Latest / Financial Survival Network / Torq Resources Makes Two More Copper-Gold Discoveries at Margarita

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Torq Resources Makes Two More Copper-Gold Discoveries at Margarita · Financial Survival Network

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  Up norf. Let's start with the parallel structure next to our original discovery at
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  five thirteen. I mean, we're running over a gram gold for forty meters
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  with half a percent copper. One thing that I'll say there, though,
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  is that the mineralizations about two hundred meters vertically deeper than anything else we've seen,
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  which just opens the whole thing up. So we can chase that intercept
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  up towards the surface. You know, we believe that it actually will probably
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  impact the five thirteen discovery. We want to drill a little deeper on that
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  now now that we know that mineralization occurs, and high grade mineralization occurs.
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  The Financial Survival Network now more than network, the Financial Survival Network. Welcome,
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  this is Financial Survival Network. I'm your host, Kerry Lutz. We
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  are here with Torque Resources CEO Sean Wallace and Chief Geological Officer Michael Henrickson for
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  a major, major sponsor update. Sean tour could just release the news yesterday
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  that you made two important discoveries at the Margarita Project to fill us in significance
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  impact importance. Yeah, well, thanks, Kerry. You know, this
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  is a very impactful moment for Torque. In terms of Margarita, you know,
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  we had made a discovery there last year grade it was sort of hanging
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  out there in space, and then we went looking for could this have some
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  size? That was the second program. Yes it could have some size.
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  So this third round that we did was like, is there, you know,
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  could there be something of economic significance outside of what we'd already discovered.
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  And as you've seen from our news that we just released here yesterday, that
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  indeed there are two things. One of them is similar to the FIA thirteen
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  discovery. It's a parallel structure, I mean, and it shows great grade
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  and coppers what we came to hope for from FIA thirteen. But it's a
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  whole other body. So that says to Fire thirteen, yeah, you can
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  be big enough to get somebody interested to have that. We might be getting
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  that critical mass where that is, you know, a mineable resource. We'll
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  have to go drill sowre obviously to flesh that out, but now it looks
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  like that seeming like that's quite possible. And then down to the south Boom,
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  this Ox side. We always knew there was oxide down there, but
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  the work that had been done there was sort of pickup truck level, you
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  know, just grabbing the low hanging fruit from the surface type work. And
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  you know, we drilled that we had this fantastic you know, one hundred
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  and fifty meters of like half a percent. So what what more could you
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  ask for from oxide that there are companies out there would love to mind that
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  sort of thing all day long if we can make it big enough. So
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  what's impactful about this is Margarita is a project that we're going to continue to
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  work on. It's a project that we're going to put extra effort, and
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  it's a project that's going to attract a lot of interest from the appropriate type
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  suitors, i e. Mid tier mining companies, and you know there are
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  a number of them active in the area. So it's it works quite well.
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  And so Michael, it's good to see you again. Hey, the
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  grades here and the breadth of what you've uncovered, can you just fill us
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  in a little bit on that, Yeah, I mean certainly up. Nor
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  if let's start with the parallel structure next to our original discovery at five thirteen,
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  I mean we're running over a gram gold for forty meters with half a
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  percent copper one thing that I'll say there though, is that the mineralizations about
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  two hundred meters vertically deeper than anything else we've seen, which just opens the
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  whole thing up. So we can chase that intercept up towards the surface.
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  You know, we believe that it actually will probably impact the five thirteen discovery.
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  We want to drill a little deeper on that now now that we know
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  that mineralization occurs and high grade mineralization occurs, and all of this that we're
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  intersecting is you know, they're open, pittable depths, so you know,
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  really extremely positive up there. As Sean said, in terms of scale with
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  respect to the south and the Aux side, I mean, look a hundred
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  I think it was one hundred and thirty four meters just shy half percent and
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  oxide beautiful, you know, absolutely beautiful. And its location is tremendous in
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  that that intercept is situated right at the contact of volcanics and intrusives, which
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  means you can have these flatlining Manto type style of mineralization and you build tons
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  quick if that is the case. So it's just it's just blown the doors
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  open for scale on the project. And I think you know, Luckily in
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  my career, I've participated in a number of discoveries and it's got that feel
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  to it right now. You know, every time we step out with the
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  drill, we find something and that's a rare that's a rare thing. So
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  we're we're very happy with the way this is going. Yeah, you've had
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  a lot of news, a lot of results. We still have seven more
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  drill holes to go, Michael, and can the news get? How much
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  better can the news get? I mean, look, Carrie, for me,
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  the news like you know, when you're exploring, like we did.
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  You know, we were putting one hole into various targets and so already I
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  would tell you that the news, the news is huge for us. You
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  know, we we see large scale copper oxide potential and our initial discovery getting
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  a lot bigger. I mean, who knows what happens in these next holes.
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  I haven't seen any results, so you know, I can't comment on
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  that, but already, just where we're at, fantastic program. So looking
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  ahead to twenty twenty four, phase four of the project, what are you
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  leaning towards there? Yeah, I mean it looks just to take it from
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  a technical standpoint, only you know, look, I right away, I
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  would say, you know, so far we put eleven eight hundred meters just
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  shy twelve thousand meters into Margarita with the current. What happened in this round
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  of drilling. You know, we have three bodies that we kind of got
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  to go chase after and do what we did in phase two by showing their
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  continuance so I could see, you know, technically I could rationalize ten thousand
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  meters no problem, and I would like to see us do it. I'd
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  like to see a diamond rig out there as well, you know, maybe
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  one RC one diamond. That Round four is different, you know, with
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  with round two we had a single hole into a discovery and then we drilled,
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  you know, to see it can be continuous. In this case,
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  we've got three structures. We've got to do that too. Now we got
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  the parallel structure at five thirteen, the Codo Tuda structure and the Margarita structures.
