Torch River Resources Ltd.
TSX VENTURE : TCR
FRANKFURT : WNF
PINK SHEETS : TORVF

Torch River Resources Ltd.

November 23, 2010 07:30 ET

Torch Receives Re-Assays of Rare Earths; Total (REEs) Registering Above 26% at Mt. Copeland

CALGARY, ALBERTA--(Marketwire - Nov. 23, 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 Rare Earth Elements (REE) (La, Ce, Pr), which were previously above measurement limits on its 100% owned Mount Copeland mineral tenures comprising 1,318 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; however, they are 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 assays and re-assays are as follows:

rock no   % Mo      %      Ce     %   La   ppm Nd      % Pr   ppm Sm   ppm Y   ppm Dy   ppm Nb   %
 Ti
  Ppm Zr
10AR-20   0.01     13.1     10.2    17650   0.77    1200   599   185   3140   2.928   6190
10AR-22   0.01       1.845       1.82   2540    0.118     196   386   80.1   67.6   0.277   136

Note- samples (AR- 20, & 22) had above detection limit analysis on some elements and were re-analyzed (using higher standards) at ALS Chemex Labs and SGS Canada Inc.

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 rock chip sample for AR22 was taken over an interval of 70 cm in length. 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 which trends under the glacier. A power point presentation can be found at www.torchriver.ca

AR20 contains over 13% Cerium (Ce) and the rock chip sample was taken over a length of 18 cm. Cerium is used in pigments, catalytic converters and in the polishing of optical components amongst other varied uses. 

AR20 also contains over 10% Lanthanum (La) which is used as a catalyst for cracking oil and also in batteries where, for example, each Toyota Prius contains 20 to 40 pounds of Lanthanum.

Management is very encouraged by results of rock and soil samples containing elevated REE's on Mt Copeland where total REEs on AR20 were 26.13% and AR22 were 4.13% (the approximate oxide percentages would be 30.5% and 4.8% respectively). The company is planning a drilling and trenching program which will 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., a Qualified Person with respect to National Instrument 43-101 and who has also reviewed this 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.

Contact Information

  • Torch River Resources Ltd.
    William E. Pfaffenberger
    President and Chief Executive Officer
    (403) 444-6888
    www.torchriver.ca
    or
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995
    Toll Free (800) 540-1995