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

Torch River Resources Ltd.

September 07, 2011 08:30 ET

Torch Reports on Fort-Elden and Mt. Copeland Properties

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2011) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce results from core drilling of 6 diamond drill holes on their 100% owned 1,836 hectare Fort-Elden property, located 100 km west of Fort St James, BC. The property features copper-silver-molybdenum-zinc-gold bearing sulphide minerals which include chalcopyrite, pyrrhotite, pyrite, molybdenite, sphalerite, 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. The Elden Breccia features abundant secondary K-spar alteration, secondary green biotite, and hydrothermal silica.

A total of 1,500 meters of drilling was completed in mid-August 2011 and 750 split core samples (2 m intervals) were taken from 6 drill holes (collared in a 400 X 150 m area) located at the north end of the Elden Breccia mineral zones. Split core samples were shipped to Pioneer Labs, Richmond, BC. Highlights from geochemical analysis are listed as follows (Pioneer Labs Inc., report 2111087, 2111099, & 2111104):

DDH From (m) To (m) Interval
(m)
% Cu % Mo % Zn Ag g/t ppm V ppm Cr
1 160 166 6 0.13 0.013 0.02 4.1 233 37
1 194 196 2 0.39 0.004 0.01 6.3 17 18
1 234 238 4 0.20 0.001 0.01 22.2 88 436
2 2 14 12 0.14 0.042 0.09 2.1 216 48
2 64 68 4 0.10 0.059 0.06 2.1 300 45
2 90 102 12 0.11 0.108 0.12 4.7 234 53
2 110 122 12 0.11 0.058 0.03 0.8 137 31
2 140 152 12 0.10 0.018 0.01 1.3 165 82
2 172 198 26 0.10 0.006 0.02 1.3 185 89
2 206 214 8 0.11 0.004 0.01 1.9 168 207
3 50 80 30 0.03 0.027 0.01 0.4 183 116
3 120 132 12 0.02 0.045 0.04 0.7 41 141
3 142 150 8 0.04 0.081 0.01 0.3 139 73
3 164 190 26 0.11 0.016 0.01 1.2 157 34
3 200 260 60 0.12 0.004 0.01 1.0 139 52
4 0.6 30 29.4 0.11 0.001 0.02 4.6 163 101
4 98 126 28 0.09 0.001 0.02 3.2 166 89
5 182 192 10 0.09 0.001 0.02 1.8 215 40
6 38 48 10 0.24 0.001 0.06 10.6 169 66
6 64 72 8 0.22 0.001 0.03 9.3 177 128
6 84 102 18 0.07 0.001 0.02 4.6 123 89

A total of 1,500 meters of drilling and 750 split core samples (2 m intervals) were taken from 6 drill holes (collared in a 400 X 150 m area) located at the north end of the Elden Breccia mineral zones. Split core samples were shipped to Pioneer Labs, Richmond, BC. Highlights from geochemical analysis are listed as follows There are some elevated chromium and vanadium values associated with hornblende gabbro host rock. DDH 4 intersected 2 m @ 0.38 g/t Au (at 114-116 m depth), and there were 4 other >0.1 g/t Au intersections in DDH 1,3,4 & 5, but generally the Au values >0.1 g/t Au Further diamond drilling is planned to evaluate the extent of porphyry style Cu-Mo-Ag bearing mineralization located on Fort-Elden breccia zone. Fieldwork and data compilation on the Fort-Elden Project was carried out by Andris Kikauka, P.Geo., and a Qualified Person for the purposes of NI 43-101.

Dr. Bill Pfaffenberger, President and CEO of Torch stated, "We are very pleased with these results at Fort-Elden. This program has demonstrated a very large mineralized porphyry system. All holes were mineralized almost throughout their entire length. We are involved in planning for further drilling on this massive target once we have received the complete report from our geologist. For a greenfield project, I think we are onto a great potential and have staked more ground in the area in anticipation of this."

In August, 2011, a total of 22 rock chip and 9 soil samples were taken at Torch R Resources 100% owned Mount Copeland property, featuring molybdenum (Mo), Rare Earth Elements (REE) (La, Ce, Pr, Nd, Pm, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu), yttrium (Y), zirconium (Zr), and niobium (Nb) bearing mineralization located 25 km northwest of Revelstoke, BC. Mount 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. When the Copeland Mine went into production in 1970, development work, diamond drilling, mapping, & sampling indicated there was 163,340 tonnes @ 1.09% Mo. Results from surface sampling in August, 2011 are currently being processed at Pioneer Labs, Richmond, BC. Previous results from surface sampling in 2010 from this area returned values of 30.5% TREO (total rare earth oxides) from an 18 cm interval rock chip sample at AR20.

Previous assays of REEs at Mt. Copeland were 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.

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 Fort Elden (Omineca) and Mount Copeland properties. 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

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