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  So you know, just right away you can see the scale of the
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  program that's justified from a technical perspective. Yeah, we're looking forward to that.
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  So Sean, you know phase four obviously you're onto something here, but
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  the market has has honored you with its indifference. But at the same time
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  as the market is indifferent, the companies, the potential acquirers, suitors,
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  whatever, are showing more interest than ever. Yeah, I think I think
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  there's something that's been going on industry wide. Michael and I attended the Beaver
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  Creek Concert conference here recently, and there was a lot of activity from mid
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  tier companies wanting to talk to not only US, but the other companies because
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  they can see this disconnect between what's happening with some companies ours in particular,
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  I think uh and the valuation versus like what's happening at the project, the
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  developments, and then the fact that it's not being reflected in the market,
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  which only really increases the value proposition for anybody wanting to come in, be
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  it an investor or a corporate or whomever. When you look at the company
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  that's making these having these big accomplishments, but not their market cap isn't going
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  along with it. So I think that that you know, a lot of
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  companies are shopping right now because the because it's things are on sale. Fortunately
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  for us we have we hold our shares very well, so the only thing
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  that's going to happen to us is what let we let happen to us,
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  and so people don't have to be worry about anyone coming in taking advantage.
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  But certainly it feels good to have an asset that you know is being coveted
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  by the people that ultimately we want to sell to. As that is our
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  business plan, that's the back end of what we do. We try and
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  sell these assets after we've added value to them. And if I do some
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  back of the envelope calculations and a meth was never my strong suit, it's
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  almost looking like pork is a value play. I would suggest there's a lot
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  of evidence that can strongly support that notion. Right, So eventually, in
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  any market, value wins out. And we still have the Santa Cecilia project,
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  which prospectivity is exciting. As Margarita, well, I mean we increased
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  the grade bio a goal grade over by seventy eighty percent here in two drolls
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  and our first campaign through there. So we're chalk now that we've got everything
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  back from Margarita. As great as that is, we love it, we're
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  chopping at the bit to go up and continue to expose the value that we
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  believe and that our work thus far has led us to believe it exists.
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  At Santa Cecily, I've never felt better about a project than I do that
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  one. So you kind of have to balance, Michael, these two projects.
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  I mean, most companies, most geologists are happy to find one of
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  them in their lives. And obviously you've done multiple You've done it many times
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  before. But now you've got two potential monsters that you're sitting on. Yeah,
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  I mean, look, it's a fantastic position to be. And you
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  know, when we originally went to Chile, you know, we obviously all
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  know about the world the world's best coppera endowments in Chile, and we knew
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  this, and you know, I think by teaming with our Chilean team,
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  you know, Waldo Quadra and his team, we're just starting to realize the
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  potential of what Torque's got. I mean, tab two projects is exciting,
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  as you can imagine. Now, we just got to continue to advance them,
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  you know, and we've been doing a good job of that. You
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  know, We're we're now in a phase I think crucially where you know,
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  most of the pre you know, all the pre drilling targeting works really being
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  done at Santa Sicilia, so we're just able to go up there with the
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  drill. You know, news out of Santa Cecily will be drilled bit and
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  obviously you know there'll be plenty of drilling news coming out of Margarita in the
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  future as well. So we're extremely well positioned right now. And Sean has
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  the Treasury looking to finance the future drill programs. Well, you know,
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  Gary, that's the one thing that this disconnect provides a challenge for us.
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  As you know, we have a good track record of being able to raise
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  capital when we need it and on terms that are generally beneficial. That has
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  not been the case for about twelve to twenty four months here even longer for
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  that matter. And so what you we have about three point eight million dollars
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  in the bank today. We're going to have to raise additional capital. But
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  you know, as always, our team has always been to be you know,
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  since to dilution and the value proposition for existing shareholders and the people you're
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  bringing in. So you know, probably see us continue to do smaller financings
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  more frequently. It's not how I like to do it, it's not how
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  it is better for the business. If we could do big ones and then
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  do them less frequently because it's distracting and it takes resources to go and do
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  that. But that's that's the hand we're being dealt right now. It doesn't
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  we don't have a say in that matter, and therefore we're just going to
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  do the best job we can within that environment. And I think our strategy
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  has sound and then we'll be able to maintain the value proposition for shareholders,
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  and that's we're keenly focused on that, right Yeah, well, hey,
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  you got to you got to do what the market dictates. You don't have
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  a lot of freedom in that respect. But hey, I'm sure everybody investors
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  companies that have invested today couldn't be happier. Well, it could be worse.
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  We could be missing at the projects and then we'd be in a whole
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  other world or hurt, wouldn't Well, yeah, fortunately that's not an issue,
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  and I guess we can look forward to more good things in the not
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  too distant future. In any event, I suggest everybody go over to the
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  company's website, which is Torque Resources dot com and sign up for notifications,
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  because it sounds like the news cycle is about to pick up the ticker symbols
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  in the in Canada t S the ts X, it's t O r Q,
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  and of course in the US it's t R B m F. Gentlemen,
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  Michael Shawn, thanks for stopping by. Thanks Garry, our pleasure.
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  Thank you The Financial Survival Network