Torq Identifies New Porphyry Targets at the Santa Cecilia Gold-Copper Project
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Torq Identifies New Porphyry Targets at the Santa Cecilia Gold-Copper
Project
Vancouver, Canada – May 3, 2023 – Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF) (“Torq” or the “Company”)
is pleased to announce the results of its 85% completed soil survey from the Santa Cecilia gold – copper project
located in the world -class Maricunga belt in northern Chile, approximately 100 kilomet res (km) east of the city of
Copiapo. The project is located immediately adjacent to the Norte Abi erto project hel d by Newmont and Barrick,
which is comprised of the Caspiche and Cerro Casale gold – copper porphyry deposits (Figure 1).
The results of the soil survey are based on a total of 1 ,503 of 1,735 soil samples that have been collected on a 70
metre (m) by 70 m grid across the Santa Cecilia hydrothermal system. The results indicate a total of seven porphyry
targets, one of which is being drilled in the current program . The soil geochemistry results , in conjunction with
structural mapping, have divided the property into seven distinct structural blocks that are interpreted to represent
different levels of an idealized porphyry system (Figures 2 - 3). Each of the blocks acts independently from the other
with different levels of porphyry emplacement observed and with the block bounding structures representing
prospective structural corridors for the emplacement of high -grade causative intrusions. The Company’s technical
team believes each target area has the potential for a major porphyry discovery.
A Message from Michael Henrichsen, Chief Geological Officer:
“The seven porphyry targets we have identified demonstrate the potential for multiple major porphyry discoveries
at Santa Cecilia. We believe the adjacent Norte Abierto project owned by Newmont and Barrick is part of a cluster
of porphyries that exist within the more than 10 square kilometr e hydrothermal system that defines the Santa
Cecilia project. The soil geochemistry has provided the Company with a clear data layer that can be used to target
the mineral endowment. The positive correlation between mapped structures and geochemistry demonstrates that
we are in a mineral system with high potential , predictive porphyries. We are currently completing our second drill
hole on the project before pausing the program for the Chilean winter season. W e look forward to refining our drill
plan for the newly identified porphyry targets over the coming weeks , creating a pipeline of targets for the
continuation of our first phase of drilling at the project, which is expected to commence in October.”
Target Areas:
The target areas are primarily defined by the presence of gold and molybdenum, both immobile elements that are
directly associated with observed porphyry mineralization in historical drilling and mineralized surface exposures .
In addition, the pre sence of bismuth-selenium-tellurium (Bi-Se-Te) anomalies have been used to identify thermal
plumes, which are associated with underlying porphyry systems. The presence of copper was also used to define
target areas but is considered less reliable as it is highly mobile during the weathering and overprinting that takes
place during hydrothermal events, which are associated with both the porphyry and epithermal style mineralization
that has been observed across the property.
Gemelos:
The undrilled Gemelos target is located 1.5 km southwest of the Caspiche deposit and is characterized by a 600 m
by 400 m area with strong gold and molybdenum soil anomalies (Figures 5 - 6). Within this anomalous gold and
molybdenum area , banded quartz -magnetite veinlets are observed in both d acitic porphyries and overlying
volcanics on surface, which indicates that the porphyry target is at shallow depths. In addition, a Bi -Se-Te anomaly
is observed offset to the southwest of the gold and molybdenum anomaly that could be associated with the
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observed porphyries to the northeast, as it may represent a thermal plume associated with a different porphyry
body at depth (Figure 4).
Pircas Norte:
The undrilled Pircas Norte target is characterized by a 1 km by 600 m gold – molybdenum - copper anomaly where
dioritic to quartz dioritic porphyry bodies are poorly exposed on surface (Figures 5 - 6). Three historical rock
samples taken from these porphyry bodies reported a best result of 1.4g/t gold and 0.5% copper associated with
the sheeted quartz-pyrite-chalcopyrite and banded quartz-magnetite veinlets within the porphyry bodies that exhibit
chlorite alteration after secondary biotite. The majority of the Pircas Norte block is under colluvium cover and
therefore the soil anomalies have been critical in defining the scale of the target. Due to mineralized porphyry being
present on surface no higher level Bi-Se-Te anomalies are observed in the Pircas Norte block.
Pircas Sur:
The Pircas Sur target area has five shallow (less than 150 m) historical drill holes, drilled by a major mining company
between 1988 -1990, testing for shallow oxide gold epithermal mineralization. These drill holes did not test the
underlying porphyry targets that the Company has identified. Targets within the Pircas Sur block represent a higher
level of the porphyry system , with two Bi -Se-Te anomalies overlapping with gold and /or molybdenum anomalies
(Figures 4 – 6). The western and eastern target areas within the Pircas Sur block measure 700 m by 500 m and 500
m by 400 m , respectively. These anomalies are characterized geologically by extensive silicification, vuggy silica,
quartz-alunite ledges and phreatic breccias that collectively represent a higher -level epithermal part of the system
on the project. Copper is not anomalous in the Pirc as Sur block, which is consistent with a higher level epithermal
environment.
