VANCOUVER, British Columbia, Oct. 16, 2024 (GLOBE NEWSWIRE) -- via IBN -- Torr Metals Inc. (“Torr” or the "Company") (TSX-V: TMET.V) is pleased to announce the mobilization of field crews to undertake a large-scale surface exploration program, consisting of soil sampling and prospecting, at its 100%-owned 261 km² Filion Gold Project (the “Project”) in northern Ontario (Figure 1).
Torr's approach to the Filion Gold Project reflects a corporate strategic focus on low-cost district-scale opportunities that exhibit a high degree of prospectivity for hosting significant untested mineralizing systems that have major discovery potential. Following careful due diligence, the Project was acquired with 100% ownership through staking. Exploration commenced in late 2023, with the first-ever soil sampling program in the area targeting geophysical trends of historically documented gold occurrences in its western section. The results, announced in early 2024, delineated six substantial gold anomalies, never drill tested and adjacent to the Trans-Canada Highway, with strike lengths of up to 1,200 meters (m) and gold grades as high as 1.32 grams per tonne (g/t) gold (Au), spread across a corridor more than two kilometers wide (Figure 1).
The Filion Project, which is permitted for drilling, is ideally situated adjacent to excellent infrastructure that provides for year-round operation potential, including direct road access from the Trans-Canada Highway 11, a paralleling regional railway and provincial power grid, as well as the nearby town of Kapuskasing ~30 km to the southeast.
Highlights:
- Untested Historical Conductors and Gold Occurrences: Initial 2023 soil sampling covered just 25% of the historical VLF-EM geophysical conductors and only one of the historical gold occurrences, Millar East, where historical grades of up to 91.4 g/t Au over 0.3 m were reported in channel sampling1. Torr plans a significant expansion with its initial 2024 program consisting of an 8.8 km² soil and prospecting grid targeting the remaining 75% of conductors and historical gold occurrences across a 6 km strike length (Figure 1).
- Detection of Multiple Unreported Historical Trenches using LiDAR: Using advanced LiDAR (Light Diffraction and Ranging) technology Torr has also discovered 17 unreported historical trenches as well as 18 new rock outcrops (Figure 1) within the trend of historical VLF-EM conductors. These results are highly significant in a region of thin till cover, providing targeted high-priority locations for additional sampling and mapping during the 2024 field program.
- Undrilled High-Potential Gold Anomalies: None of the delineated 2023 gold soil anomalies have been tested by drilling, yet historical drill hole 88-7 provides compelling evidence for significant subsurface alteration and mineralization despite not reporting any assays. Located over 1,300 m along strike from a key 150 m-wide soil anomaly coincident with Conductor #2 (Figure 1), the hole intersected 73.2 m of highly prospective silica-sericite-tourmaline alteration with pyrite-arsenopyrite mineralization hosted in quartz veining. This style of alteration and mineralization, together with intensification reportedly associated with a quartz-feldspar porphyry unit, aligns with characteristics seen in regional gold deposits such as in the Hemlo Mine2 (Figure 2).
- Drill-Ready Gold Targets: Torr’s exploration permit, acquired in July 2024, clears the way to be the first to drill these gold targets, with the potential for a major new grassroots discovery.
"We're thrilled to mobilize field crews to the Filion Gold Project, where the untapped exploration potential is vast, spanning an unexplored 42 km structural corridor known for hosting high-grade gold," said Malcolm Dorsey, president and CEO of Torr Metals. "Our 2024 program will focus on testing unexamined conductors, historical gold occurrences, and advancing the significant anomalies from 2023. Combined with new LiDAR data revealing untested outcrops and undrilled high-priority targets, this large-scale effort sets the stage for major grassroots discoveries in this highly prospective but underexplored region.”
1Luhta, L. 1985. Ontario Ministry of Natural Resources, Timmins. Resident Geologist files T-0201. Certificate not available.
2Technical Report on the Hemlo Mine, Marathon Ontario, Canada, NI 43-101 Report, April 25, 2017.
Quality Assurance and Control
Results from samples will be analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the “B” horizon soil samples undergo screening to 180 microns under the ALS code PREP-41. The samples are digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Filion Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control (“QA/QC”) measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.
Qualified Person
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, based in Vancouver, BC, is committed to advancing its 100% owned, district-scale copper-gold porphyry and orogenic gold projects in highly accessible regions across Canada. Each project benefits from excellent access to provincial and regional mining infrastructure, enabling cost-effective development and year-round exploration potential. The 240 km² Kolos Copper-Gold Project, located in the prolific Quesnel Terrane, sits just 30 km southeast of Canada’s largest open-pit copper mine at Highland Valley and 40 km south of Kamloops along Highway 5. The 261 km² Filion Gold Project lies in northern Ontario adjacent to the Trans-Canada Highway 11, approximately 42 km northwest of Kapuskasing. Filion encompasses an unexplored greenstone belt with high-grade gold potential just 202 km by highway from the world-class Hollinger, McIntyre, and Dome mines of the Timmins mining camp. For more information, visit Torr Metals’ website or view documents on SEDAR at www.sedarplus.com.
On behalf of the Board of Directors
Torr Metals Inc.
"Malcolm Dorsey"
Malcolm Dorsey
President, CEO and Director
For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email: malcolmd@torrmetals.com
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 press release.
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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