Welcome to our dedicated page for Torq Resources news (Ticker: TRBMF), a resource for investors and traders seeking the latest updates and insights on Torq Resources stock.
Torq Resources Inc. (TRBMF) delivers focused copper and gold exploration across Chile's premier mining districts. This news hub provides investors with essential updates on project developments, technical milestones, and corporate strategy.
Access authoritative reporting on drilling results, resource estimates, and strategic partnerships. Our curated collection includes earnings announcements, joint venture details, and operational progress reports from Chile's mineral-rich regions.
Key updates cover geophysical surveys, permit acquisitions, and management insights. Track the company's systematic exploration approach through verified technical disclosures and market communications.
Bookmark this page for streamlined access to TRBMF's evolving story in mineral exploration. Regular updates ensure stakeholders maintain current awareness of Chilean operations and corporate developments.
Torq Resources announced significant findings at the Falla 13 discovery within its Margarita project in northern Chile, revealing a gold-copper mineralized system over 800 meters. Highlights from the reverse circulation drill program include:
- 64 meters of 0.63 g/t gold and 0.63% copper in drill hole 22MAR-017R
- 130 meters of 0.36 g/t gold and 0.28% copper in hole 22MAR-023R
- 62 meters of 0.51 g/t gold and 0.38% copper in hole 22MAR-024R
The company's ongoing exploration plans include additional drilling and geochemical surveys to expand the mineralized area.
Torq Resources Inc. has successfully completed a C$15 million non-brokered private placement with Gold Fields Limited, resulting in Gold Fields owning approximately 15.05% of Torq's shares. The placement involved issuing 15 million shares at $1.00 each. The raised funds are designated for advancing Torq's Santa Cecilia gold-copper project in Chile, with exploration activities expected to commence in October 2022. Torq also anticipates releasing assay results from its Margarita project soon.
Torq Resources has successfully extended its discovery at the Margarita Iron-Oxide Copper Gold (IOCG) project in Chile by 190 metres. Drill hole 22MAR-014R revealed 98 m of 0.94 g/t gold and 0.68% copper from depths of 32 m to 130 m. This follows the earlier hole 22MAR-013R, which intersected 90 m of 0.84 g/t gold and 0.94% copper. The company's phase II drill program is complete, totaling 4,000 m. Further results are expected soon, and there are plans for a phase III drilling program.
Torq Resources has announced a strategic C$15 million investment from Gold Fields, aimed at advancing its Chilean projects, particularly the Santa Cecilia gold-copper project. Gold Fields will acquire 15 million shares at C$1.00 each, representing a 23% premium over the recent market price, resulting in ownership of approximately 15.05% of Torq. The funds will support drilling activities following a recent 7-year social access agreement. The deal also includes conditions for share ownership and the establishment of an advisory technical committee.
Torq Resources Inc. (TRBMF) reported the results of its Annual General Meeting held on August 18, 2022, in Vancouver. A total of 23,348,644 common shares, representing 27.57% of outstanding shares, were present at the meeting. All director nominees received overwhelming support, with votes for Shawn Wallace at 99.98% and other nominees receiving over 99% approval. Shareholders also approved the reappointment of Deloitte LLP as auditor and continued the 10% rolling share option plan, with 7,782,500 options already issued.
Torq Resources Inc. (OTCQX: TRBMF) has identified new high-priority targets at the Margarita Iron-Oxide-Copper-Gold project in northern Chile. The Remolino and Cototuda east targets share geological and geochemical similarities with the successful Falla 13 discovery, which revealed a significant intersection of 0.94% copper and 0.84 g/t gold over 90 meters. A phase III drill program is planned to test these new areas. Additionally, Torq's ongoing phase II drilling program aims to further expand the Falla 13 discovery, with results expected in October.
Torq Resources Inc. (OTCQX: TRBMF) has initiated its follow-up drill program at the Margarita IOCG project in Chile after a promising first drill campaign. The initial phase uncovered 90 meters of 0.94% copper and 0.84 g/t gold. The new drilling aims to cover approximately 4,000 meters over a 1 km stretch of the Falla 13 corridor, which shows strong geochemical and geophysical signatures. The company expresses confidence in expanding the initial mineralization discovery, highlighting the corridor's geophysical characteristics as potential indicators of a significant copper-gold deposit.
Torq Resources Inc. (OTCQX:TRBMF) has amended its C$3 million credit facility, initially announced on June 23, 2022. The amendment allows for an immediate advance of C$2 million with a 9% annual interest rate. In exchange, the company will issue 3,333,333 warrants at C$0.60 per share, exercisable over two years. Additional warrants will be provided upon future drawdowns. This facility is secured and subject to standard covenants, pending the execution of a definitive agreement and TSX Venture approval.
Torq Resources Inc. (OTCQX: TRBMF) has secured a C$3 million two-year credit facility from an arms-length lender, with $500,000 available immediately. The facility incurs a 9% annual interest and includes a 1% commitment fee along with 4,347,826 share purchase warrants exercisable at C$0.69. The loan is secured by a general security agreement and is subject to customary covenants, pending TSX Venture approval. The warrants have specific exercise limitations and are subject to a four-month hold period.
Torq Resources has announced management changes, appointing Shawn Wallace as CEO and Michael Kosowan as Vice President of Capital Markets. Wallace will continue as Chair of the Board. The company is also creating a new position, Lead Independent Director, filled by Steve Cook. In addition, Tracy George, Corporate Secretary, has been granted 25,000 options. This reorganization aims to enhance executive involvement and support capital market development.
