Torq Resources Inc. is pleased to announce that as of July 31, 2024 it has entered into a non-binding term sheet with an affiliate of Gold Fields Ltd. with respect to a proposed option and joint venture agreement to advance the exploration and development of Torq's Santa Cecilia copper-gold project in Chile . Under the Option Agreement, Gold Fields is to be granted a two-stage option to acquire up to a 75% interest in the [...]
Torq Resources Inc. is pleased to announce the Company has received conditional TSX Venture Exchange approval to extend the offering to August 25, 2024 subject to customary conditions including the absence of material changes during the extended offering period. Raising any further funds remains subject to the execution of additional subscription agreements by investors. Shawn Wallace CEO & Chair For further information [...]
Torq Resources Inc. is pleased to announce that it has completed the first tranche of its non-brokered private placement, the terms of which were announced on May 7, 2024 , by issuing 4,645,300 units of the Company at an offering price of $0.10 per Unit for gross proceeds of C$464,530. The Company has received conditional TSX Venture Exchange approval to extend the offering to July 26, 2024 subject to customary conditions [...]
Torq Resources Inc. is pleased to announce the second set of results from the recently completed Phase II drilling program at its Santa Cecilia project, located in the prolific Maricunga belt, in the Atacama region of Chile . The second discovery hole, 24SC-DDH-005, intercepted an interval of 120 m with 1.33 g/t gold , 0.096% copper at a depth of 376 m to 496 m ending in mineralization. A high-grade quartz vein was [...]
Torq Resources Inc. is pleased to announce it is undertaking a private placement of up to 15,000,000 units of the Company at an offering price of $0.10 per Unit for gross proceeds to the Company of up to $1.5 million . Each Unit consists of one common share of the Company and one half of one common share purchase warrant of the Company . Each whole Warrant will entitle the holder thereof to purchase one common share of [...]
Torq Resources Inc. is pleased to announce the first set of results from the recently completed phase II drill program at its Santa Cecilia project, located in the prolific Maricunga belt, in the Atacama region of Chile. The program consisted of approximately 1,500 metres over three diamond drill holes; two located at the Pircas Norte target and one at the Gemelos Norte target. Drill hole 24SC-DDH-003 intercepted 0.36 g/t [...]
Torq Resources Inc. is pleased to announce the appointment of Waldo Cuadra, Torq's General Manager in Chile and an Officer, as Director of the Company. Mr. Cuadra has been leading Torq's technical team in Chile since he joined the Company in 2020. He brings over 40 years of experience both as a geologist and an executive within the mining industry. He has led multi-disciplinary teams in exploration, development [...]
Torq Resources Inc. announces that effective immediately the Company has implemented cash preservation measures including an immediate 50% pay cut for all salaried North American senior executives, a deferral of those reduced salaries until a financing permits payment and a deferral of all directors cash compensation. The Company will also effect reductions of all non-essential employees and contractors and intends to [...]
Torq Resources Inc. is pleased to announce it has engaged the services of Independent Trading Group to provide market-making services in accordance with policies of the TSX Venture Exchange . ITG will trade shares of the Company on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares. Under the agreement, ITG will receive compensation of CAD$6,000 per [...]
Torq Resources Inc. is pleased to announce the commencement of drilling at its Santa Cecilia gold - copper project located in the world-class Maricunga belt in northern Chile, approximately 100 kilometres east of the city of Copiapo. The Santa Cecilia project is immediately adjacent to the Norte Abierto project, held by Newmont and Barrick, which is comprised of the Caspiche and Cerro Casale gold - copper porphyry [...]
Torq Resources Inc. is pleased to provide a summary of key activities and achievements over the past calendar year and look ahead at what's to come in 2024. Torq kicked off this year with the completion of a financing of $5.3M on January 4th, which will allow the Company to initiate its second drill program at its flagship gold-copper project in Chile, Santa Cecilia, where it completed a successful inaugural drill program [...]
Torq Resources Inc. is pleased to announce that it has completed its previously announced concurrent public and private offerings of equity securities . The Company issued 23,206,860 units at a price of C$0.23 per Unit for gross proceeds of C$5,337,577.80 including C$1,305,999.80 in a concurrent private placement to Gold Fields Atacama Holdings Inc. , a wholly owned affiliate of the international major mining company [...]
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