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

Torch River Resources Ltd.

September 28, 2010 08:30 ET

Torch River Resources Ltd.: Mount Copeland Mo Occurrence Returns Significant Rare Earth Elements, Yttrium, Niobium, Titanium, Molybdenum & Copper Values from Rock Chip & Soil Samples

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2010) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce highlights of 34 rock chip and 72 soil samples taken from a 1.3 X 0.6 km area centered on Torch River Resources Copeland Property, located 25 km northwest of Revelstoke, BC. Of the 34 total rock chip samples, 23 were taken as chip composites across widths ranging from 0.18-2.8 meters (taken at right angles to apparent strike of mineral zone to represent true width), and 11 were sub-crop, not outcrop samples (i.e. not in-situ). Rock and soil samples were shipped to Pioneer Labs for lithium borate fusion, acid dissolution and ICPMS analysis for rare earth elements (14 of 15 analyzed, Promethium, Pm not analyzed), trace elements, and assays for Mo and Cu for select elevated rock chip samples (geochemical analysis certificate numbers 2102718, 2102718A, & 2102718B). A total of 8 rock chip samples (COPE10AR-3, 12, 19, 20, 22, 23, 25 & 26) contain elevated rare earth elements above the high end of the detection limit, and these samples have been forwarded to ALS Chemex, N Vancouver BC, for lithium borate fusion, acid dissolution and ICPMS analysis.

Copeland Mo 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 @ 1.096% Mo (historic resource estimate used by King Resources for 1970-73 mine development and underground workings). Lenses of syenite pegmatite or syenite aplite are concentrated along the north border of an extensive nepheline syenite body that occurs along the ridge crest in contact with calc-silcate metamorphic rocks located west of Mount Copeland. Lenses of syenite pegmatite or syenite aplite are common along the northern border of the nepheline syenite unit, and are the focus of economic interest because of their elevated concentrations of molybdenum, copper, rare earth elements, yttrium, niobium and titanium. Characteristically, the syenite aplites/pegmatites are parallel with foliation, but locally they cross it. Massive and disseminated sulphide and oxide mineralization occurs in the aplite and pegmatite lenses, and in marble-breccia, calc-silcate gneisses adjacent to the syenite-gneiss contact. Observations demonstrate that the syenite pegmatite and aplite host disseminated and fracture filling molybdenite with minor magnetite, ilmenite, pyrite, pyrrhotite, scheelite, and chalcopyrite. Molybdenite bearing zones are associated with secondary K-spar, calcite, biotite, chlorite and rare quartz.

Significant molybdenum, copper, rare earth (cerium, lanthanum, neodymium 3 of 15 rare earth elements), thorium, yttrium, niobium and titanium values from Aug, 2010 rock chip samples are summarized in the following table:

