CALGARY, ALBERTA--(Marketwire - Nov. 2, 2010) - Torch River ResourcesLtd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF)(PINK SHEETS:TORVF) is pleased to announce geochemical analysis resultsidentifying molybdenum (Mo), REE (La, Ce, Pr, Nd, Pm, Sm, Eu, Gd, Tb,Dy, Ho, Er, Tm, Yb, Lu), yttrium (Y), zirconium (Zr), and niobium (Nb)bearing mineralization on its 100% owned Mount Copeland mineral tenurescomprising 1318 hectares and located 25 km northwest of Revelstoke, BC.Copeland Mo property history includes underground excavation (1970-73)that produced 169,729 tonnes and recovered 2,625,046 pounds (1,190,713kilograms) of molybdenum. When the Copeland Mine went into productionin 1970, development work, diamond drilling, mapping, & samplingindicated there was 163,340 tonnes @ 1.09% Mo.
REE's are presently in short supply, and their values are high andincreasing. Their uses are varied but essential in manufacturingactivities such as: electronics, batteries, high tech uses, strongmagnets, TV screens and microwave transmission.
Fieldwork carried out by the Corporation in 2010 consisted of 34 rockchip, and 72 soil samples taken in a 1,200 X 500 m area centred on theold underground workings. Soil and rock chip samples were analyzed bylithium borate fusion with ICP-MS finish, and Mo assay (Pioneer Labs,Richmond, BC certificate 2102718). A total of 8 select rock chipsamples were re-analyzed by lithium borate fusion with ICP-MS finishME-MS61 (ALS Chemex Labs, N Vancouver, BC certificate VA10144345). Acompilation of geochemical analysis (and assays for Mo), is listed asfollows:
Mean average values for elements listed, from 72 soil samples geochemically analyzed:
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Ce Dy Er La Nd Pr Sm U Y Nb Ti
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519.0 19.0 11.0 389.6 170.5 60.0 29.0 21.5 104.7 323.3 0.98
ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm %
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Anomalous REE values in soil samples are widespread. The areas thathave the highest concentrations of REE values in soil include MarbleBreccia Ridge and the East Glacier Zones. The Marble Breccia Ridge Zonecontains 4 positive total field anomalies identified by a magnetometersurvey carried out in 2008. These positive total field magneticanomalies (moderate strength 200-500 nT increase, strong greater than500 nT increase) are listed as follows:
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Easting Northing Elevation Relative strength Zone Name
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397350 5665500 2320 m Moderate West Basin
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397500 5665350 2340 m Strong Marble Bx Ridge
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397550 5665350 2335 m Moderate Marble Bx Ridge
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397650 5665300 2340 m Strong Marble Bx Ridge
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397600 5665250 2410 m Moderate Marble Bx Ridge
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397690 5665250 2395 m Moderate W Glacier
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The magnetometer survey strong anomalies are located in an area ofmarble with extensive zones of pyrrhotite and/or magnetite/ilmenitereplacement mineralization which coincides with elevated REEgeochemical analysis of rock chips 10AR-22 to 28 from Marble BrecciaRidge.
