Torch River Resources Ltd.

Torch River Resources Ltd.

October 05, 2011 08:30 ET

Torch River Resources Ltd.: Mount Copeland Molybdenite (& REE) Project, Revelstoke Mining Division, BC

Rare Earth Elements identified on Marble Breccia Zone

CALGARY, ALBERTA--(Marketwire - Oct. 5, 2011) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce geochemical analysis of rock chip samples taken from a 15 m long outcrop has identified REE targets on its 100% owned Mount Copeland mineral tenures. A total of 10 rock chip samples were analyzed for some REE's by ICP-MS carried out at Pioneer Labs Inc, Richmond, BC certificate number 2111123). Elevated values of cerium, lanthanum, praseodymium, dysprosium, gadolinium, samarium, europium, thorium, zirconium, strontium occur in 5 of the 10 rock chip samples taken which are listed in the following table:

sample no ppm Ce ppm La ppm Nd ppm Pr ppm Sm ppm Dy ppm Gd ppm Eu ppm Th ppm Zr ppm Sr
804 2220 1650 432 155 59.3 42.8 48.1 16.3 407 291 476
805 2120 1740 339 133 40.9 34.1 33.7 11 405 113 629
808 3440 2790 552 218 65.6 64.2 57.2 18.3 575 164 290
809 1820 1540 277 112 31.5 25.6 25.1 7.84 527 149 1449
810 2920 2690 389 168 41.6 33.9 33.8 10.5 351 81 1028

NOTE- all rock chip samples represent a true width of 0.5 m.

The average of these five samples is .67% REE's (without Nb). As reported on January 4, 2011, sample AR22 taken from this same rock unit averaged 4.13% REE's.

These results from rock sampling in August, 2011 prompted follow up rock chip sampling in late September of this outcrop and related mineralization encountered along strike. The samples have been submitted for geochemical analysis and results are pending. In addition, Nb analysis has been requested for sample numbers 804-810. Previous sampling in 2010 revealed values exceeding 0.1% Nb from geochemical analysis of rock chip samples.

In addition to rock chip samples, a detailed magnetometer survey was carried out over a 350 X 200 m area to locate zones of pyrrhotite and/or magnetite/ilmenite (which are magnetic and paramagnetic minerals). The magnetometer survey revealed numerous 1000-3,000 NT anomalies located on and adjacent to the marble breccia ridge crest. The magnetometer anomalies represent future drill targets because pyrrhotite, magnetite and ilmenite are closely associated with elevated rare earth elements.

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. 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.

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 2011 on Mount Copeland was conducted and supervised by Andris Kikauka, P.Geo., and 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. Torch will be conducting REE exploration and diamond drilling in the area of the molybdenite occurrences and exploring granoblastic marble to test for REE mineral potential.

As reference, the current price for Lanthanum (La) and Cerium (Ce) metal are each approximately $55 U.S. per lb.

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 Mount Copeland 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

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