Sample number   Width (m)   Zone Name   Mo %   Cu %   Ce ppm   La ppm   Nd ppm   Th ppm   Y ppm   Nb ppm   Ti %
COPE10 AR-01   1.00   Glacier Mine   0.63   0.01   165.2   94.8   49.0   6.2   31.3   94.9   0.058
COPE10 AR-02   1.20   Glacier Mine   0.49   0.01   132.1   78.4   36.2   9.3   8.2   74.2   0.094
COPE10 AR-03   0.60   Glacier Mine   0.95   0.02   >1,000   >1,000   531.2   68.5   113.0   >1,000   0.966
COPE10 AR-04   1.00   Glacier Mine   1.33   0.01   297.8   187.3   80.3   43.9   39.1   >1,000   2.587
COPE10 AR-05   1.00   Glacier E Ext   0.56   0.01   142.5   79.7   45.1   57.6   18.6   >1,000   1.396
COPE10 AR-09   2.00   Glacier E Ext   0.77   0.01   103.3   51.8   36.2   3.5   32.3   641.9   0.771
COPE10 AR-10   1.00   Glacier E Ext   1.20   0.01   116.3   66.0   33.5   10.3   11.7   43.9   0.037
COPE10 AR-11   0.52   Glacier E Ext   0.10   0.01   396.1   170.1   128.8   1.9   101.1   84.2   0.287
COPE10 AR-12   Sub-crop   6420' Peg   0.01   0.01   >1,000   729.7   190.4   47.7   66.1   250.7   0.287
COPE10 AR-14   2.00   J-5 6,300'   0.19   0.01   35.5   20.1   11.3   8.8   4.1   18.2   0.055
COPE10 AR-15   0.20   6420' Peg   0.34   0.01   96.3   47.4   39.4   2.6   19.5   23.8   0.117
COPE10 AR-19   0.45   East Glacier   0.01   0.27   >1,000   742.5   183.1   81.8   78.7   259.4   1.466
COPE10 AR-20   0.18   East Glacier   0.01   0.01   >1,000   >1,000   >1,000   >1,000   623.8   527.4   2.928
COPE10 AR-22   0.70   Marble Bx R   0.01   0.01   >1,000   >1,000   >1,000   >1,000   414.8   31.4   0.277
COPE10 AR-23   1.80   Marble Bx R   0.01   0.01   >1,000   >1,000   176.3   211.4   103.8   73.5   0.361
COPE10 AR-24   2.80   Marble Bx R   0.21   0.01   183.0   164.1   37.4   28.7   23.2   22.1   0.171
COPE10 AR-25   0.25   Marble Bx R   0.01   0.01   666.9   722.3   99.9   43.9   106.9   147.1   0.566
COPE10 AR-26   0.30   Marble Bx R   0.22   0.01   >1,000   >1,000   166.8   259.0   152.4   35.3   0.254
COPE10 AR-27   0.25   Marble Bx R   0.92   0.01   23.5   15.0   7.5   3.0   3.4   32.1   0.227
COPE10 AR-28   0.22   Marble Bx R   0.43   0.01   191.4   129.7   15.8   28.4   25.3   89.6   0.486
COPE10 AR-29   0.35   Marble Bx R   0.18   0.01   261.6   170.1   78.4   14.8   55.6   38.7   0.043
COPE10 AR-30   Sub-crop   Marble Bx R   3.40   0.01   175.1   99.4   70.0   251.4   38.5   126.8   0.060
COPE10 AR-33   Sub-crop   West Basin   0.01   1.32   306.1   169.9   100.1   15.2   96.0   138.5   0.377

Note- Uranium values range from 0.7-73.9 ppm, and average <20 ppm

A new zone of rare earth, yttrium, niobium and titanium has been outlined from August, 2010 rock chip and soil sampling. Elevated rare earth values occur notably on Marble Breccia Ridge, a distinct 5-50 m wide band of marble (breccia texture near contacts), and gossan (rusty coloured iron oxides) caused by pyrite-pyrrhotite. Marble Breccia Ridge contains zones of disseminated magnetite resulting in a strong (>2,000 nT), positive total field magnetometer survey anomaly zone. Geochemical analysis (certificate number 2102718A), of rare earth elements indicates Marble Breccia Ridge (rock chip samples COPE10AR-22-30) contains significant rare earths, yttrium, niobium and titanium. This newly discovered mineral zone appears to continue east-southeast under the glacier and the East Glacier Zone (rock chip samples COPE10AR-19 & 20 located 400 m ESE of Marble Breccia Ridge), is an area that also contains significant rare earths, yttrium, niobium, titanium and copper.Significant rare earth (cerium, lanthanum, neodymium 3 of 15 rare earth elements), thorium, yttrium, niobium and titanium values (certificate number 2102718A), from Aug, 2010 soil samples are summarized in the following table:

