VANCOUVER, BC / ACCESSWIRE / September 8, 2021 / Torq Resources Inc. (TSXV:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce that it has identified three primary target areas at the Margarita Iron-Oxide-Copper-Gold (IOCG) project in northern Chile that form the basis for the upcoming 4,000 metre (m) reverse circulation (RC) drill program, slated to begin later this month (Figure 1). The targets were defined using data from recent geophysical and geochemical surveys as well as a geological mapping program.
A Message from Shawn Wallace, Executive Chairman:
"The refinement of drill targets at the Margarita project has our entire team excited about the prospectivity of the project and the real opportunity to make a major new discovery in one of the best jurisdictions for mining on the planet. We are anxiously awaiting the commencement of our drill program later this month. Furthermore, the Company is very pleased with the progress being made in the planning for the Andrea project, with work anticipated to commence in early 2022."
Exploration and Drill Targeting Update:
Torq has identified three primary target areas across the project area based on the completion of 1:2000 scale geological mapping, soil (pXRF) and rock geochemical sampling programs, and ground-based induced polarization and magnetic geophysical surveys. Geologically, the property can be broadly defined by a large-scale intrusive complex that is interpreted to be directly associated with copper-gold mineralization and by an overlying volcanic sequence that is mineralized along discrete north-northwest structural trends (Figure 2).
A Message from Michael Henrichsen, Chief Geologist:
"The Margarita project is characterized by geological features that are consistent with both IOCG and porphyry systems. The strong presence of copper oxide and gold mineralization within well-defined structural corridors that are coincident with chargeability highs and resistivity lows provides an opportunity for a major discovery at the project and we are very much looking forward to our first drill program."
The southern Margarita - Cototuda target area is characterized by a large scale 1.5 kilometre (km) by 500 m copper in soils (pXRF) geochemical anomaly that is hosted within a largely dioritic to dacitic intrusive complex (Figure 2). Copper oxide mineralization is observed both within various intrusive phases as disseminated stockwork vein zones and concentrated along the north-northwest trending Margarita and Cototuda structural trends, where shallow historical drilling has reported copper oxide mineralization within 100 m of surface (historical drilling not compliant with National Instrument 43-101). Alteration associated with the broad zone of mineralization is characterized by strong sericitic-hematite alteration with lesser potassic alteration observed within the Cototuda area.
Rock sampling within the alteration zone from this area has identified copper oxide mineralization with values up to 1.68% copper and up to 0.99 g/t gold within silica-hematite breccia bodies that occur parallel to the strong north-northwest structural trends observed within the target area (Figures 3 - 4). Rock sampling highlights are presented below in Table 1. Finally, the southern target areas are characterized by chargeability highs indicating the presence of sulphide, resistivity lows indicating hydrothermal alteration and magnetic anomalies that may be related to magnetite-copper sulphide mineralization (Figure 5).
The northern target areas are situated along the extensions of the Margarita and Cototuda north-northwest trending structures and are defined by copper in soils (pXRF) geochemical anomalies. The Cototuda North anomaly is hosted entirely within the volcanic sequence that overlies the mineralized intrusive bodies observed in the southern target area. Torq's technical team believes that there is strong potential to encounter mineralized intrusive bodies within this structural corridor based on the presence of chargeability highs, indicating the potential for sulphide mineralization, and resistivity lows, indicating the presence of hydrothermal alteration at shallow depths of approximately 150 - 300 m. The Margarita North anomaly is hosted at the sub-horizontal contact between the volcanic sequence and underlying rhyodacitic and diorite intrusions. Strong sericite-clay-tourmaline alteration has been observed at the base of the intrusive bodies, passing upward to silica-hematite-pyrite alteration located within the volcanic sequence. In addition, strong resistivity lows, indicating intense alteration, are situated at shallow depths of approximately 150 m.
