TCR Saint Jean Carbon, Inc.

Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR)
(FRANKFURT:WNF) (PINKSHEETS:TORVF) is pleased to announce that it has entered
into a Letter of Intent to purchase 100% of the Driftwood Magnesite Property
(the "Property") located in central British Columbia. The option covers three
years with cash payments totaling $60,000, 3 million shares of TCR, a work
commitment of $450,000 and a Royalty to the three owners totalling $3.00 per
tonne produced. Dr. Pfaffenberger, President of Torch says, "Driftwood fits well
with Torch's goal of finding properties with near term cash flow potential."


The Property has two main occurrences of high grade magnesite; the East Zone
which was drilled in 1989 by Canadian Occidental Petroleum Ltd and the West Zone
which was drilled in 2008. A series of reports are available on the ARIS system
of the Mineral Tenures Branch in British Columbia. Whole rock geochemical
analysis was obtained ranging from 88-97% magnesite (corresponding to 42-46.5%
MgO). 


An NI 43-101 compliant report does not exist for the Property, however four
diamond drill holes were placed on the East Zone in 1989, and seven on the West
Zone in 2008. Various estimates on the total size of the occurrence exist,
however none is NI 43-101 compliant. 


The goal of Torch River Resources is to concentrate on areas which have been
sampled with grades above 88% magnesite content. 


Torch will do whole rock assays on sampling from the seven holes drilled in
2008, (692 meters in total) and report these results along with plans for a
targeted trenching program in summer 2012. 


The geological model being used for this project is the Baymag high grade
magnesite deposit near Radium Hot Springs, B.C. Baymag has been highly
successful and in production since 1984. 


Interpretation of data for Torch River Resources was carried out by Andris
Kikauka, P. Geo., a Qualified Person with respect to National Instrument 43-101
who has also reviewed this release.

Grafico Azioni Saint Jean Carbon, Inc. (TSXV:TCR)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Saint Jean Carbon, Inc. (TSXV:TCR)
Storico
Da Giu 2023 a Giu 2024