Torch River Resources Ltd.

Torch River Resources Ltd.

November 04, 2010 07:30 ET

Torch Receives Re-Assays of Some Rare Earths (REEs) Registering Above 5% at Mt. Copeland

CALGARY, ALBERTA--(Marketwire - Nov. 4, 2010) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce re-assayed geochemical analysis results identifying REE (La, Ce, Pr, Nd, Pm, Sm), which were previously above measurement limits on its 100% owned Mount Copeland mineral tenures comprising 1318 hectares and located 25 km northwest of Revelstoke, BC. The Mt. Copeland property history includes underground excavation (1970-73) that produced 169,729 tonnes and recovered 2,625,046 pounds (1,190,713 kilograms) of molybdenum (Mo). When the Copeland Mine went into production in 1970, development work, diamond drilling, mapping, & sampling indicated there were 163,340 tonnes @ 1.09% Mo.

REE's are presently in short supply, and their values are high and increasing. Their uses are varied but essential in manufacturing activities such as: electronics, batteries, high tech uses, strong magnets, TV screens and microwave transmission. 

Fieldwork was previously detailed in Torch River's press release of November 2, 2010.

Recently received re-assays are as follows:

rock no   % Mo   ppm Ce   ppm La   ppm Nd   ppm Pr   ppm Sm   ppm Y   ppm Dy   ppm Nb   % Ti   Ppm Zr
10AR-20   0.01   >50000   >50000    17650   >5000    1200   599   185   3140   2.928   6190
10AR-22   0.01     18450    18200   2540    1185     196   386   80.1   67.6   0.277   136

Note- samples (AR- 20, & 22) have above detection limit analysis and are currently being re-analyzed (using higher standards) at Pioneer Labs and ALS Chemex Labs.

These samples are from two areas of REE bearing mineralization occurring in the East Glacier Zone (e.g. rock chip sample COPE10AR-20) and the Marble Breccia Ridge Zone (e.g. rock chip sample COPE10AR-22). The East Glacier and Marble Breccia Ridge Zones are about 600 meters apart, but they occur on the same stratigraphic horizon and may be part of an extensive REE bearing mineral zone that trends under the glacier. 

Management is very encouraged by results of rock and soil samples containing elevated REE's on Mt Copeland and has sent for re-assay those samples over 5% (50,000 ppm). The company will continue to focus on exploration and development targeting REE's, Nb, Y, Zr, Ti, and Mo bearing mineral zones. Soil/rock chip sampling and interpretation of data for Torch River Resources was carried out under the supervision of Andris Kikauka, P. Geo., and a Qualified Person with respect to National Instrument 43-101.

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.

Contact Information

  • Torch River Resources Ltd.
    William E. Pfaffenberger
    President and Chief Executive Officer
    (403) 444-6888
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995
    Or toll free: (800) 540-1995