Up norf. Let's start with the parallel structure next to our original discovery at
five thirteen. I mean, we're running over a gram gold for forty meters
with half a percent copper. One thing that I'll say there, though,
is that the mineralizations about two hundred meters vertically deeper than anything else we've seen,
which just opens the whole thing up. So we can chase that intercept
up towards the surface. You know, we believe that it actually will probably
impact the five thirteen discovery. We want to drill a little deeper on that
now now that we know that mineralization occurs, and high grade mineralization occurs.
The Financial Survival Network now more than network, the Financial Survival Network. Welcome,
this is Financial Survival Network. I'm your host, Kerry Lutz. We
are here with Torque Resources CEO Sean Wallace and Chief Geological Officer Michael Henrickson for
a major, major sponsor update. Sean tour could just release the news yesterday
that you made two important discoveries at the Margarita Project to fill us in significance
impact importance. Yeah, well, thanks, Kerry. You know, this
is a very impactful moment for Torque. In terms of Margarita, you know,
we had made a discovery there last year grade it was sort of hanging
out there in space, and then we went looking for could this have some
size? That was the second program. Yes it could have some size.
So this third round that we did was like, is there, you know,
could there be something of economic significance outside of what we'd already discovered.
And as you've seen from our news that we just released here yesterday, that
indeed there are two things. One of them is similar to the FIA thirteen
discovery. It's a parallel structure, I mean, and it shows great grade
and coppers what we came to hope for from FIA thirteen. But it's a
whole other body. So that says to Fire thirteen, yeah, you can
be big enough to get somebody interested to have that. We might be getting
that critical mass where that is, you know, a mineable resource. We'll
have to go drill sowre obviously to flesh that out, but now it looks
like that seeming like that's quite possible. And then down to the south Boom,
this Ox side. We always knew there was oxide down there, but
the work that had been done there was sort of pickup truck level, you
know, just grabbing the low hanging fruit from the surface type work. And
you know, we drilled that we had this fantastic you know, one hundred
and fifty meters of like half a percent. So what what more could you
ask for from oxide that there are companies out there would love to mind that
sort of thing all day long if we can make it big enough. So
what's impactful about this is Margarita is a project that we're going to continue to
work on. It's a project that we're going to put extra effort, and
it's a project that's going to attract a lot of interest from the appropriate type
suitors, i e. Mid tier mining companies, and you know there are
a number of them active in the area. So it's it works quite well.
And so Michael, it's good to see you again. Hey, the
grades here and the breadth of what you've uncovered, can you just fill us
in a little bit on that, Yeah, I mean certainly up. Nor
if let's start with the parallel structure next to our original discovery at five thirteen,
I mean we're running over a gram gold for forty meters with half a
percent copper one thing that I'll say there though, is that the mineralizations about
two hundred meters vertically deeper than anything else we've seen, which just opens the
whole thing up. So we can chase that intercept up towards the surface.
You know, we believe that it actually will probably impact the five thirteen discovery.
We want to drill a little deeper on that now now that we know
that mineralization occurs and high grade mineralization occurs, and all of this that we're
intersecting is you know, they're open, pittable depths, so you know,
really extremely positive up there. As Sean said, in terms of scale with
respect to the south and the Aux side, I mean, look a hundred
I think it was one hundred and thirty four meters just shy half percent and
oxide beautiful, you know, absolutely beautiful. And its location is tremendous in
that that intercept is situated right at the contact of volcanics and intrusives, which
means you can have these flatlining Manto type style of mineralization and you build tons
quick if that is the case. So it's just it's just blown the doors
open for scale on the project. And I think you know, Luckily in
my career, I've participated in a number of discoveries and it's got that feel
to it right now. You know, every time we step out with the
drill, we find something and that's a rare that's a rare thing. So
we're we're very happy with the way this is going. Yeah, you've had
a lot of news, a lot of results. We still have seven more
drill holes to go, Michael, and can the news get? How much
better can the news get? I mean, look, Carrie, for me,
the news like you know, when you're exploring, like we did.
You know, we were putting one hole into various targets and so already I
would tell you that the news, the news is huge for us. You
know, we we see large scale copper oxide potential and our initial discovery getting
a lot bigger. I mean, who knows what happens in these next holes.
I haven't seen any results, so you know, I can't comment on
that, but already, just where we're at, fantastic program. So looking
ahead to twenty twenty four, phase four of the project, what are you
leaning towards there? Yeah, I mean it looks just to take it from
a technical standpoint, only you know, look, I right away, I
would say, you know, so far we put eleven eight hundred meters just
shy twelve thousand meters into Margarita with the current. What happened in this round
of drilling. You know, we have three bodies that we kind of got
to go chase after and do what we did in phase two by showing their
continuance so I could see, you know, technically I could rationalize ten thousand
meters no problem, and I would like to see us do it. I'd
like to see a diamond rig out there as well, you know, maybe
one RC one diamond. That Round four is different, you know, with
with round two we had a single hole into a discovery and then we drilled,
you know, to see it can be continuous. In this case,
we've got three structures. We've got to do that too. Now we got
the parallel structure at five thirteen, the Codo Tuda structure and the Margarita structures.
