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Torch River Res Ltd. (TCR)
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Torch Reports on Fort-Elden and Mt. Copeland Properties
http://finance.yahoo.com/news/Torch-Reports-on-FortElden-ccn-1892623560.html?x=0&.v
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Torch River Expands Fort-Elden for Copper and Zinc
http://finance.yahoo.com/news/Torch-River-Expands-FortElden-ccn-1885252641.html?x=0&.v=1
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Torch Receives Compilation Report on Fort-Elden Copper Property in B.C.
http://finance.yahoo.com/news/Torch-Receives-Compilation-ccn-2451378770.html?x=0&.v=1
Torch Receives Compilation Report on Rare Earths at Mt. Copeland
http://finance.yahoo.com/news/Torch-Receives-Compilation-ccn-3036647043.html?x=0&.v=1
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Torch River Options B.C. Copper Property
Mon Apr 12, 8:30 AM
http://ca.news.finance.yahoo.com/s/12042010/28/link-f-ccnmatthews-torch-river-options-b-c-copper-property.html
CALGARY, ALBERTA--(Marketwire - April 12, 2010) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE: TCR.V) (FRANKFURT: WNF.F) (PINK SHEETS: TORVF.PK) is pleased to announce that it has signed an option agreement (the "Omineca Option Agreement") with a private vendor under which Torch may earn a 100% interest in the 12 mineral claims comprising 1,611.5 hectares located in the Omineca Mining Division, Specularite Lake, B.C (the "Fort-Elden Property"). The Fort-Elden Property is in the Babine Lake porphyry belt region of British Columbia. This region is known for its potential for large porphyry copper, copper/gold and copper/molybdenum deposits some of which having been developed as producing mines such as the Granisle and Bell Copper Mines. The Omineca Option Agreement is subject to the final acceptance of the TSX Venture Exchange.
Terms of the Omineca Option
Under the terms of the Omineca Option Agreement, Torch shall earn up to a 100% interest in the Omineca Property by a one time payment to the vendor in the amount of $10,000, spending up to $250,000 on work programs on the Omineca Property over a period of forty-two (42) months and issuing up to an aggregate of 2 million shares to the vendor over the same time period. No finders' fee was payable with respect to the Omineca Property. Torch shall be the operator for the projects conducted on the Omineca Property.
The Omineca Property
The Fort-Elden Property is comprised of 12 mineral tenures that total 1,611.5 hectares in area. The mineral claims are located 100 km west of Fort St James, BC in an area underlain by a complex geological sequence of Permian-Triassic Takla Group/Asitka Assemblage which includes biotite metasediments/metavolcanics, peridotite, pyroxenite, and gabbro that are cut by Jurassic monzonite, diorite, and foliated quartz diorite as well as Tertiary age quartz-feldspar porphyry, monzonite, diorite, latite, extrusive equivalents and hydrothermal breccia. The property features copper-silver-molybdenum-lead-zinc-gold bearing sulphide minerals which include chalcopyrite, pyrrhotite, pyrite, molybdenite, sphalerite, galena and covelite. Associated alteration minerals include K-feldspar, sericite, kaolinite, biotite, silica, magnetite, hematite, chlorite, muscovite, jarosite, ankerite, epidote, garnet, sphene, apatite, and trace amounts of lucoxene and zircon. Mineral deposit types present on the Fort-Elden property are classified as porphyry and epigenetic characterized by disseminated, vein and breccia hydrothermal systems. Defining this target are two plus 12.5 mV chargeability anomalies flanking either side of a resistivity high with coincident copper-silver-molybdenum soil geochemical anomalies. The anomalies measure 300 m by 90 m and 300 m by 600 m, and the Elden breccia occupies a portion of one of the anomalies. The Fort-Elden Breccia mineral showings feature 8 rock chip samples (taken in a 700 X 400 m Area) that average 0.34% Cu, 72.3 g/t Ag, 0.017% Mo (with 3 of 8 rock chip samples averaging 0.41% Pb, 0.69% Zn). The Elden breccia features abundant secondary K-spar alteration, secondary green biotite, and hydrothermal silica.
