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

Torch River Resources Ltd.

March 16, 2009 09:00 ET

Torch River Resources Ltd.: Technical Report on the Mt Copeland Property

CALGARY, ALBERTA--(Marketwire - March 16, 2009) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (PINK SHEETS:TORVF) (FRANKFURT:WNF) is pleased to announce that a technical report titled "Mount Copeland Molybdenum Property Progress Report for 2008" dated December 1, 2008 (the "Progress Report"). The Progress Report has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Progress Report was prepared by Norman Tribe, P.Eng., independent "qualified person" as that term is defined in NI 43-101.

The Technical Report is available on Torch's website at www.torchriver.ca and SEDAR at www.sedar.com.

Mineral tenure 501827 (and adjacent tenure 546342), 'Mt. Copeland Mo Project', are located 23 km northwest of Revelstoke at the headwaters of Hiren Creek. Mt. Copeland Mo property history includes underground excavation (1970-73) that produced 171,052 tonnes of ore and recovered 2,625,046 pounds (1,193,222 kilograms) of molybdenum. When the Copeland Mine went into production in 1970, development work (diamond drilling, mapping, sampling) indicated there was 163,340 tonnes @ 1.08% Mo (source: MINFILE).

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. 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-feldspar, calcite, biotite, chlorite and minor quartz.

The 2008 exploration drilling focused on the East Basin (located 500-700 m east of the old workings) and the west extension of the Glacier Zone (located 100-200 m west of the old workings). Geochemical analysis of mineralized sections of split core from diamond drill holes COP08-8 & 9 located in the East Basin Zone returned the following values:



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DDH No. Zone Name FROM (m) TO (m) WIDTH (m) Sample ID No. % Mo
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COP08-8 East Basin 116.8 117.2 0.4 414 0.137
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COP08-8 East Basin 127.6 128 0.4 424 0.086
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COP08-8 East Basin 153.3 153.9 0.6 441 0.038
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COP08-8 East Basin 161.55 161.85 0.3 446 0.416
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COP08-9 East Basin 114.7 117 2.3 500, 501, 502 0.026
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COP08-9 East Basin 151.3 154 2.7 519, 520, 521 0.214
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COP08-9 East Basin 152.4 153.1 0.7 520 0.527
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Compilation of drill data from COP08-8 & 9 suggests there are 2 zones of Mo bearing mineralization. The upper Mo zone occurs at 2000 m elevation and the lower zone occurs about 30-40 m below. The Mo bearing zones are accompanied by wider zones of hydrothermal alteration (e.g. secondary K-feldspar, sericite, chlorite) suggesting there is potential for additional Mo bearing zones nearby. The East Basin drill core was subjected to shortwave UV lamping for scheelite (an ore of tungsten with chemical formula CaWO4) and several zones produced a bright sky-blue glow. These zones have been sampled and are awaiting tungsten assays.

In addition to diamond drilling, Torch River Resources carried out soil (talus fines) sampling and magnetometer surveys west and north of the Glacier Zone. Soil results identified a 200 X 100 m zone of anomalous Mo in soil near the Glacier Zone (old workings). Additional Mo in soil anomalous zones include the Sub-Portal (located 100 m NE of the portal) and the West Basin (located 500-600 m west of the portal). Magnetometer surveys indicate a 1000-2000 nT (high intensity) positive total field anomaly (about 300 m in length) is associated with the marble bands located in the Glacier West Zone. This positive magnetometer anomaly suggests the presence of massive magnetite (and/or pyrrhotite) and related skarn type mineralization. The geochemical and geophysical surveys carried out in 2008 have led to a number of new targets for future exploration on the Mount Copeland project.

This summary of technical data on Torch River Resources Mount Copeland Project was written by Andris A. Kikauka, P. Geo. who is a Qualified Person under NI 43-101 and has reviewed and approved the technical data in this press release and supervised the 2008 fieldwork at Mount Copeland.

Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

For all Torch River investor relations needs, investors are asked to visit the Torch River IR Hub at http://www.agoracom.com/IR/Torchriver where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to tcr@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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 Mt. 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
    Website: www.torchriver.ca
    or
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995 or Toll Free 1-800-540-1995