Torq Resources – More Information on the Discovery Announced Today at the Margarita Project
InvestorSarfari Comments:
This was a drill program at the original Margarita site that tested at 4000 meters depth. An extraordinary gold/copper find was made on the last hole #13. Strangely, this drill test was considerably north of the 12 others - which ALSO showed promising concentrations. The last drill hole was a total outcast though, which goes to show that sometimes chasing a target on an unusual trail can lead to pleasant discoveries.
There was strong speculation that copper was beneath the property, but perhaps somewhere, gold would be a larger component. The reason for this is that in Chile, copper and gold (and certain iron ores) are “bundled” together. Geologists speculate that these three elements were formed at the same time, deep within the Earth’s interior.
This is a “first-pass” test drill program and the chief geologist, Michael Henrichsen, is extremely excited and encouraged about the prospects of territory that has never been drilled before. There’s well-defined indication from the geology, geochemistry and geophysics, that the strike line may expand over one kilometer! Clearly this has opened up new target drilling areas for a second pass later in the summer – one that will dig deeper in the 4000-to-7000-meter range to confirm the suspected prize.
With this confidence, Torq Resources has purchased an additional 200 hectares at a fair price, to secure the northern area of this main find. Executive Chairman, Shawn Wallace, considers this an “enhancement” to the original project footprint while being conscious of the carrying costs of acquiring more land.
This Margarita project is conveniently located in an area with relatively less challenge. It’s close to a mining hub with road infrastructure, services and mining professionals necessary to support a year-round, climate-comfortable production… all the factors that make it very attractive to larger companies eyeballing a purchase.
KER Report May 2, 2022. Torq Resources (TSX.V:TORQ – OTCQX:TRBMF) announced a new copper-gold discovery at the Margarita Project in Chile this morning. Hole 13 intersected 90 meters of 0.94% copper and 0.84g/t gold. This hole was drilled int he north-central part of the project (see Figure 1 below for a map of the drill hole locations).
Shawn Wallace, Executive Chairman and Michael Henrichsen, Chief Geologist at Torq Resources join me to discuss the discovery. I have them recap the 4,075meter drill program and the process to the discovery hole 13. We also discuss the follow up work, still being planned, that is needed to expand on the discovery.
Click here to visit the Torq Resources website for the full news release.
For the original KER source media, please visit: http://www.kereport.com/2022/05/02/torq-resources-more-information-on-the-discovery-announced-today-at-the-margarita-project/
Figure 1: Illustrates the position of the discovery hole in the north – central region of the project along the Falla 13 structural corridor.