Torch River Resources Ltd.: Three Jays, Happy John, Monitor-Nahmint Project Fieldwork Update
Tue Jun 23, 9:00 AM
http://ca.news.finance.yahoo.com/s/23062009/28/link-f-ccnmatthews-torch-river-resources-ltd-three-jays-happy-john.html
CALGARY, ALBERTA--(Marketwire - June 23, 2009) - Torch River Resources Ltd. (TSX VENTURE: TCR.V) (PINK SHEETS: TORVF.PK) (FRANKFURT: WNF.F)
Management is pleased to announce results of geological, geochemical and geophysical mineral exploration on the Nahmint Project, located 30 km southwest of Port Alberni, BC. Historic mining took place on the Three Jays mining property in 1898 to 1902 and a total 1,100 m (3,608 feet) of cross-cut and drifts were driven from 3 levels. The mining operation produced 148,889 kilograms (328,244.1 pounds) of copper, 75,207 grams (2,417.96 troy ounces) silver, and 1,929 grams (62.018 troy ounces) gold (source: Minfile).
The mineralization consists of chalcopyrite, magnetite, bornite, and pyrite in a gangue of epidote, garnet and actinolite. Skarn type (calcic exoskarn) mineralization is known to occur as individual ore shoots from 2-8.5 meters (6.6-27.9 feet) wide and 20-45 meters (65.6-147.6 feet) in length and is hosted in Quatsino limestone and tuffs/flows of the Karmutsen Formation. The ore shoots strike E-W and dip sub-vertical and occur in several areas of the crown grant claims covering a distance of 1,500 meters (4,920 feet). In addition to skarn mineralization, disseminated mineralization is known to occur in the adjacent intrusive and volcanic rocks. The intrusive rocks nearby are Early Middle Jurassic Plutonic Suite and include granodiorite and diorite porphyry lithologies.
THREE JAYS: (Reported April 6, 2009)
Rock chip samples prefixed PAC are from the Pacific Crown Grant (90-110 meters elevation) located 1.2 kilometers east-southeast of the Three Jays Cu-Ag-Au deposit. Rock chip samples prefixed VIK are from the Viking Crown Grant (650-750 meters elevation) located 0.6 kilometers south-southeast of the Three Jays Cu-Ag-Au deposit.
Sample no Width % Cu g/t Ag g/t Au Alteration Minerals
--------------------------------------------------------------------------
PAC09AR1 0.2 m 2.41 11.2 0.450 skarn,epidote, cpy.,py.,magnetite
chlorite,
actinolite
PAC09AR2 float 1.02 0.8 0.049 skarn,epidote, cpy.,py.,magnetite
chlorite,
actinolite
PAC09AR3 0.2 m 2.39 2.5 0.063 skarn,epidote, cpy.,py.,magnetite
chlorite,
actinolite
PAC09AR4 0.3 m 0.64 0.5 0.007 skarn,epidote, azurite,
chlorite, cpy.,py.,magnetite
actinolite
PAC09AR5 float 21.02 61.8 0.475 skarn,epidote, cpy.,py.,magnetite,
chlorite, bornite
actinolite
VIK09AR1 0.3 m 10.48 46.5 0.280 skarn,epidote, cpy.,py.,magnetite
chlorite,
actinolite
VIK09AR2 float 15.01 58.9 0.070 skarn,epidote, cpy.,py.,magnetite
chlorite,
actinolite
Source for assay results: Report 2092209, Pioneer Labs, Richmond, BC
To determine lateral extent of mineral zones, a program of magnetometer geophysical surveying, and soil geochemical sampling was carried out on a 500 X 500 meter and a 300 X 400 meter area on the Pacific and Viking mineral zones respectively. Geochemical analysis of a soil sample, taken 60 meters southwest of rock chip sample PAC09AR5, returned 1,664 ppm Cu, 1.2 ppm Ag and 22 ppb Au. The old workings consist of three cuts and a 4 meter long tunnel located on the Pacific Crown Grant at 90-100 meters elevation. Cuts and tunnel targeted two parallel shear zones that contain variable massive magnetite, pyrite and chalcopyrite trending NE and dipping moderately northwest. The area of the old workings was surveyed with a magnetometer (GEM GSM-19T) resulting in a 250-350 nT negative magnetometer anomaly (and 100 m to the north of a 600-700 nT positive anomaly).
