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Torch River Resources Ltd.

Publié le 11 janvier 2012

Torch River News / Identifies 300 metre REE strike length

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Mots clés associés :   Dysprosium | Gadolinium | Lanthanum | Thorium |

TORCH RIVER RESOURCES

 

FOR IMMEDIATE RELEASE

January 11, 2012

 

Additional sampling identifies 300 m strike length of Rare Earth Elements & Thorium on Marble Breccia Zone at the Mount Copeland Project, Revelstoke, BC

 

Torch River Resources Ltd. (�Torch� or the �Corporation�) (TSX-V: TCR) (FRANKFURT: WNF) (U.S. pink sheets: TORVF) is pleased to announce  results from a total of 48 rock chip samples from Mount Copeland were analyzed for REE & multi-element ICP-MS carried out at Pioneer Labs Inc,, Richmond, BC (certificate number 2111123), and ALS Minerals, N Vancouver (certificate number VA11211509).  Elevated values of cerium, lanthanum, neodymium, praseodymium, samarium, dysprosium, gadolinium, zirconium, thorium, molybdenum & niobium occur in 24 of 48 rock chip samples.  Management is encouraged by these expanding results. 

 

The north slope of Mt. Copeland was covered by a glacier when the high grade molybdenum mine closed in 1973.  Subsequent melting of the glacier has allowed Torch to conduct surface prospecting above the old underground mine site and entry adit. The Marble Ridge Breccia Zone was the location of rock chip sample AR22 which contained, as previously reported, total REEs of 4.13%.   The average of the new samples 821, 828, 829, 832, 834 and 838 is over 1.2% REEs and ranges over 300 meters of strike length. As reported on October 5, 2011 samples 804,805,808,809 and 810 averaged .67% REEs.  A new reassay of these samples returned .91% REEs (certificate number VA11238839).   This area will be a main target of our 2012 drill program.  New maps of this area and other data referring to Mt. Copeland can be viewed on the Company�s web site:

www.torchriver.ca

 

The geochemical analysis of rock chip samples was taken from a 300 m strike length of semi-continous outcrop and there was identified REE & Th (low U) bearing mineralization on Torch�s 100% owned Mount Copeland mineral tenures.  In August, 2011  the Marble Ridge Breccia Zone was only exposed over a strike length of 15 m, but additional sampling in Sept reveals that the zone has over 300 m strike, and is open at both ends.  The following table lists results: 


      Sample # ppm Ce  ppm La ppm Nd  ppm Pr  ppm Sm ppm Dy ppm Y  ppm Zr  ppmTh  ppm Mo ppm Nb

804

2220

1650

432

155

59.3

42.8

 

291

407

8

 

805

2120

1740

339

133

40.9

34.1

 

113

405

25

 

808

3440

2790

552

218

65.6

64.2

 

164

575

70

 

809

1820

1540

277

112

31.5

25.6

 

149

527

21

 

810

2920

2690

389

168

41.6

33.9

 

81

351

3

 

814

1390

1335

222

93.9

26.1

22.9

174.5

48

337

64

      26.4

815

1365

1295

224

93.4

27.7

22.4

160.5

92

292

63

34.1

821

2350

2450

408

148.5

41.1

33.8

253

93

349

3

22.8

822

1235

1255

230

82.3

23.9

20.9

152

98

247

4

23.1

827

1270

1090

264

100.5

37.5

28.1

191.5

503

576

6

239

828

2140

1970

374

155

43.3

32.4

250

826

248

8

159

829

3360

3130

548

230

61.2

51.2

397

356

>1000

3

96.9

831

1795

1715

300

126.5

34.5

26.9

212

167

162

10

52.7

832

6100

5780

969

405

104.5

87

712

145

>1000

589

88.2

834

4750

4070

747

316

77.6

60.8

114.5

558

>1000

16

195.5

835

1695

1435

285

121.5

30.4

21.2

412

123

>1000

26

39.8

836

714

697

134

50.9

18.3

14.3

112.5

1930

172

44

164

837

520

515

86.9

35.1

10.7

6.69

50.1

141

67.1

312

44.2

838

7850

7040

1215

512

152

123

856

161

>1000

183

93.8

839

553

495

102

39.6

13.35

8.65

53.1

140

58.6

9

30

842

187

96.6

66.7

19.7

11.85

9.37

70.8

275

2.61

6520

198.5

901

29.1

21.4

6.5

2.31

0.96

0.95

7.9

1940

6.47

3760

1100

902

34.9

19.4

11.2

3.4

1.82

1.18

8.4

1360

4.58

12225

501

903

55.6

30.4

17.1

5.43

2.65

1.51

9.8

937

14.05

6020

1965

NOTE- all rock chip samples represent a true width of 0.5 m, samples 801-842 were from the Marble Ridge Breccia, samples 901-903 were from the Glacier Zone

 

In addition to rock chip sample a detailed magnetometer survey was carried out over a 350 X 200 m area to locate zones of pyrrhotite and/or magnetite/ilmenite (which are magnetic and paramagnetic minerals).  The magnetometer survey revealed numerous 1000-3,000 nT anomalies located on and adjacent to the marble breccia ridge crest.  The magnetometer anomalies represent future drill targets because pyrrhotite, magnetite and ilmenite are closely associated with elevated rare earth elements.