The Owl showings are located 4 km east of the Elden breccia. The Owl volcanic hosted sulphide showings feature 3 Rock Chip Samples (taken in a 25 X 400 m area) that average 0.69% Cu, 13.1 g/t Ag, 0.16 g/t Au. The Owl mineral zones feature abundant secondary K-spar alteration, sericite, and hydrothermal silica. Mineralization includes chalcopyrite, pyrite, magnetite, bornite, sphalerite, galena (in quartz gangue). In 1992, Cominco carried out IP geophysics north of Owl Lake and identified a 15 mV/Volt anomaly in an area underlain by chlorite-sericite altered mafic crystal tuff, cut by crowded feldspar micro-porphyry dykes.
The Recce showings are located 1 km southeast of the Elden breccia showing. The ridge crest where the soil grid is centered has numerous anomalous copper-molybdenum geochemical anomalies (up to 371 ppm Cu and 108 ppm Mo in soil samples). There is very little outcrop in this area and may represent an extension of the Elden grid anomalies.
Torch River Resources Ltd is planning to perform mechanized trenching of the Elden breccia and related geochemical and geophysical anomalies. Additional work will include detailed geological mapping, geochemical sampling and magnetometer geophysical surveys in 2010.
Andris A. Kikauka, P. Geo. is a Qualified Person under NI 43-101 and has reviewed and approved the technical data in this press release.
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 Omineca 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
www.torchriver.ca
Local Vancouver: (604) 541-1995
ProActive Communications Co.
Toll Free: (800) 540-1995
Torch River Resources Ltd.: Mount Copeland Rare Earth Element (REE) Targets Identified: Glacier, East and West Basin Zones
Tue Mar 9, 8:30 AM
http://ca.news.finance.yahoo.com/s/09032010/28/link-f-ccnmatthews-torch-river-resources-ltd-mount-copeland-rare-earth.html
CALGARY, ALBERTA--(Marketwire - March 9, 2010) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE: TCR.V) (FRANKFURT: WNF.F) (PINK SHEETS: TORVF.PK) is pleased to announce geochemical and geophysical data compilation has identified REE targets on its 100% owned Mount Copeland mineral tenures. From the 2008 drill core samples (West Glacier Zone), a total of 31 select core sample (0.5-2.0 m length range) pulps were analyzed by lithium borate fusion with ICP-MS finish (Pioneer Labs, Richmond, BC report number 2092505). Elevated values of niobium, neodymium, yttrium, cerium, lanthanum, and rubidium, with zirconium, titanium and strontium listed as follows:
Mean average values for elements listed, from 31 core samples geochemically analyzed:
----------------------------------------------------------------------------
Nb Rb Nd Y Zr Sr Ce La Ti
----------------------------------------------------------------------------
187.9 ppm 170.3 97.1 ppm 57.8 ppm 1,487.3 1,884.9 349.9 198.2 0.441%
ppm ppm ppm ppm ppm
----------------------------------------------------------------------------
A total of 53 soil samples (from 2008 soil sampling program on the Glacier, E and W Basin Zones) were analyzed for some REE's by ICP-MS, (method code ME-MS61, ALS Chemex, N Vancouver, BC certificate number VA8127982). Elevated values of niobium, phosphorus, yttrium, cerium, lanthanum, and rubidium, with molybdenum, titanium and strontium listed as follows:
Mean average values for elements listed, from 53 soil samples geochemically analyzed:
----------------------------------------------------------------------------
Nb Rb P Y Mo Sr Ce La Ti
----------------------------------------------------------------------------
256.0 ppm 172.2 2,380.0 102.8 ppm 142.1 ppm 805.7 466.3 299.1 1.114%
ppm ppm ppm ppm ppm
----------------------------------------------------------------------------
In addition to anomalous REE geochemical targets, there are 6 targets identified by a magnetometer survey carried out in 2008. These positive total field magnetic anomalies (moderate strength 200-500 nT increase, strong greater than500 nT increase) are listed as follows:
----------------------------------------------------------------------------
Easting Northing Elevation Relative Zone Name
strength
----------------------------------------------------------------------------
397350 5665500 2320 m Moderate West Basin
----------------------------------------------------------------------------
397500 5665350 2340 m Strong Marble Ridge
----------------------------------------------------------------------------
397550 5665350 2335 m Moderate Marble Ridge
----------------------------------------------------------------------------
397650 5665300 2340 m Strong Marble Ridge
----------------------------------------------------------------------------
397600 5665250 2410 m Moderate Marble Ridge
----------------------------------------------------------------------------
397690 5665250 2395 m Moderate W Glacier
----------------------------------------------------------------------------
The magnetometer survey strong anomalies are located in an area of marble with extensive zones of pyrrhotite and/or magnetite/ilmenite replacement mineralization which may account for the increase in total field magnetics.
