Torq Resources (TSXV: TORQ | OTCQX: TRBMF) just announced that it has identified three primary target areas at the Margarita Iron-Oxide-Copper-Gold (IOCG) project in northern Chile that form the basis for the upcoming 4,000 metre reverse circulation drill program, slated to begin later this month. The targets were defined using data from recent geophysical and geochemical surveys as well as a geological mapping program.
Executive chairman Shawn Wallace stated: “The refinement of drill targets at the Margarita project has our entire team excited about the prospectivity of the project and the real opportunity to make a major new discovery in one of the best jurisdictions for mining on the planet. We are anxiously awaiting the commencement of our drill program later this month. Furthermore, the Company is very pleased with the progress being made in the planning for the Andrea project, with work anticipated to commence in early 2022.”
The Margarita project is located within the prolific Coastal Cordillera belt that hosts the world-class Candelaria (Lundin Mining Corp.) and Manto Verde (Mantos Copper Holding) IOCG mines, and porphyry-skarn deposits such as Santo Domingo (Capstone Mining Corp.) and Inca de Oro (PanAust/Codelco). Drilling is scheduled for Q3 of this year.
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