VANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) — via IBN – Torr Metals Inc. (“Torr” or the “Company“) (TSX-V: TMET.V) is pleased to announce the successful completion of its large-scale surface geochemical exploration program with the collection of 1,092 soil and 44 rock grab samples at the 100%-owned 261 km² Filion Gold Project (“Filion” or the “Project”) in northern Ontario (Figure 1, Figure 2).
The drill-permitted Filion Project lies at a geological crossroads in northern Ontario, surrounded by prolific gold-endowed greenstone belts renowned for hosting world-class deposits to the west, south, and east (Figure 2). The Project benefits from exceptional infrastructure, including year-round road access via Trans-Canada Highway 11, a parallelling regional railway and provincial power grid, and proximity to Kapuskasing (population 8,400), just 30 kilometers to the southeast.
Highlights of 2024 Field Program to Date:
- Expanded Exploration Coverage in Filion West: A comprehensive 8.8 km² soil sampling and prospecting grid has been completed; covering previously underexplored airborne geophysical anomalies, historical trenching and gold occurrences across a 7 kilometer (km) strike-length (Figure 1). This effort builds on the 2023 discovery of six gold soil anomalies with strike lengths up to 1,200 meters (m) and grades as high as 1.32 grams per tonne (g/t) gold (Au), extending across a 2-km-wide corridor.
- Multiple LiDAR-Driven Discoveries: Advanced LiDAR technology provided new high-priority zones for targeted mapping and rock grab sampling in mainly thin (<1 m) till cover. This included locations of 17 undocumented historical trenches that occur across a 3 km strike-length, along-trend of anomalous 2023 gold soil anomalies and anchored by historically trenched rock outcrop that reported assays up to 91.4 g/t Au over 0.3 m in chip or channel samples and 9.1 g/t Au in rock grab samples at the Miller East and Oscar Zones1, respectively (Figure 1).
- Untapped Potential Across an Expansive Land Package: Recent prospecting and mapping of mineralized outcrop along accessible roadways have confirmed that the Filion East area hosts the same favorable geology and structural controls observed in Filion West (Figure 1). With no documented history of exploration in Filion East, these findings significantly enhance the overall prospectivity of the entire 42 km-long, gold-endowed Filion Fault system, underscoring the vast exploration opportunity within this district-scale land package within a region known for major gold deposits (Figure 2).
“We are advancing toward a pivotal phase at the Filion Gold Project,” stated Malcolm Dorsey, president and CEO of Torr Metals. “The successful completion of a comprehensive soil sampling and prospecting grid in Filion West along with multiple high-priority discoveries highlights the project’s exceptional untapped potential, while adding significant value to our 2023 work. Equally exciting is the confirmation of shared structural controls with prospective geology in Filion East, indicating the potential for previously unknown gold endowment to extend over the 42 km strike-length of the Filion Fault system. With both Filion West and East permitted for drilling and the imminent commencement of a combined ground magnetic and VLF-EM geophysical survey, we are poised to refine our understanding of key anomalies. This integrated approach will help prioritize future drill targets, offering multiple unique opportunities for potentially significant new grassroots discoveries.”
Ground Magnetic VLF-EM Geophysical Survey
With assays pending, Torr will be immediately initiating a combined ground magnetic – very low frequency (VLF) electromagnetic (EM) geophysical survey covering the Filion West soil grid. VLF-EM surveys are effective at detecting subsurface shear zones, faults, and stratigraphic contacts linked to mineralization; while ground magnetic surveys complement this by identifying magnetic lineaments and breaks (magnetic lows) indicative of structural features, lithological contrasts or hydrothermal alteration (through the destruction of magnetite), which can be favorable for gold emplacement.
1Luhta, L. 1985. Ontario Ministry of Natural Resources, Timmins. Resident Geologist files T-0201. Certificate not available.
Qualified Person
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.
About Torr Metals
Torr Metals, based in Vancouver, BC, is committed to advancing its 100% owned, district-scale copper-gold porphyry and orogenic gold projects in highly accessible regions across Canada. Each project benefits from excellent access to provincial and regional mining infrastructure, enabling cost-effective development and year-round exploration potential. The 240 km² Kolos Copper-Gold Project, located in the prolific Quesnel Terrane, sits just 30 km southeast of Canada’s largest open-pit copper mine at Highland Valley and 40 km south of the city of Kamloops along Highway 5. The 261 km² Filion Gold Project lies in northern Ontario adjacent to the Trans-Canada Highway 11, approximately 42 km northwest of the town of Kapuskasing. Filion encompasses an unexplored greenstone belt with high-grade gold potential just 202 km by highway from the world-class Hollinger, McIntyre, and Dome mines of the Timmins mining camp. For more information, visit Torr Metals’ website or view documents on SEDAR at www.sedarplus.com.
On behalf of the Board of Directors
Torr Metals Inc.
“Malcolm Dorsey”
Malcolm Dorsey
President, CEO and Director
For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email: malcolmd@torrmetals.com
Neither the 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 press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company’s recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or state that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur” or “be achieved.” Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management’s discussion and analysis which is available on the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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