The geological setting for the Copeland molybdenite occurrence is within concordant bodies of nepheline syenite gneiss that occur adjacent to the calc-silicate gneiss and marble unit. The syenite have locally developed an augen texture with large porphyryblasts of K-feldspar in a fine-grained groundmass. Calc-silicate assemblages contain diopside, garnet and actinolite. Carbonates and carbonatites are re-crystallized to medium and locally coarse-grained granoblastic marbles. Lithologies present are summarized as follows:
PROTEROZOIC (PRE-CAMBRIAN)
8- Syenite Aplite/Syenite Pegmatite: K-feldpsar, kaolinite, sericite, calcite, biotite, fluorite, garnet, sphene, specularite, pyrrhotite, pyrite, molybdenite, ilmenite, chalcopyrite, scheelite, tourmaline, apatite, riebeckite, poikilitic aegirine, zircon, zeolite, cancrinite, and analcite
7- Hangingwall Syenite Gneiss, Nepheline Syenite: K-feldspar, green/brown phlogopite, calcite, chlorite, accessory apatite, zircon, sphene, tourmaline, sphene, apatite, riebeckite, poikilitic aegirine, zircon, fluorite, zeolite, cancrinite and analcite
6- Biotite-Amphibole Marble: weathered and deeply pitted appearance, biotite, hornblende, chlorite, marble (granoblastic), actinolite, diopside
5- Black Biotite Amphibole Gneiss: biotite, hornblende, chlorite, oligoclase, magnetite
4- Quartzite Gneiss:feldspar, granular, interbedded marble bands, actinolite & diopside
3- Footwall Schist: massive biotite, minor feldspar, chlorite
2- Footwall Syenite Gneiss: microcline/oligoclase, green/brown mica, chlorite
1- Green Diopside Gneiss: 50% feldspar, 10-35% biotite, 2-10% green diopside,
Mount Copeland Glacier Zone features underground production (1970-73) that extracted 169,729 tonnes and recovered 2,625,046 pounds (1,190,713 kilograms) of molybdenum. When the Mount Copeland Glacier Zone molybdenum mine went into production in 1970, development work (diamond drilling, mapping, sampling) indicated there was 163,340 tonnes @ 1.1% Mo (Fyles, 1973). Mount Copeland nepheline syenite complex geologically correlates with the west flank of the Frenchman's Cap gneiss dome, which includes REE enriched deposits located along the Perry River/Ratchford Creek and Mount Grace areas. The Glacier Zone soil sample survey indicates there is anomalous Nb and Ce near the adit and may be related to granitic intrusions that are associated with molybdenite-pyrite-ilmenite-magnetite-chalcopyrite mineralization The East Basin soil sample survey also has anomalous Nb and Ce values. Mount Copeland nepheline syenite has high background values of rare earth elements such as Nb, Rb, Nd, Ce, La, and Y (with significant values of Zr, Sr, and Ti). The fieldwork carried out in 2008 and 2009 on Mount Copeland was conducted and supervised by Andris Kikauka, P.Geo., a Qualified Person pursuant to National Instrument 43-101. Mr. Kikauka has reviewed the contents of this news release. Torch River Resources will be following up potential REE targets on its 100% owned Mount Copeland mineral property. Management will be conducting REE exploration in the area of the molybdenite occurrences and exploring large bodies of granoblastic marble to test for REE mineral potential.