THREE JAYS GRID: (Update)
The main feature of this grid is a 100 X 150 meter area copper in soil anomaly (greater than 500 ppm Cu) that correlates with the location of the old workings. The Three Jays soil grid shows a zone of gold in soil (10-245 ppb Au) in the northwest portion of the grid, and zinc in soil (100-801 ppm Zn) in the west portion of the grid. Rock chip sampling of bedrock and float returned assay values as follows:
Sample alteration minerals comments width
# (m)
----------------------------------------------------------------------------
TJ08AR2 skarn, epidote, cpy.,py sub-crop 0.15
garnet, actinolite bornite near shaft
TJ08AR3 skarn, epidote, cpy.,py shaft dump float
garnet, actinolite bornite grab
TJ08AR4 skarn, epidote, cpy.,py 345 degree 1.0
garnet, actinolite magnetite adit
(hangingwall)
Sample elevation lithology % Cu(ii) g/t Ag(i) g/t Au(i)
# (m)
----------------------------------------------------------------------------
TJ08AR2 576 marble 7.20 17.4 0.02
TJ08AR3 600 marble 2.03 22.0 0.25
TJ08AR4 544 marble 3.12 36.0 0.19
(ii) Assay (i) Geochemical Analysis by Pioneer Labs, Richmond, BC (lab
report 2082062)
Sample alteration minerals comments width
# (m)
----------------------------------------------------------------------------
TJ09AR1 skarn, epidote, cpy.,py shaft dump float
garnet, actinolite bornite grab
TJ09AR2 skarn, epidote, cpy.,py shaft dump float
garnet, actinolite bornite grab
TJ09AR3 skarn, epidote, cpy.,py sub-crop 15 float
garnet, actinolite bornite m W of shaft
Sample elevation lithology % Cu(ii) g/t Ag(i) g/t Au(i)
# (m)
----------------------------------------------------------------------------
TJ09AR1 575 marble 13.80 60.4 0.16
TJ09AR2 573 marble 15.25 52.1 0.11
TJ09AR3 570 marble 10.85 56.2 0.33
(ii) Assay (i) Geochemical Analysis by Pioneer Labs, Richmond, BC (lab
report 2092283)
A 500-1,200 nT magnetometer reading increase was noted in a 200 X 400 m area (anomaly long axis oriented roughly east-west) in the north portion of the grid located 100-300 m north of Cu in soil anomaly.
MONITOR: (Reported April 6, 2009)
The following table lists rock chip samples from the Monitor mineral occurrences, which are located 50-300 meters from tidewater, at 30-200 meters elevation, and about 100-750 meters ESE of the mouth of Handy Creek.
sample elev
no width (m) lithology minerals % Cu g/t Ag % Zn g/t Au
----------------------------------------------------------------------------
MON09AR1 float 31 basalt, cpy.,py., 5.12 9.5 0.04 0.01
andesite magnetite,
MnO2
MON09AR2 0.2 m 116 basalt, cpy.,py., 2.41 58.2 greater than 1 0.22
limestone magnetite,
sphal.
MON09AR3 0.3 m 104 basalt, cpy.,py., 0.03 0.5 0.09 0.01
limestone magnetite
MON09AR4 0.2 m 188 basalt, cpy.,py. 1.02 45.6 greater than 1 0.05
andesite hematite,
sphal.
Geochemical anomalies in soil samples on the Monitor are summarized in table
below:
----------------------------------------------------------------------------
Easting Northing Elevation m. ppm Cu ppm Ag ppm Zn
----------------------------------------------------------------------------
357800 5427900 115 778 0.9 217
----------------------------------------------------------------------------
357800 5427950 129 436 0.4 77
----------------------------------------------------------------------------
357900 5427700 55 362 0.5 968
----------------------------------------------------------------------------
357900 5427750 66 1,558 1.5 1,301
----------------------------------------------------------------------------
357900 5427800 81 332 1.3 1,350
----------------------------------------------------------------------------
A magnetometer survey of the Monitor mineral zones shows a 300-500 nT positive anomaly on Easting 357800, station 5427850-5427900 N, located immediately south of the Cu in soil anomaly on L 357800 E.
HAPPY JOHN GRID: (Update)
Soil samples taken over the Happy John revealed a widespread zinc in soil anomaly (i.e. 27 out of 43 samples taken returned between 104 to 4430 ppm Zn). The Zn in soil anomaly roughly correlates with weakly anomalous Cu (i.e. 14 out of 43 samples taken returned between 109 to 293 ppm Cu). Above average Au values occur throughout the Happy John No 2 grid (10 soil samples with 14-75 ppb Au), and in the north and south portions of Happy John No 4 grid (7 soil samples with 12-58 ppb Au).
Rock chip samples from the Happy John grid gave the following results:
sample width elev (m) lithology minerals % Cu g/t Ag g/t Au
no
HJ09AR1 0.2 m 95 basalt, limestone cpy.,py., 8.1 35.1 0.06
magnetite
HJ09AR2 float 336 basalt, andesite cpy.,py., 0.13 3.8 0.04
magnetite,
HJ09AR3 0.2 m 407 basalt, limestone cpy.,py., 7.05 25.3 0.01
magnetite
Magnetometer readings were taken over the Happy John No 2 and No 4 grid. The west portion of the No 2 grid has a zone of above average readings.
Further mapping, soil geochemical surveys, rock chip sampling, magnetometer geophysical surveys in the area of the Orphan Boy, Black Prince, Saucy Lass, and Sunshine copper skarn showings is planned. Further evaluation of Cu-Zn-Ag-Au mineral zones on the Nahmint Property will be directed at zones of economic importance (i.e. significant grade and tonnage). Rock chip, soil sampling and magnetometer surveys were carried out by Andris Kikauka, P.Geo., a Qualified Person for the purposes of NI 43-101.
Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.
For all Torch River investor relations needs, investors are asked to visit the Torch River IR Hub at http://www.agoracom.com/IR/Torchriver where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to tcr@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the Nahmint Property. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.
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.
Contacts
William E. Pfaffenberger
Torch River Resources Ltd.
President and Chief Executive Officer
(403) 444-6888
Website: www.torchriver.ca
Local Vancouver: (604) 541-1995
ProActive Communications Co.
Or Toll Free: 1-800-540-1995
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