Torr Metals (TSX-V:TMET) told investors it has staked the highly prospective Kolos Gold-Copper Project in south-central British Columbia, acquiring what it described as “new strong exploration targets within a highly favorable jurisdiction.”
The company said the project sits within the Quesnel Terrane, a prolific porphyry belt that is host to major deposits and long-lived mines, including the Highland Valley Copper Mine, about 30 km to the northwest.
Additionally, the 100%-owned project has direct access to Highway 5, with substantial local infrastructure, allowing for low-cost operational potential throughout the year.
"With highly prospective geological attributes, including significant geochemical anomalies, the Kolos Project has the potential for a major new discovery just as strategic investments by majors in BC copper exploration are heating up,” Torr Metals president and CEO Malcolm Dorsey commented.
“Through claim staking, we have secured the Kolos Project at low cost with potential for high payoff and significant shareholder value. We look forward to initiating our field exploration program without delay.”
Torr Metals noted that the Kolos Project hosts six never-drilled copper and gold occurrences that exhibit strong multi-element geochemical anomalism in historical rock and soil sampling. Numerous forestry roads provide drive-on access to the Lodi, Kirby, Ace, Rea, Helmer, and Clapperton target zones.
Despite regional exploration in the 1960s through to the late 1980s as a result of the porphyry copper-molybdenum discoveries at Highland Valley, it said the majority of the area is still left underexplored with high potential for new discovery.
Historical rock grab sampling from outcrop at the Kirby occurrence yielded 4.24 grams per tonne (g/t) gold (Au), 11.3 g/t silver (Ag) and 0.52% copper (Cu), centred within a soil anomaly of greater than 100 parts per million (ppm) Cu measuring 1200 by 800 metres (m) that remains open to the south and southwest.
From a total of 349 historical soil samples at the Kirby target, 96 yielded greater than 100 ppm Cu and 11 yielded over 200 ppm Cu, coincident with anomalous arsenic in soil, Torr Metals said.
The company plans to immediately start its 2023 field program at the project, consisting of up to 2,300 planned soil samples as well as rock sampling; with a focus on testing potential extensions to historical geochemical anomalies.
A property-wide airborne ZTEM geophysical survey will also be conducted in October 2023, it added.
Contact the author at stephen.gunnion@proactiveinvestors.com