 

The geological setting for the Copeland molybdenite occurrence is within concordant bodies of nepheline syenite gneiss that occur adjacent to the calc-silicate gneiss and marble unit.  The syenite have locally developed an augen texture with large porphyryblasts of K-feldspar in a fine-grained groundmass. Calc-silicate assemblages contain diopside, garnet and actinolite.  Carbonates and carbonatites are re-crystallized to medium and locally coarse-grained granoblastic marbles. Lithologies present are summarized as follows:

 

PROTEROZOIC (PRE-CAMBRIAN)

8- Syenite Aplite/Syenite Pegmatite: K-feldpsar, kaolinite, sericite, calcite, biotite, fluorite, garnet, sphene, specularite, pyrrhotite, pyrite, molybdenite, ilmenite, chalcopyrite, scheelite, tourmaline, apatite, riebeckite, poikilitic aegirine, zircon, zeolite, cancrinite, and analcite

7- Hangingwall Syenite Gneiss, Nepheline Syenite: K-feldspar, green/brown phlogopite, calcite, chlorite, accessory apatite, zircon, sphene, tourmaline, sphene, apatite, riebeckite, poikilitic aegirine, zircon, fluorite, zeolite, cancrinite and analcite

6- Biotite-Amphibole Marble: weathered and deeply pitted appearance, biotite, hornblende, chlorite, marble (granoblastic), actinolite, diopside

5- Black Biotite Amphibole Gneiss: biotite, hornblende, chlorite, oligoclase, magnetite

4- Quartzite Gneiss:feldspar, granular, interbedded marble bands, actinolite & diopside

3- Footwall Schist: massive biotite, minor feldspar, chlorite

2- Footwall Syenite Gneiss: microcline/oligoclase, green/brown mica, chlorite

1- Green Diopside Gneiss: 50% feldspar, 10-35% biotite, 2-10% green diopside,

 

Mount Copeland Glacier Zone features underground production (1970-73) that extracted 169,729 tonnes and recovered 2,625,046 pounds (1,190,713 kilograms) of molybdenum.  When the Mount Copeland Glacier Zone molybdenum mine went into production in 1970, development work (diamond drilling, mapping, sampling) indicated there was 163,340 tonnes @ 1.1% Mo (Fyles, 1973).  Mount Copeland nepheline syenite complex geologically correlates with the west flank of the Frenchman�s Cap gneiss dome, which includes REE enriched deposits located along the Perry River/Ratchford Creek and Mount Grace areas.   

 

The fieldwork carried out in 2011 on Mount Copeland was conducted and supervised by Andris Kikauka, P.Geo., a Qualified Person pursuant to National Instrument 43-101.  Mr. Kikauka has reviewed the contents of this news release. Torch River Resources will be following up REE, Mo, Nb & Th bearing mineralization on its 100% owned Mount Copeland mineral property.  In order to assess Copeland Project mineral resources Management will be conducting surface sampling and diamond drilling in the area of the molybdenum-niobium bearing vein type mineralization (Glacier Zone) and exploring granoblastic replacement type mineralization (Marble Breccia Ridge Zone).  

 


William E. Pfaffenberger, President and Chief Executive Officer (www.torchriver.ca), Telephone No. (403) 444-6888

 or

 ProActive Communications Co., Local Vancouver: (604) 541-1995 Or toll free            (800) 540-1995

Forward Looking Information

 

This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the Mount Copeland Property.  Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch�s forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch  does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.

 

 

Neither 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 release._______________________________________________________________________________

Bankers Hall West Tower,

Bankers Hall West Tower, Suite 1000, 888 � 3rd St.  S.W.    

Calgary, Alberta T2

Torch River Resources Ltd.

EXPLORATEUR
CODE : TCR.V
ISIN : CA79015E1060
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Torch River est une société d’exploration minière d'or et de cuivre basée au Canada.

Torch River détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont MT. COPELAND, GROUSE MOUNTAIN, HIGHROCK ISLAND, NAHMINT et RED BIRD au Canada.

Torch River est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,2 millions CA$ (2,2 millions US$, 1,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 0,91 CA$, et son plus bas niveau récent le 12 avril 2013 à 0,01 CA$.

Torch River possède 44 888 000 actions en circulation.

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