates the location of the Santa Cecilia project and the surrounding Caspiche and Cerro Casale deposits, held by
Newmont and Barrick in the Norte Abierto joint venture, within the Maricunga belt.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 2: Illustrates rock results from outcropping porphyry targets in the eastern region of the Santa Cecilia project within 1 –
2 km of the Caspiche deposit. These targets areas will be prioritized for the upcoming drill program, which is expected to begin
in Q4 of this year.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 3: Illustrates depicts typical banded quartz – magnetite – pyrite veinlets hosted within dacite and diorite porphyries from
the Gemelos Norte and Pircas Norte target areas, respectively.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 4 : Illustrates gold -in-soil anomalies fr om the completed soil survey at the Santa Cecilia property. Importantly , in the
southeast corner of the property, Filo Gemelos represents a new gold-in-soils anomaly that is coincident with molybdenum. This
signature in the soil survey is similar to that observed at the Pircas Norte and Gemelos Norte porphyry targets.
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
Figure 5: Illustrates molybdenum-in-soils anomalies from the completed soil survey at the Santa Cecilia property. Importantly ,
in the southeast corner of the property , Filo Gemelos represents a new molybdenum-in-soils anomaly that is coincident with
gold. This signature in the soil survey is similar to that observed at the Pircas Norte and Gemelos Norte porphyry targets.
Michael Henrichsen, P.Geo. (the Company’s Chief Geological Officer), is the qualified person who
assumes responsibility for the technical contents of this press release.
Torq also announces that on April 3, 2023, it engaged an arms -length securities dealer, Red Cloud
Securities Inc. (“Red Cloud”) to provide market making services at a cost of $15,000 per quarter, payable
in advance, under an agreement which is cancellable at any time with 30 days' notice. Two quarters have
already been paid for. Red Cloud uses its own funds for the market making activities. No securities are
involved in the arrangement; however, Red Cloud did act as an agent in the Company’s March 2023
private placement financing , receiving 210,362 broker warrants , exercisable at $ 0.60 until March 10,
2025.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
For further information on Torq Resources, please contact Natasha Frakes, VP, Communications, at
(778) 729-0500 or [email protected].
About Torq Resources
Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company
is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable
practices. The Company was built by a management team with prior success in monetizing exploration assets and its
specialized technical team is recognized for their exten sive experience working with major mining companies, supported by
robust safety standards and technical proficiency. The technical team includes Chile -based geologists with invaluable local
expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest
standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more
information, visit www.torqresources.com.
Rock Sampling
Approximately 2 -4 kg of material was collected for analysis and sent to ALS Lab in Copiapó, Chile or La Serena, Chile for
preparation and the n to Santiago, Chile and Lima, Peru for analysis. All samples are assayed using 30 g nominal weight fire
assay with AAS finish (Au-AA23) and multi-element using four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-AA23
results were greater than 10 pp m Au the assay were repeated with 30 g nominal weight fire assay with gravimetric finish (Au -
GRA21). Where MS61 results were greater or near 10 ,000 ppm Cu the assay were repeated with ore grade four acid digest
method (Cu-OG62). QA/QC programs for 2022-23 rock samples using internal standard samples and duplicates, lab duplicates,
standards and blanks indicate good accuracy and precision in a large majority of standards assayed.
Soil Sampling
Approximately 1-3 kg of soil material was collected on a 70 m x 70 m grid and sent to ALS Lab in Copiapó, Chile or La Serena,
Chile for preparation and then to Santiago, Chile and Lima, Peru for analysis. All samples are assayed using 30 g nominal weight
fire assay with AAS finish (Au -AA23) and multi -element super trace four acid digest ICP -AES/ICP-MS method (ME -MS61L).
QA/QC programs for 2022 -2023 soil samples using internal standard samples and duplicates, lab duplicates, standards and
blanks indicate good accuracy and precision in a large majority of standards assayed.
Forward Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking information in this
release are statements that relate to plans for future exploration programs. These statements involve known and unknown risks,
uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially
different (either positively or negatively) from any future results, performance or achievements expressed or implied by some of
the principal forward -looking statements. See Torq’s Annual Information Form filed March 27, 2023 at www.sedar.com for
disclosure of the risks and uncertainties faced in this business.
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 release.