Torq Resources’ (OTCQX:TRBMF—TSX.V:TORQ) Executive Chair Shawn Wallace and Chief Geologist Michael Henrichsen joined us for a sponsor update. News is starting to pick up. Assay results on their 13 hole maiden drill program at Margarita are expected shortly. While never drilled before, all indications are that there’s great prospectivity here. They had been trying to land this project for quite a while and finally acquired it last year. Phase 2 will commence later in the year and the company has done two recent capital raises to advance the project. Drill targets will be established upon analysis of Phase 1’s results.
Concerning the company’s Santa Cecilia project, Wallace states, “We’ve been engaging with the communities … community initiatives are as important as anything else we do … including the technical work and the financial work. [We’re crafting] a relationship with the local community, that’s going to endure over time … It’s not a small task.” Once the process is complete, the project will be permitted and quickly move ahead. For good reason too, as two 2012 prior drill holes yielded nearly 1 kilometer of 0.45% copper equivalent.
The recent price movements in gold and copper, at least partly due to geopolitical issues, were already heading in the right direction before the war erupted. Wallace expects demand for copper will continue to eclipse supply, which will inevitably lead to higher copper prices and greater pursuit of copper projects. That’s good news for Torq’s shareholders, who along with the rest of the sector have recently experienced less than stellar results. But all of that’s about to change, which is why we’re shareholders.
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