Northing   Easting   Zone Name   Ce ppm   La ppm   Nd ppm   Th ppm   Y ppm   Nb ppm   Ti %
5665500   397000   Marble Bx R   >1,000   756.1   264.1   87.0   126.1   460.3   0.509
5665500   397025   Marble Bx R   785.1   442.2   220.9   43.2   140.9   523.7   0.611
5665500   397975   J-5 6,300'   802.6   475.4   190.1   86.8   115.0   530.2   0.918
5665500   397275   Marble Bx R   644.9   409.3   183.3   58.2   139.1   242.0   1.051
5665550   397300   Marble Bx R   661.3   430.5   173.0   88.3   120.7   288.4   1.057
5665550   397125   Marble Bx R   636.3   346.9   164.8   57.9   95.4   595.9   1.055
5665550   397250   Marble Bx R   733.8   463.5   195.1   114.9   127.9   338.1   1.922
5665550   397275   Marble Bx R   881.5   441.2   213.8   71.0   161.5   232.1   1.559
5665550   397925   J-5 6,300'   535.3   256.7   146.4   48.5   95.1   297.5   1.003
5665550   397975   J-5 6,300'   652.7   385.9   149.3   68.8   88.8   468.1   1.041
5665050   398100   East Glacier   >1,000   643.2   237.8   102.9   143.2   454.7   2.101
5665100   398100   East Glacier   >1,000   813.7   241.9   113.7   139.9   558.1   1.674
5665300   397650   Marble Bx R   624.6   335.2   210.2   53.7   88.4   146.7   1.868
5665300   397675   Marble Bx R   806.4   522.8   160.6   104.5   88.8   554.5   0.570
5665400   397650   Marble Bx R   784.8   553.8   153.3   115.2   100.9   277.8   0.454
5665400   397675   Marble Bx R   >1,000   747.0   225.8   184.6   143.6   292.1   1.333
5665400   397725   Glacier E Ext   589.2   372.5   153.8   82.0   86.7   234.5   1.126
5665400   397750   Glacier E Ext   756.7   421.4   231.1   71.2   158.0   245.2   1.884
5665400   397775   Glacier E Ext   786.2   436.8   240.8   93.1   151.8   199.1   2.433
5665400   397775   Glacier E Ext   >1,000   658.9   275.4   88.3   173.6   561.4   1.033
5665450   397800   Glacier E Ext   646.0   399.5   183.6   67.1   115.3   235.4   1.479
5665450   397875   Glacier E Ext   764.1   445.5   191.3   97.7   131.3   465.3   0.917
5665450   397900   Glacier E Ext   994.0   535.9   228.2   74.1   152.0   610.5   1.017
5665000   398050   East Glacier   >1,000   776.5   258.2   187.6   156.0   438.0   1.446
5665000   398075   East Glacier   >1,000   875.8   229.8   189.0   148.5   432.8   0.986
5665000   398100   East Glacier   >1,000   841.0   263.3   129.4   146.2   469.3   0.977
5665000   398125   East Glacier   >1,000   >1,000   476.2   163.8   193.4   435.2   1.023
5665000   398150   East Glacier   >1,000   723.3   303.4   96.9   181.4   254.6   3.082

Note- Uranium values range from 7.9-67.3 ppm, and average <25 ppm

The East Glacier and Marble Breccia Ridge zones do not have Mo & Cu values associated with REE minerals, but the Glacier East Extension and J-5 6,300' zones that are elevated in Mo & Cu values are spatially related to above average REE, yttrium, niobium & titanium geochemical analysis values.

Management is focusing on future exploration of rare earth elements, yttrium, niobium and titanium on Mt Copeland mineral tenures, and will be reporting further analysis of the samples which are presently above measurable limits as they are released from ALS Chemex Labs. Additional follow-up work planned will include detailed geological mapping, geochemical sampling, magnetometer geophysical surveys, and core drilling. Fieldwork and data compilation on the Mt Copeland mineral tenures was carried out by Andris Kikauka, P.Geo., a Qualified Person for the purposes of NI 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
    www.torchriver.ca
    or
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995
    Or toll free (800) 540-1995