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Torq Announces That Gold Fields Has Elected to Proceed to Stage 2 of Santa Cecilia Project Option USD$11 Million Drilling Program to Start at Santa Cecilia
VANCOUVER, BC / ACCESS Newswire / October 20, 2025 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:T...
About this update from Torq Resources Inc.
[{"type":"text","content":"Torq Announces That Gold Fields Has Elected to Proceed to Stage 2 of Santa Cecilia Project Option USD$11 Million Drilling Program to Start at Santa CeciliaVANCOUVER, BC / ACCESS Newswire / October 20, 2025 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) (\"Torq\" or the \"Company\") is pleased to announce that an affiliate of Gold Fields Limited has advised that it will be proceeding with the second stage of its USD$48 million earn-in option for Torq's Santa Cecilia project. The anticipated spend for this portion will be approximately USD$11 million and will cover all project costs with the bulk of it dedicated to diamond drilling at Santa Cecilia as well as USD$1 million property payment. Work is expected to commence in early to mid-November and will utilize two drill rigs. Preparations are underway and with the weather cooperating the company expects to be able to maintain this timeline. Details of the program will be released closer to the commencement of the planned work.Shawn Wallace, CEO of Torq, commented: \"We are looking forward to resuming drilling at Santa Cecilia where we have enjoyed the discovery of long intercepts of continuous gold and copper mineralization at three separate targets with grades increasing with each phase of drilling (see Torq news release dated 25-08-20). We have only drilled 11 holes, and are excited about the follow-up drilling of these holes which being designed to vector towards the mineralizing intrusion as well as testing additional targets.\" The election by Gold Fields to continue is USD $48 million earn-in option to earn-in ensures this work is adequately financed and importantly, it will fund the next property payment due this month.\"Bryan Atkinson, P Geo. a consultant to Torq, is the qualified person who has reviewed the technical contents of this news release.ON BEHALF OF THE BOARD,Shawn WallaceCEO & ChairFor further information on Torq Resources, please visit www.torqresources.com or contact the company at (778) 729-0500 or [email protected] Torq ResourcesTorq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior s...