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rock no % Mo ppm Ce ppm La ppm Nd ppm Pr ppm Sm
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10AR-1 0.63 165.2 79.7 49 15.1 7.1
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10AR-2 0.49 132.1 44.3 36.2 12 4.1
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10AR-3 0.95 1855 1105 531.2 165.5 47.4
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10AR-4 1.33 297.8 187.3 80.3 26.6 10.4
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10AR-5 0.56 142.9 79.7 45.1 14.2 6.7
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10AR-9 0.77 103.3 51.8 36.2 10.7 6.2
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10AR-10 1.2 116.3 66 33.5 11.2 4.7
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10AR-11 0.1 396.1 170.1 128.8 39.8 23.1
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10AR-12 0.01 1110 638 241 92.6 23.2
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10AR-14 0.19 35.5 20.1 11.3 3.5 1.7
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10AR-15 0.21 96.3 47.4 39.4 10.7 6.3
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10AR-19 0.01 754 742.5 175.5 61.2 22
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10AR-20 greater greater greater greater greater
than than than than than
0.01 10000 10000 10000 1000 1000
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10AR-22 greater greater greater
than than than
0.01 10000 10000 2550 1000 209.6
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10AR-23 0.01 1270 1205 176.3 87.1 23.1
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10AR-24 0.21 183 164.1 37.4 13.3 4.6
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10AR-25 0.01 593 722.3 99.9 43.3 13.7
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10AR-26 0.22 1440 1520 166.8 89.2 24.6
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10AR-27 0.92 23.5 15 7.5 2.3 1.3
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10AR-28 0.43 191.4 129.7 45.8 15.8 6.7
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10AR-30 3.4 175.1 99.4 70 20.6 12.6
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rock no ppm Y ppm Dy ppm Nb % Ti Ppm Zr
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10AR-1 31.3 5.7 94.9 0.058 4
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10AR-2 8.2 1.8 74.2 0.094 3
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10AR-3 113 24.5 3760 0.966 979
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10AR-4 greater
than
39.1 7.5 1000 2.587 19
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10AR-5 greater
than
18.6 4 1000 1.396 11
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10AR-9 32.3 5.4 641.9 0.771 5
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10AR-10 11.7 2.2 43.9 0.037 16
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10AR-11 101.1 18.5 84.2 0.287 5
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10AR-12 66.1 12.1 255 0.287 638
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10AR-14 4.1 0.8 18.2 0.055 1
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10AR-15 19.5 3.9 23.8 0.117 8
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10AR-19 76.5 11.8 236 1.466 1865
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10AR-20 623.8 284.1 527.4 2.928 6190
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10AR-22 414.8 80.1 31.4 0.277 136
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10AR-23 103.8 16.7 73.5 0.361 484
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10AR-24 23.2 3.7 22.1 0.171 6
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10AR-25 106.9 17.2 147.1 0.566 219
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10AR-26 152.4 20.6 35.3 0.254 95
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10AR-27 3.4 0.7 32.1 0.227 6
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10AR-28 25.3 4.4 89.6 0.486 12
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10AR-30 38.5 8.5 126.8 0.06 7
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rock no width elev strike dip zone name
cm m
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10AR-1 100 2056 100 45 S Glacier Mine
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10AR-2 120 2053 105 48 S Glacier Mine
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10AR-3 60 2046 100 45 S Glacier Mine
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10AR-4 100 2076 103 47 S Glacier Mine
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10AR-5 100 2079 100 39 S East ext, Glacier
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10AR-9 200 2059 114 52 S East ext, Glacier
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10AR-10 100 2055 112 50 S East ext, Glacier
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10AR-11 52 2032 115 51 S East ext, Glacier
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10AR-12 float 1980 Sub-portal
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10AR-14 200 1939 140 62 SW J-5
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10AR-15 20 1977 135 20 S Sub-portal
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10AR-20 18 2270 110 48 S Glacier East
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10AR-22 70 2170 101 30 S West Marble Ridge
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10AR-23 180 2169 100 30 S West Marble Ridge
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10AR-24 280 2181 100 50 S West Marble Ridge
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10AR-25 25 2204 100 34 S West Marble Ridge
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10AR-26 30 2218 100 34 S West Marble Ridge
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10AR-27 25 2212 115 62 S West Marble Ridge
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10AR-28 22 2203 105 63 S West Basin
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10AR-30 float 2171 float West Basin
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rock no comments
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10AR-1 K-spar, kaol, chlorite, trace pyo
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10AR-2 K-spar, kaol, chlorite, trace pyo
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10AR-3 K-spar, kaol, chlorite, trace pyo
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10AR-4 450 cm wide peg-aplite zone
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10AR-5 K-spar, chlorite
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10AR-9 K-spar, kaol, chlorite, trace pyo
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10AR-10 K-spar, kaol, chlorite, trace pyo
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10AR-11 K-spar, kaol, chlorite, trace pyo
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10AR-12 angular float, 1% magnetite
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10AR-14 increased limonite-chlorite with Mos2
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10AR-15 3 m north is open cut
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10AR-20 red-yellow-brown gossan in cliff
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10AR-22 350 cm wide py-pyo-ank skarn band
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10AR-23 275 cm wide py-pyo-ank skarn band
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10AR-24 limonitic aplite-carbonate breccia contact
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10AR-25 limonitic aplite-carbonate breccia contact
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10AR-26 limonitic aplite-carbonate breccia contact
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10AR-27 limonitic aplite-carbonate breccia contact
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10AR-28 K-spar, kaol, chlorite, trace pyo
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10AR-30 K-spar, kaol, chlorite, trace pyo
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Note- 4 samples (AR-4, 5, 20, & 22) have above detection limitanalysis and are currently being re-analyzed (using higher standards)at Pioneer Labs and ALS Chemex Labs.