So you know, just right away you can see the scale of the
program that's justified from a technical perspective. Yeah, we're looking forward to that.
So Sean, you know phase four obviously you're onto something here, but
the market has has honored you with its indifference. But at the same time
as the market is indifferent, the companies, the potential acquirers, suitors,
whatever, are showing more interest than ever. Yeah, I think I think
there's something that's been going on industry wide. Michael and I attended the Beaver
Creek Concert conference here recently, and there was a lot of activity from mid
tier companies wanting to talk to not only US, but the other companies because
they can see this disconnect between what's happening with some companies ours in particular,
I think uh and the valuation versus like what's happening at the project, the
developments, and then the fact that it's not being reflected in the market,
which only really increases the value proposition for anybody wanting to come in, be
it an investor or a corporate or whomever. When you look at the company
that's making these having these big accomplishments, but not their market cap isn't going
along with it. So I think that that you know, a lot of
companies are shopping right now because the because it's things are on sale. Fortunately
for us we have we hold our shares very well, so the only thing
that's going to happen to us is what let we let happen to us,
and so people don't have to be worry about anyone coming in taking advantage.
But certainly it feels good to have an asset that you know is being coveted
by the people that ultimately we want to sell to. As that is our
business plan, that's the back end of what we do. We try and
sell these assets after we've added value to them. And if I do some
back of the envelope calculations and a meth was never my strong suit, it's
almost looking like pork is a value play. I would suggest there's a lot
of evidence that can strongly support that notion. Right, So eventually, in
any market, value wins out. And we still have the Santa Cecilia project,
which prospectivity is exciting. As Margarita, well, I mean we increased
the grade bio a goal grade over by seventy eighty percent here in two drolls
and our first campaign through there. So we're chalk now that we've got everything
back from Margarita. As great as that is, we love it, we're
chopping at the bit to go up and continue to expose the value that we
believe and that our work thus far has led us to believe it exists.
At Santa Cecily, I've never felt better about a project than I do that
one. So you kind of have to balance, Michael, these two projects.
I mean, most companies, most geologists are happy to find one of
them in their lives. And obviously you've done multiple You've done it many times
before. But now you've got two potential monsters that you're sitting on. Yeah,
I mean, look, it's a fantastic position to be. And you
know, when we originally went to Chile, you know, we obviously all
know about the world the world's best coppera endowments in Chile, and we knew
this, and you know, I think by teaming with our Chilean team,
you know, Waldo Quadra and his team, we're just starting to realize the
potential of what Torque's got. I mean, tab two projects is exciting,
as you can imagine. Now, we just got to continue to advance them,
you know, and we've been doing a good job of that. You
know, We're we're now in a phase I think crucially where you know,
most of the pre you know, all the pre drilling targeting works really being
done at Santa Sicilia, so we're just able to go up there with the
drill. You know, news out of Santa Cecily will be drilled bit and
obviously you know there'll be plenty of drilling news coming out of Margarita in the
future as well. So we're extremely well positioned right now. And Sean has
the Treasury looking to finance the future drill programs. Well, you know,
Gary, that's the one thing that this disconnect provides a challenge for us.
As you know, we have a good track record of being able to raise
capital when we need it and on terms that are generally beneficial. That has
not been the case for about twelve to twenty four months here even longer for
that matter. And so what you we have about three point eight million dollars
in the bank today. We're going to have to raise additional capital. But
you know, as always, our team has always been to be you know,
since to dilution and the value proposition for existing shareholders and the people you're
bringing in. So you know, probably see us continue to do smaller financings
more frequently. It's not how I like to do it, it's not how
it is better for the business. If we could do big ones and then
do them less frequently because it's distracting and it takes resources to go and do
that. But that's that's the hand we're being dealt right now. It doesn't
we don't have a say in that matter, and therefore we're just going to
do the best job we can within that environment. And I think our strategy
has sound and then we'll be able to maintain the value proposition for shareholders,
and that's we're keenly focused on that, right Yeah, well, hey,
you got to you got to do what the market dictates. You don't have
a lot of freedom in that respect. But hey, I'm sure everybody investors
companies that have invested today couldn't be happier. Well, it could be worse.
We could be missing at the projects and then we'd be in a whole
other world or hurt, wouldn't Well, yeah, fortunately that's not an issue,
and I guess we can look forward to more good things in the not
too distant future. In any event, I suggest everybody go over to the
company's website, which is Torque Resources dot com and sign up for notifications,
because it sounds like the news cycle is about to pick up the ticker symbols
in the in Canada t S the ts X, it's t O r Q,
and of course in the US it's t R B m F. Gentlemen,
Michael Shawn, thanks for stopping by. Thanks Garry, our pleasure.
Thank you The Financial Survival Network