Cerro Anillo:
The Cerro Anillo block is characterized by a 250 m wide north -east trending structural zone that represents the
boundary between the Pircas Norte and Sur blocks and the Cerro del Medio block. Both epithermal and porphyry
styles of mineralization have been observed in this structural zone where dioritic porphyries with sheeted quartz -
magnetite veinlets and abundant quartz-alunite alteration are present. The overlapping styles of mineralization have
demonstrated that this structural block has acted as a focal point for both mineralizing hydrothermal fluids and
porphyry bodies and is considered highly prospective for potential high -grade causative intrusions.
Cerro del Medio:
The Cerro del Medio block is characterized by the largest Bi -Se-Te anomaly on the property and is coincident with
gold, molybdenum and copper anomalies that are concentrated along a northeast trend over a 1.2 km by 600 m
area (Figures 4 – 7). The Cerro del Medio target area is geologically characterized on surface by epithermal style
mineralization where vuggy silica, quartz -alunite ledges and pyrite -enargite have been observed. In addition,
porphyry mineralization is observed within the t arget area where dioritic porphyries with sheeted quartz veins are
cut by later quartz -limonite veins. The large -scale nature of the thermal plume Bi -Se-Te and molybdenbum
anomalies demonstrate a large-scale porphyry system is present at depth, with the underlying 2012 discovery drill
hole of 925.7 m of 0.21 g/t gold, 0.27% copper and 82 parts per million molybdenum within wall rock demonstrating
the potential for a large -scale discovery associated with a higher -grade causative intrusion within the Cerro de l
Medio block.
Flanco Norte and Vetas Condor:
The prominent east – west trending structure that has been mapped across the project area exhibits coincident Bi-
Se-Te, copper and gold anomalies over an area of approximately 1 km by 500 m (Figures 4, 5, & 7). A drill hole from
2012 tested this area at depth and returned an intercept of 868.8 m of 0.2% copper, 156 ppm molybdenum and 0.09
g/t gold. This intercept is hosted within wall rock and Torq’s technical team believes there is the potential for a high-
grade causative intrusion along these east – west trending geochemical anomalies.
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At Vetas Condor a 500 m by 500 m gold anomaly is associated with east -trending quartz alunite ledges and
associated gold – silver epithermal mineralization (Figure 5). A historical exploration tunnel oriented sub-parallel to
the quartz alunite ledges total s approximately 1 ,100 m and has demonstrated consistent mineralization over
several hundred metres. The first 32 m of the tunnel returned 2.38 g/t gold and 101 g/t silver and the next 132 m
returned 0.66 g/t gold and 13.5 g/t silver. In addition, approximately 436 m into the tunnel , a high -grade vein
sampled 58 g/t gold and 27 g/t silver over 2 m. Three short historical drill holes were drilled near the entrance of
the tunnel and intercepted 20 m of 6.82 g/t gold and 16.8 g/t silver, including 2 m of 55 g/t gold and 121 g/t silver.
Torq’s technical team believes that the mineralization at Vetas Condor has not been adequately drill tested for the
definition of a potentially high-grade epithermal system.
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.
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Figure 2: Illustrates the presence of seven distinct structural blocks across the Santa Cecilia project. Each structural block has
important characteristics which represent different vertical levels within an idealized porphyry. The Company’s technical team
believes that the structural corridors that define the individual blocks have the potential to host high-grade causative intrusions.
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Figure 3: Illustrates an idealized porphyry section with the targets from each structural block identified. Gemelos and Pircas
Norte are believed to be partially exposed porphyry systems and Cerro del Medio, Pircas Sur and Flanco Norte represent porphyry
targets at relatively shallow depths. The Vetas Condor and Cerro Anillo blocks show the potential for higher level epithermal
targets.
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Figure 4: Illustrates bismuth-selenium-tellurium targets that represent thermal plumes above potential porphyry mineralization.
Target depths for the porphyries are based on geophysics and are thought to be within several hundred metres from surface.
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Figure 5: Illustrates gold anomalies and target areas across the project area. These gold anomalies can be directly associated
with gold mineralization associated with outcropping porphyries , as highlighted by the blue target areas at Gemelos , Pircas
Norte and Pircas Sur. The other gold anomalies associated with the thermal plumes are interpreted to have gold introduced into
the mineralized system by both porphyry and epithermal events overprinting one another.
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Figure 6: Illustrates molybdenum anomalies across th e project area that are interpreted to be directly associated with either
porphyry mineralization on surface or at shallow depths.