Vancouver, British Columbia--(Newsfile Corp. - August 10, 2022) - Torr Metals Inc. (TSXV: TMET) ("Torr" or the "Company") is pleased to announce results from the compilation of 522 historical soil samples collected at the Gnat Pass copper-gold porphyry deposit and adjacent areas. From this analysis the Company has delineated the core to the Gnat Pass porphyry deposit (the "Hill Zone") defined by a broad >100 ppm copper (Cu) envelope that extends >850 metres in strike-length and >500 metres in width, remaining open to the north and is coincident with an induced polarization (IP) resistivity signature (Figure 1.A). Partially overlapping a portion of the Hill Zone is a >20 ppb gold soil anomaly with 19 historical soil samples outlining a footprint measuring 450 metres by 350 metres. Additionally, the Company has delineated two new zones at Gnat West and Gnat South where historical gold and copper anomalies have never been directly or systematically drill tested (Figure 1.A, B). The road-accessible Gnat Pass copper-gold porphyry deposit is located within 1.5 kilometres (km) of Highway 37 in the northeast portion of Torr's 100% owned 689 km2 Latham Project, within the prolific Golden Triangle region of northern British Columbia.
Malcolm Dorsey, President and CEO, commented, "The compilation of these historical soil results highlights the strength and significant upside potential to the gold content at the Gnat Pass copper porphyry deposit and peripheral zones, where assaying for gold has remained largely neglected. The extent and grade of these historical soil survey results are also very encouraging, suggesting strong comparisons to the initial work conducted at the nearby Saddle North1 copper-gold porphyry deposit located 51 km to our south. With this data and the compilation of all historical drilling we plan to test the grade and extent of copper-gold mineralization as well as expansion potential of the Gnat Pass deposit in our upcoming 2022 drill program."
Gnat Pass Deposit Highlights
Multiple untested peripheral copper and gold soil anomalies at the Gnat West and Gnat South Zones, including a significant gold-in-soil anomaly measuring 500 metres by 600 metres that remains untested to the south of the Gnat Pass deposit (Figure 1.B.)
>100 ppm copper envelope of 109 historical soil samples that extends >850 metres in strike-length and >500 metres at the Hill Zone. Within this envelope are 41 historical soil samples that define an elevated >400 ppm north-south trend to higher-grade copper mineralization. Potential extension of copper and gold mineralization remains open to the west and south of the Hill Zone, where historical soil sampling was hampered by poor soil development and till deposits. The Hill Zone soil anomalies also remain open to the north beyond the extent of known historical sampling.
>20 ppb gold envelope outlined by 19 historical soil samples and measuring 450 metres by 350 metres within the central portion of the Hill Zone. A total of 7 historical soil samples outline discrete north-south linear trends of >40 ppb Au, suggesting the potential for shear-related gold enrichment within the Gnat Pass porphyry system.
The Gnat Pass area has been tested by a total of 111 historical drill holes (19,456 metres) that date from 1965-1968, 1989, and 2012. Approximately 98% of all drilling at the Gnat Pass deposit is less than 200 metres vertical depth, with 2012 drilling being the first to intercept mineralization beyond 200 metres vertical depth to over 500 metres vertical depth. This result together with historical soil anomalies would suggest that significant expansion potential exists in drilling to-depth beyond known historical depths, as well as to the west and along-strike. The largely neglected gold content within historical drill hole assays will also provide a potential significant opportunity to upgrade porphyry economics with further drilling.
Figure 1.A. Gnat Pass Deposit area showcasing anomalous copper soil contours (A) and gold soil contours (B) based on historical soil sampling. Contours overlay IP resistivity depth slice at 100 m.
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Figure 1.B. Gnat Pass Deposit area showcasing anomalous copper soil contours (A) and gold soil contours (B) based on historical soil sampling. Contours overlay IP resistivity depth slice at 100 m.
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1 2017 Drilling, Geological, Geophysical & Geochemical Exploration Program on the Tatogga Property. Assessment Report number 37059. Not necessarily indicative of mineralization on the Latham Project.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.
About Torr Metals
Torr Metals is a Vancouver based mineral exploration company focused on defining and developing the substantial exploration and resource potential of the ~689 km2 Latham Copper-Gold Project, located within the prolific Golden Triangle of northern British Columbia. Year-round access is provided by Highway 37 with the project being favourably located 16 km south of the regional airport in Dease Lake. For further details about the Latham Copper-Gold Project, please refer to the Company's website or current geological Technical Report (August 24, 2021) filed on November 25, 2021 under the Company's profile on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Torr Metals Inc.
President, CEO and Director
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Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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