A second area of REE bearing mineralization occurs in the East GlacierZone (e.g. rock chip sample COPE10AR-20). The East Glacier and MarbleBx Ridge Zones are about 500 meters apart, but they occur on the samestratigraphic horizon and may be part of an extensive REE bearingmineral zone that trends under the glacier. In addition to REE bearingmineralization, a zone of elevated molybdenum and coincident niobiumoccurs in the east extension of the Copeland underground workings. Thisarea has been targeted for possible extensions of Mo bearingmineralization, but this zone appears to have elevated Mo-Nb-Ti (e.g.rock chip sample COPE10AR-4 & 5). Also, directly adjacent to theunderground workings there is a rock chip sample that contains elevatedMo-REE-Nb-Ti (rock chip sample COPE10AR-3).
The geological setting for the Copeland molybdenite-REE occurrence iswithin concordant bodies of nepheline syenite gneiss that occuradjacent to the calc-silicate gneiss and marble unit. The syenite haslocally developed an augen texture with large porphyryblasts ofK-feldspar in a fine-grained groundmass. Calc-silicate assemblagescontain diopside, garnet and actinolite. Carbonates and carbonatitesare re-crystallized to medium and locally coarse-grained granoblasticmarbles. Lithologies present are summarized as follows:
PROTEROZOIC (PRE-CAMBRIAN)
Syenite Aplite/Syenite Pegmatite: K-feldpsar, kaolinite, sericite,calcite, biotite, fluorite, garnet, sphene, specularite, pyrrhotite,pyrite, molybdenite, ilmenite, chalcopyrite, scheelite, tourmaline,apatite, riebeckite, poikilitic aegirine, zircon, zeolite, cancrinite,and analcite
Hangingwall Syenite Gneiss, Nepheline Syenite: K-feldspar, green/brownphlogopite, calcite, chlorite, accessory apatite, zircon, sphene,tourmaline, sphene, apatite, riebeckite, poikilitic aegirine, zircon,fluorite, zeolite, cancrinite and analcite
Biotite-Amphibole Marble: weathered and deeply pitted appearance,biotite, hornblende, chlorite, marble (granoblastic), actinolite,diopside
Black Biotite Amphibole Gneiss: biotite, hornblende, chlorite, oligoclase, magnetite
Quartzite Gneiss:feldspar, granular, interbedded marble bands, actinolite & diopside
The biotite-amphibole marble unit has extremely high soda and potashcontent, and this is likely attributed to fenitization, caused byperalkaline fluids. These fluids are thought to complex and transportREE, associated with minerals such as apatite, zircon, pyrochlore,allanite, monazite and bastnaesite.
Management is encouraged by results of rock and soil samples containingelevated REE on Mt Copeland and has sent for re-assay those samplesover 1% (10,000 ppm). The company will continue to focus on explorationand development targeting REE's, Nb, Y, Zr, Ti, and Mo bearing mineralzones. Soil/rock chip sampling and interpretation of data for TorchRiver Resources was carried out under the supervision of AndrisKikauka, P. Geo., and a Qualified Person with respect to NationalInstrument 43-101.
Forward Looking Information
This press release may contain forward-looking statements which mayinclude estimates, plans, expectations, opinions, forecasts,projections, guidance or other statements that are not statements offact, including without limiting the generality of the foregoing,statements made regarding the Omineca Property. Although Torch believesthat the expectations reflected in such forward-looking statements arereasonable, it cannot give any assurance that such expectations willprove to be correct. Results of Torch including its ability to mobilizeand drill on schedule may be affected by a variety of variables andrisks associated with the mining industry such as availability of humanand capital resources, competition, exploration and development plansand results, anticipated capital expenditures and financing thereof,timing of applications and approvals. As such the future plans andobjectives of Torch are forward-looking statements that involve risksand uncertainties and may be based on assumptions that could causeactual results to differ materially from those anticipated or impliedin such statements. Torch's forward-looking statements are expresslyqualified in their entirety by this cautionary statement. Unlessotherwise required by applicable securities laws, Torch does not intendnor does it undertake any obligation to update or review anyforward-looking statements to reflect subsequent information , events,results or circumstances or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.