Torq Sources (TORQ.V) has introduced it has acquired an choice to earn full possession of the Margarita IOCG challenge in Chile. Earlier drilling has already encountered copper oxide mineralization with reported grades of 0.2-0.6% copper over a width of 30-120 meters as much as a vertical depth of 210 meters. In accordance with the corporate, not one of the holes has hit main copper sulphide but.
This copper oxide goal is fascinating, however the location is a little bit little bit of a nuisance because it seems just like the map signifies solely a portion of the oxide goal is definitely positioned on the Margarita declare bundle and solely 13 of the 39 holes which have outlined the mineralization are on the Margarita claims. In accordance with the Torq press launch, the footprint of the oxide mineralization leads to an exploration goal of 20-35 million tonnes of copper, but it surely’s not clear if this discusses all the mineralized footprint or solely the sections which are really positioned on the Margarita claims.
As a part of the settlement, Torq should make US$6.2M in money funds and full US$3.05M in exploration expenditures on the challenge for the Margarita claims.
The Cototuda claims will be acquired for a collection of money funds totalling US$900,000.
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