Torch Receives Compilation Report on Rare Earths at Mt. Copeland
CALGARY, ALBERTA, Jan 4, 2011 (Marketwire via COMTEX News Network) --
Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce receipt of a compilation report on the geochemical, geological and petrographic analysis of results for 2010 on its 100% owned Mount Copeland mineral tenures comprising 1,703 hectares and located 25 km northwest of Revelstoke, BC. The Mt. Copeland property history includes underground excavation (1970-73) that produced 169,729 tonnes and recovered 2,625,046 pounds (1,190,713 kilograms) of molybdenum (Mo). When the Copeland Mine went into production in 1970, development work, diamond drilling, mapping, & sampling indicated there were 163,340 tonnes @ 1.09% Mo.
REE's are presently in short supply, and their values are high and increasing. Their uses are varied; however, they are essential in manufacturing activities such as: electronics, batteries, high tech uses, strong magnets, TV screens and microwave transmission.
The report entitled "Mt. Copeland Project-Geochemical and Petrology Report" has been filed with the British Columbia Mineral Tenure Branch in compliance with the filing of work on Mt. Copeland for the 2010 year.
This new compilation report and a power point presentation can be found at www.torchriver.ca
Management is very encouraged by results of rock and soil samples containing elevated REE's on Mt Copeland where total REEs on AR20 were 26.13% and AR22 were 4.13% (the approximate oxide percentages would be 30.5% and 4.8% respectively). The company is planning a drilling and trenching program which will focus on exploration and development targeting REE's, Nb, Y, Zr, Ti, and Mo bearing mineral zones. Soil/rock chip sampling and interpretation of data for Torch River Resources was carried out under the supervision of Andris Kikauka, P. Geo., a Qualified Person with respect to National Instrument 43-101 and who has also reviewed this release.
Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the Omineca Property. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.
SOURCE: Torch River Resources Ltd.
Torch River Resources Ltd. William E. Pfaffenberger President and Chief Executive Officer (403) 444-6888 www.torchriver.ca ProActive Communications Co. Local Vancouver: (604) 541-1995 Or toll free: (800) 540-1995