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
www.torchriver.ca
Local Vancouver: (604) 541-1995
ProActive Communications Co.
Or toll free (800) 540-1995
Torch River Resource (TSX:TCR)
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Torch River Resources Ltd.: Mount Copeland Rare Earth Bearing Mineralization
Wed Nov 11, 8:30 AM
http://ca.news.finance.yahoo.com/s/11112009/28/link-f-ccnmatthews-torch-river-resources-ltd-mount-copeland-rare-earth.html
Torch River Resource (TSX:TCR)
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Torch River Resource (TSX:TCR)
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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
Torch River Resources Ltd. (Tier2) (TSX:TCR)
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Torch River Resources Ltd.: Nahmint Returns 0.3 Meter Chip Sample of 10.48% Copper
Mon Apr 6, 9:00 AM
http://ca.news.finance.yahoo.com/s/06042009/28/link-f-ccnmatthews-torch-river-resources-ltd-nahmint-returns-0-3.html
CALGARY, ALBERTA--(Marketwire - April 6, 2009) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE: TCR.V) (PINK SHEETS: TORVF.PK) (FRANKFURT: WNF.F) is pleased to announce results of rock chip sampling within the Nahmint Property, located 25 kilometers southwest of Port Alberni, BC. Fieldwork carried out by Torch River Resources in 2009 has focused on the Three Jays and Monitor Cu-Ag-Au bearing mineral occurrences.
Three Jays mine had 3 levels and 1.1 kilometers of underground workings which were excavated in 1898-1902. The mine produced 1,981 tonnes direct shipping ore that averaged 7.5% Cu, 38 g/t Ag, and 0.97 g/t Au (source: Minister of Mines Annual Reports). The Monitor mine (1898-1901, and 1916-1918) produced 1,288 tonnes which contained an average of 9.1% Cu, 28.8 g/t Ag, and 0.05 g/t Au (source: Minister of Mines Annual Reports). These mineral occurrences are classified as skarn (intrusion related sulphide replacement zones in carbonate or volcanic host rocks). Three Jays and Monitor mineral occurrences are hosted in Upper Triassic Quatsino limestone and Karmutsen Fm andesite/basalt tuffs/flows. Skarn mineralization occurs as a result of emplacement of Mid-Jurassic Island Plutonic Suite (diorite to quartz-feldspar porphyry) which have generated hydrothermal fluids emanating from end phases of large-scale intrusive activity. The hydrothermal fluids replace limestone and volcanic rock with garnet, actinolite, epidote, calcite, quartz, chlorite, hematite alteration and lenses of massive chalcopyrite, magnetite, pyrite, and rare bornite. Massive mineralization occurs as ore shoots and individual shoots can be 2-8.5 m in width and 20-45 m length. All of the mineralization is closely related to fault/shear structures along or adjacent to (within 200 meters of) intrusive contacts.
THREE JAYS:
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 mineralization.
