Kolos Project location with annotated occurrences, Bertha Property location, and new claim staking in the northwest portion of the Project area.
VANCOUVER, British Columbia, March 11, 2025 (GLOBE NEWSWIRE) -- via IBN – Torr Metals Inc. (“Torr” or the "Company") (TSX-V: TMET.V) is pleased to announce the signing of an option agreement (the “Option Agreement”), subject to TSX Venture Exchange (“TSXV”) approval, to acquire 100% of the 57 km² Bertha Property (“Bertha”); contiguous to the northern portion of the Kolos Project (the “Project”). In addition, Torr has expanded its land position through strategic claim staking of 35 km² of highly prospective ground surrounding Bertha, bringing the newly acquired area under 100% Torr ownership with no underlying royalties (Figure 1).
The Bertha Property hosts nine significant copper and gold occurrences along an epithermal and porphyry trend extending northwest from Torr’s newly defined Sonic Zone (see January 14, 2025 news release). Despite its strong copper (Cu) and gold (Au) potential, the Bertha area has remained largely underexplored, with no systematic regional exploration, having only been consolidated into a single property in late 2024. Through this acquisition and claim staking the Kolos Project now covers 332 km² along Highways 5 and 97C, strategically located 24 kilometers (km) east of Canada’s largest open-pit copper mine at Highland Valley and 27 km south of the high-grade New Afton copper-gold mine near Kamloops (Figure 1).
Highlights:
High-Grade Copper in Outcrop with Drill Permit
A 7 km² drill-permitted area covers the Bertha, JHC, and Rhyolite occurrences, where historical rock grab samples have returned up to 8.48% copper (Cu) in outcrop, historical reports indicate multiple zones of copper mineralization exposed in trenching over widths up to 7.6 meters (m) covered by only ~465 meters (m) of undocumented historical drilling (Figure 1).
The Bertha, JHC, and Rhyolite occurrences are situated along the margins of a northwest-trending highly magnetic geophysical anomaly, exhibiting a signature consistent with diorite and monzodiorite intrusions that host Cu-Au mineralization at the Sonic, Rea, Lodi, and Kirby alkalic porphyry exploration targets.
Untested Epithermal Gold-Silver Potential
Select historical results from the Plug occurrence include 1.30 g/t Au over 9.91 m from just 3 m depth in drilling, as well as 20.78 g/t Au and 113 g/t Ag over 0.56 m from trenching. At Meadow Creek, located ~1.5 km to the southeast of Plug, trenching returned 2.24 g/t Au and 400.6 g/t Ag over 4.44 m, as well as 6.24 g/t Au and 1715 g/t Ag over 0.36 m located proximal to pyritic feldspar porphyry intrusions trending southeast towards the Sonic Zone porphyry target (Figure 1). With evidence for both high-grade and bulk-tonnage potential, only 545.6 m of recorded historical drilling has been conducted on the Plug and Meadow occurrences to-date.
Only minimal historical drilling and trenching have tested the high-grade epithermal gold-silver targets at the Plug and Meadow Creek occurrences, associated with a linear low magnetic geophysical trend that extends for >5 km along a northwest trend between the Sonic Zone and Bertha-JHC-Rhyolite occurrences.
"The addition of the Bertha Property significantly enhances the Kolos Project by adding nine new high-grade copper and gold occurrences, with porphyry and epithermal potential, that remains largely untested," stated Malcolm Dorsey, President and CEO of Torr Metals. "With a drill permit in-hand covering key targets at Bertha we now have the ability to rapidly advance exploration and unlock the potential of this underexplored area. This acquisition not only increases the scale of our project to 332 km² within a prolific mining district, but it also positions us for a targeted 2025 drill program that will be instrumental in defining potentially new significant copper-gold discoveries in southern British Columbia. Additionally, we have received our water permit for the southern targets, consisting of the Kirby, Lodi, Ace, Rea, and Clapperton occurrences, an essential milestone and precursor to what we anticipate as the near-term approval of a drill permit for these high-priority targets. With multiple large-scale exploration targets now permitted or nearing permit approval, shareholders can look forward to a transformational year ahead as we take significant steps toward unlocking the full potential of Kolos."
Bertha Option Agreement Transaction Details
Torr has entered into a property option agreement (the “Bertha Property Option Agreement”) to acquire a 100% interest in a series of mineral claims located in the province of British Columbia referred to as the “Bertha Property” (Figure 1), subject to a 2% net smelter return.
Pursuant to the terms of the Bertha Property Option Agreement, Torr has the right to earn a 100% ownership interest in the Bertha Property as follows:
Pay $5,000 to the Property Owner upon signing of the Option Agreement (complete);
Within three months of TSXV approval issue 100,000 common shares and pay cash $20,000 to the property owners;
By December 31, 2025 complete $50,000 of expenditures on the Bertha Property;
On the 1st anniversary of the approval date, issue 200,000 common shares and pay cash $25,000 to the property owners, and complete a minimum of $125,000 of expenditures on the Bertha Property;
On the 2nd anniversary of the approval date, issue 200,000 common shares and pay cash $75,000 to the property owners, and complete a minimum of $250,000 of expenditures on the Bertha Property;
On the 3rd anniversary of the approval date, issue 400,000 common shares and pay cash $125,000 to the property owners, and complete a minimum of $500,000 of expenditures on the Bertha Property;
The Bertha Property net smelter return may be bought down by the Company at any time by 1% with a cash payment of $1,000,000 (CDN).
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the samples were digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Kolos Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control (“QA/QC”) measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.
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 advancing its 100% owned, district-scale copper-gold porphyry and orogenic gold projects, all organically generated in-house at minimal cost. Each project benefits from excellent infrastructure, enabling cost-effective, year-round exploration. The 332 km² Kolos Copper-Gold Project located in southern British Columbia’s Quesnel Terrane is just 24 km east of Canada’s largest open-pit copper mine at Highland Valley. In northern Ontario, the 261 km² Filion Gold Project lies along the Trans-Canada Highway 11, 42 km northwest of Kapuskasing, covering an unexplored greenstone belt with high-grade gold potential just 202 km from the world-class 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.