Table 1: Margarita - Cototuda target area selective rock sampling highlights
Figure 1: Illustrates the location of the Margarita project within the Coastal Cordillera belt and its proximity to major deposits in the region.
Figure 2: Illustrates the location of the primary targets at the Margarita project. Note the southern target area is comprised of the Margarita and Cototuda target areas that are characterized by abundant copper oxide mineralization on surface over a 1.5 km by 500 m area within dioritic to dacitic intrusive bodies. The target areas to the north are situated along north-northwest structural trends that are interpreted to be the extensions of structures at the Margarita and Cototuda target areas.
Figure 3: Illustrates gold mineralization within the southern target areas. Gold in rock samples are contained in zones of silica-hematite breccia bodies and are considered consistent with iron-oxide-copper-gold mineralized systems.
Figure 4: Illustrates copper oxide mineralization from rock samples within the southern target area that are characterized by zones of stockwork veining.
Figure 5: Illustrates geological and geophysical cross sections from the southern target areas of Margarita and Cototuda where targets are characterized by geophysical characteristics of chargeability highs, indicating the presence of sulphide minerals, resistivity lows, indicating hydrothermal alteration, and magnetic highs, indicating the potential for magnetite - copper sulphide mineralization.
Michael Henrichsen (Chief Geologist), P.Geo is the QP who assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD,
For further information on Torq Resources, please visit www.torqresources.com or contact Natasha Frakes, Vice President of Communications at (778) 729-0500 or email@example.com.
About Torq Resources
Torq is a Vancouver-based copper and gold exploration company with an established portfolio of premium holdings in Chile. The Company was built by a management team with prior success in monetizing two well-known exploration companies. Torq is further supported by a specialized technical team, recognized for their expertise and experience working with major mining companies. This includes the Company's Chile-based technical team with a noteworthy track record for major discovery in that country. Torq's invaluable local expertise has provided the leverage and connections for the Company to continue to acquire and explore highly prospective assets in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.
Chile Rocks 2021 (Margarita)
Approximately 2-3kg of material was collected for analysis and sent to ALS Lab in Copiapo, Chile or La Serena, Chile for preparation and analysis. All samples are assayed using 30g nominal weight fire assay with ICP finish (Au-ICP21), 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). QA/QC programs for 2021 rock samples using lab duplicates, standards and blanks indicate good accuracy and precision in a large majority of standards assayed.
pXRF soil samples were collected under the supervision of Torq geologists in the field. At the proposed sample location, holes were dug to expose the B horizon (generally 30cm depth). B-horizon material was sieved passing #30 mesh to collect approximately 200 g and placed in marked sample bags. Sample site location and description were collected digitally in the field. Sample material was dried at a field lab and a split was placed in covered pXRF cups and labelled with sample ID. pXRF analysis were taken on the cups at the field lab using 3-beam 60 second soil mode on an Olympus Vanta M series unit. QA/QC measures included field site duplicates as well as regular pXRF analysis of standards and blanks at the field lab. At the beginning of the sampling program, a calibration curve correction for the Vanta pXRF unit was determined through analysis of reference material and subsequently applied to all sample analysis of the program.
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.
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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Granada Gold Mine Extends Warrant Terms
Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…
Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years. The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023. All other terms and conditions remain constant.
The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing. The amendment is subject to the approval of the TSX Venture Exchange.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
Copyright (c) 2021 TheNewswire - All rights reserved.drilling drill program drills tsxv-ggm granada-gold-mine-inc private placement press-release
Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement
Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.
The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.
Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.
Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.
Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.
On behalf of the Board of Directors of Bravada Gold Corporation
"Joseph A. Kizis, Jr."
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
Neither 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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
This news release is not intended for distribution to United States newswire services or dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635intercepts tsxv-bva bravada-gold-corporation bravada gold corporation private placement financing acquisition press-release
Commerce Resources Corp. Announces Warrant Extension and Repricing
VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…
VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Commerce Resources Corp.
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