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Sample
no Width % Cu g/t Ag g/t Au Alteration Minerals
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PAC09AR1 0.2 m 2.41 11.2 0.450 skarn, epidote, cpy.,py.,magnetite
chlorite, actinolite
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PAC09AR2 float 1.02 0.8 0.049 skarn, epidote, cpy.,py.,magnetite
chlorite, actinolite
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PAC09AR3 0.2 m 2.39 2.5 0.063 skarn, epidote, cpy.,py.,magnetite
chlorite, actinolite
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PAC09AR4 0.3 m 0.64 0.5 0.007 skarn, epidote, azurite,
chlorite, actinolite cpy.,py.,magnetite
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PAC09AR5 float 21.02 61.8 0.475 skarn, epidote, bornite,
chlorite, actinolite cpy.,py.,magnetite
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VIK09AR1 0.3 m 10.48 46.5 0.280 skarn, epidote, cpy.,py.,magnetite
chlorite, actinolite
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VIK09AR2 float 15.01 58.9 0.070 skarn, epidote, cpy.,py.,magnetite
chlorite, actinolite
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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 above sea level. 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). Magnetometer readings taken at 12.5 meter spacing were obtained along N-S oriented grid lines resulting in a 250-350 nT negative anomaly over the south portion of the Pacific Crown Grant old workings (grid L 363400 E, stn 5413087.5 N to 5413100 N). There are two 600-900 nT positive anomalies located 25 and 62.5 meters to the south of the old workings. There are also two 600-1200 nT positive anomalies located 25-75 meters north of Three Jays Creek on (NAD 83 UTM) easting L 363500 E and L 363600 E, at 65 and 25 meters elevation above sea level. In October 2008, magnetometer surveys were carried out on Three Jays where a total field magnetic low coincided with the old workings and 50-200 meters NE and NW of the main mineral zone a broad 500-1500 nT positive mag anomaly occurs. Further work is planned to extend the Three Jays grid W, N, and E to investigate this moderate strength total field magnetic high.
MONITOR:
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.
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sample g/t
no width elev (m) Lithology minerals % Cu g/t Ag % Zn Au
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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 0.22
limestone magnetite, than 1
sphal.
----------------------------------------------------------------------------
MON09AR3 0.3 m 104 basalt, cpy.,py., 0.03 0.5 0.09 0.01
limestone magnetite
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MON09AR4 0.2 m 188 basalt, cpy.,py. 1.02 45.6 greater 0.05
andesite hematite, than 1
sphal.
----------------------------------------------------------------------------
Geochemical anomalies in soil samples on the Monitor are summarized in table
below:
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Easting Northing Elevation m. ppm Cu ppm Ag ppm Zn
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357800 5427900 115 778 0.9 217
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357800 5427950 129 436 0.4 77
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357900 5427700 55 362 0.5 968
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357900 5427750 66 1,558 1.5 1,301
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357900 5427800 81 332 1.3 1,350
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A magnetometer survey of the Monitor mineral zones shows a 300-500 nT positive anomaly on (NAD 83 UTM) L 357800 E, station 5427850-5427900 N, located 50 meters north of the Cu, Zn, Ag in soil anomaly on L 357800 E stn 542700 N to 542800 N. The Cu, Zn, Ag soil anomaly on L 357900 E (stn 5427700 N to 5427800 N) has a coincident 350-450 nT negative anomaly. Preliminary interpretation of magnetometer and soil geochemical data suggests that Cu, Ag, Au soil anomalies correlate with total field magnetic lows due to alteration and absence of magnetic minerals (e.g. magnetite) despite most of the rock chip samples containing 1-20% magnetite. There is also a pattern of total field magnetic highs and increased amount of magnetite present in bedrock adjacent to Cu, Ag, Au bearing mineral occurrences and/or soil anomalies.
Further evaluation of mineral zones on the Nahmint Property will be directed at Cu-Ag-Au mineral zones with economic potential. 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 or Toll Free 1-800-540-1995
ProActive Communications Co.
Torch River Resources Ltd. (Tier2) (TSX:TCR)
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Torch Signs LOI to Option 75% of Crown Grants & Nahmint Property
Mon Jan 19, 9:00 AM
http://ca.news.finance.yahoo.com/s/19012009/28/link-f-ccnmatthews-torch-signs-loi-option-75-crown-grants-amp.html
CALGARY, ALBERTA--(Marketwire - Jan. 19, 2009) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE: TCR.V) (FRANKFURT: WNF.F) (PINK SHEETS: TORVF.PK) is pleased to announce that it has signed a letter of intent (the "Letter of Intent") under which Torch may earn a 75% interest in the 14 Crown grants and 18 cell mineral claims known as the Nahmint property (the "Nahmint Property"), located in the Alberni Mining District on Vancouver Island, B.C. Torch intends to enter into a definitive agreement for the Nahmint Property (the "Nahmint Option Agreement"), subject to obtaining the approval of the TSX Venture Exchange.
