Torq to Initiate Follow-Up Drill Program to Margarita IOCG Discovery in Chile

Rhea-AI Summary

Torq Resources Inc. (OTCQX: TRBMF) announced plans for a follow-up drill program at its Margarita IOCG project in Chile, following a significant discovery in drill hole 22MAR-013R, which intersected 90m of 0.94% copper and 0.84 g/t gold. The program will consist of approximately 4,000m of reverse circulation drilling, focusing on a 1km strike length along the Falla 13 structure. Scheduled to begin in June, road and drill pad construction is underway. Executive Chair Shawn Wallace emphasizes the potential for a world-class discovery.

Positive

• Significant discovery in drill hole 22MAR-013R with 90m of 0.94% copper and 0.84 g/t gold.
• Follow-up drill program consists of 4,000m of reverse circulation drilling.
• Drilling focuses on a 1km strike length along the promising Falla 13 structure.
• Scheduled start of drilling program in June indicates proactive exploration efforts.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 19, 2022 / Torq Resources Inc. (TSXV:TORQ), (OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce plans for a follow-up drill program to expand upon the new discovery made at its Margarita Iron-Oxide-Copper-Gold (IOCG) project, where drill hole 22MAR-013R intersected 90 metres (m) of 0.94% copper and 0.84 g/t gold (see May 2, 2022 news release). The follow-up drill program will consist of approximately 4,000 m of reverse circulation (RC) drilling and will focus on testing an approximately 1-kilometre (km) strike length along the Falla 13 structure, which demonstrates the same geological, geochemical and geophysical characteristics as seen in the discovery drill hole (Figures 1 - 3). The program is scheduled to begin in June, with construction on roads and drill pads starting this week.

A Message from Shawn Wallace, Executive Chair:
"It is very seldom in modern mineral exploration that a company is fortunate enough to make a bona fide new discovery with the potential for world-class size and grade. Our in-country team is working hard to prepare for this follow-up drill campaign, which we anticipate commencing in the first week of June. We look forward to building upon the potential that the discovery in hole 13 represents."

Figure 1: Illustrates the position of the discovery hole in the north - central region of the project along the Falla 13 structural corridor.

Figure 2: Illustrates the 900 m copper-in-soils geochemical anomaly, as defined by portable X-ray fluorescence (pXRF) along the Falla 13 structural corridor.

Figure 3: Illustrates the magnetic high associated with the mineralization encountered in drill hole 22MAR-013R, which is interpreted to be associated with magnetite breccia bodies and associated copper - gold mineralization.

Michael Henrichsen P.Geo, Torq's Chief Geological Officer, is the qualified person as defined by NI 43-101 (Standards of Mineral Disclosure) who assumes responsibility for the technical contents of this press release.

ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chair

For further information on Torq Resources, please visit www.torqresources.com or contact Natasha Frakes, Vice President of Corporate Communications at (778) 729-0500 or info@torqresources.com.

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 extensive 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.

Margarita Drilling
Analytical samples were taken using 1/8 of each 2m interval material (chips) and sent to ALS Lab in Copiapo, Chile for preparation and then to ALS Labs in Santiago, Chile and Lima, Peru for analysis. Preparation included crushing core sample to 70% < 2mm and pulverizing 250g of crushed material to better than 85% < 75 microns. All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-AA23), multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61), and copper sulphuric acid leach with AAS finish (Cu-AA05). Where MS61 results were greater or near 10,000 ppm Cu the assay were repeated with ore grade four acid digest method (Cu-OG62). Where Au-AA23 results were greater than 10 ppm Au the assay were repeated with 30 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs for 2022 RC drilling samples using internal standard samples, field and lab duplicates, standards and blanks indicate good accuracy and precision in a large majority of standards assayed.

True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.

Canadian mineral terminology and standards differ from those of other countries. The Company's public disclosure filings highlight some of these differences.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information 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 such forward-looking statements. See Torq's public filings 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.

SOURCE: Torq Resources Inc.

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https://www.accesswire.com/701989/Torq-to-Initiate-Follow-Up-Drill-Program-to-Margarita-IOCG-Discovery-in-Chile

FAQ

What is the significance of the discovery at Margarita by Torq Resources?

The discovery at Margarita indicates a potential for world-class copper and gold mineralization, highlighted by drill hole 22MAR-013R showing 90m of 0.94% copper and 0.84 g/t gold.

When will the follow-up drilling program at Margarita start?

The follow-up drilling program at the Margarita project is scheduled to begin in June 2022.

How much drilling will Torq Resources conduct at Margarita?

Torq Resources plans to conduct approximately 4,000 meters of reverse circulation drilling at the Margarita project.

What geological features are being targeted in the Margarita drilling program?

The drilling will focus on a 1-kilometer strike length along the Falla 13 structure, which shows similar geological and geochemical characteristics as the initial discovery.