Terms of the Letter of Intent
Under the terms of the Letter of Intent, Torch shall earn a 75% interest in the Nahmint Property by paying the vendors $351,000 over 5 years, spending $1,350,000 on work programs on the Nahmint Property over 5 years and issuing 10 million shares to the vendors over 5 years. Under the terms of the Letter of Intent, the Nahmint Property is subject to a 2% NSR of which 1% can be purchased by Torch for $1,000,000. Torch shall be the operator for the projects conducted on the Nahmint Property.
The Nahmint Property
The two groups of: (i) 14 Crown granted mineral claims comprised of the Three Jays group of eight crown grants and the Monitor group of six crown grants; and (ii) the surrounding 18 cell staked claims are collectively known as the Nahmint Property. The Nahmint Property is at tidewater on the Alberni Canal approximately 25 km. south-south-west of Port Alberni on Vancouver Island British Columbia.
The Nahmint Property geology consists of a flat-lying sequence of layered rocks of Triassic to Jurassic age, including Karmutsen volcanics, Quatsino limestone, Parsons Bay formation and Lemare Lake volcanics. These layered rocks have been intruded from the southeast by a large batholith of the island intrusive suite of granodiroite. Steeply dipping, northwest-trending faults have deformed and offset the layered and intrusive rocks both vertically and horizontally. This represents an ideal setting on Vancouver Island for porphyry copper-gold-molybdenum and related copper, iron and gold skarn deposits.
The property hosted three past producers. The Monitor Mine operated from 1900 - 1902 and from 1916 - 1918 and produced 1,288 tons averaging 9.09% copper, .05 g/t gold and 28.8 g/t silver. The Sunshine Mine shipped 5 tonnes in 1916 averaging 17.4% copper and 43.6 g/t silver. The Three Jays Mine operated from 1898 -1902 and produced 1,981 tonnes of direct shipping ore averaging 7.5% copper, .97 g/t gold and 38 g/t silver with several stockpiles of mineralized material remaining on surface. The Three Jays Mine was developed over a vertical distance of 750 feet and a horizontal distance of 1500 feet on three separate levels.
Past production was undertaken when sophisticated exploration tools were not available. The Nahmint Property has not been drill tested.
Geological Evaluation
Prior to entering into the Letter of Intent, Torch completed its geological evaluation of Three Jays (BC Minfile 092F 140) copper-silver-gold bearing mineralization. The following assay (for Cu) and geochemical analysis (for Ag and Au) results are listed in the following table:
----------------------------------------------------------------------------
Sample # alteration minerals comments width
(m)
----------------------------------------------------------------------------
TJ08AR2 skarn, cpy.,py sub-crop near 0.15
epidote, bornite shaft
garnet,
actinolite
----------------------------------------------------------------------------
TJ08AR3 skarn, cpy.,py shaft dump float
epidote, bornite grab
garnet,
actinolite
----------------------------------------------------------------------------
TJ08AR4 skarn, cpy.,py 345 degree 1.0
epidote, magnetite adit
garnet, (hangingwall)
actinolite
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Sample # elevation lithology % g/t g/t
(m) Cu(2) Ag(1) Au(1)
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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
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(2) Assay
(1) Geochemical Analysis by Pioneer Labs, Richmond, BC (lab report 2082062)
The mineralization consists of chalcopyrite, magnetite, bornite, and pyrite in a gangue of epidote, garnet and actinolite. 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 (see attached map). 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). Skarn type 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. Investigation of additional skarn and possible porphyry type Cu-Ag-Au bearing mineralization is planned for future appraisal of the Three Jays mining property.
Andris Kikauka, P.Geo for the purposes of NI 43-101, fulfills the requirements of "qualified person".
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.
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
(403) 444-6888
Website:
http://www.torchriver.ca
Local Vancouver: (604) 541-1995 or Toll Free: 1-800-540-1995
ProActive Communications Co.
http://investorshub.advfn.com/boards/board.aspx?board_id=14873
http://investorshub.advfn.com/boards/board.aspx?board_id=2205
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