Torch River Res. A0MMBA

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Torch River Resources Ltd  
 Symbol   TCR  
 Shares Issued   39,555,723  
 Close 2007-07-03   C$ 0.48    
 Recent Sedar Documents
 

Torch River buys six Grouse Mountain claims for $33,060


2007-07-04 09:39 ET - News Release

Dr. William Pfaffenberger reports

TORCH RIVER RESOURCES LTD PURCHASES NEW SILVER CLAIMS

Torch River Resources Ltd. has entered into an agreement with Dr. William Pfaffenberger to purchase six mineral claims covering a total of 1,574.5054 hectares at Grouse Mountain, British Columbia.


Tenure No.       Hectares

553757           112.4884
553762           468.7057
553764           187.4284
553767           131.2432
557529           318.5608
557530           356.0789


Torch will pay $33,060 in cash for the Grouse Mountain claims. The agreement is subject to regulatory approval and assuming such approval is provided, is expected to close on or about July 25, 2007. Dr. Pfaffenberger is a director and officer of Torch and holds directly or indirectly approximately 2.4 per cent of the issued and outstanding shares of Torch. Accordingly, the purchase of the Grouse Mountain claims is a related-party transaction. As the fair market value represents less than 25 per cent of the market capitalization of Torch, the corporation will rely on the exemptions available under OSC Policy 61-501 as adopted by Policy 5.9 of the TSX Venture Exchange in regard to the requirements for valuation of the Grouse Mountain claims and minority shareholder approval of the agreement. The agreement was approved by an independent committee of the board of directors of Torch. The purchase price paid Torch for the Grouse Mountain claims is equal to the purchase price paid by Dr. Pfaffenberger for the same. The transaction will not result in the issue of any Torch shares to Dr. Pfaffenberger.

Torch has the Red Bird property which contains molybdenum and rhenium. Torch also has the High Rock property which has gold mineralization.

It is Torch's objective to carry out a program of geophysics and sampling to investigate the potential of the new property. Further to the company's news in Stockwatch on June 7, 2007, Torch has mobilized its camp at its Red Bird property.

Torch has contracted with Neill's Mining Ltd. to drill up to eight holes (approximately 7,000 feet) in an area of the property which had no previous drilling. This area lies in the northwest region of the 4,000-foot-by-5,000-foot Red Bird intrusion and was identified as a prime target for drilling by the soil and chip sampling and ground geophysics carried out in Torch's 2006 program on Red Bird (see Aug. 15, 2006, news in Stockwatch).

Torch is expecting that the drill on Red Bird will be mobilized by July 8, with drilling continuing at least to the end of August.

Andris Kikauka is a qualified person under NI 43-101 and has reviewed and approved the technical data in this press release.

 

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Torch River plans 9 Red Bird holes


2007-07-10 10:29 ET - News Release

Dr. William Pfaffenberger reports

TORCH RIVER EXPANDS DRILL PROGRAM AT RED BIRD

Torch River Resources Ltd.'s geologist has confirmed that the drilling equipment from Neill's Mining has been mobilized to the first drill location on its Red Bird molybdenum/rhenium property. Torch River also announces that it has increased its drill program to nine diamond drill holes totalling up to 10,200 feet, a 45-per-cent increase over the plans previously reported.


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Torch River's Red Bird Mo resource increases by 40%


2007-08-27 09:58 ET - News Release

Dr. William Pfaffenberger reports

TORCH RIVER RESOURCES LTD.: RED BIRD MOLYBDENUM RESOURCE INCREASED BY 40%

Torch River Resources Ltd. has received an updated National Instrument 43-101 report on its Red Bird property from Giroux Consultants Ltd.

The updated report includes the drill results from Torch's 2006 drill program on the Red Bird property.

A further update will be done to include Torch's 2007 drill program once the results of that program have been received and analyzed. However, none of the 2007 program is covered in this present update.

The 2006 drill assays were combined with the historic and resampled database used in the 2005 resource estimate. A total of nine Mo assays were capped at 0.33 per cent Mo and nine Cu assays were capped at 0.49 per cent Cu. A geologic three-dimensional model was constructed from cross-sections and three mineralized zones -- Main, Southwest and Southeast -- were formed. Uniform five-metre down-hole composites were produced for Mo and Cu within these mineralized solids. Semivariograms, produced on five-metre composites, showed a geometric anisotropy for both Mo and Cu elongated in the east-west direction. A block model, with blocks 20 metres by 20 metres by 10 metres, was superimposed on the mineralized zones and Mo and Cu were interpolated into the blocks using ordinary kriging.

The previous NI 43-101 report on Red Bird was completed in the spring of 2006 and a comparison with the new update is contained herein (using a cut-off grade of 0.03 per cent Mo).


                          Indicated resource            Inferred resource

                   Tonnes     Mo   Pounds Mo     Tonnes     Mo   Pounds Mo
                (millions)    (%)   (million) (millions)    (%)   (million)

2006 resource                                       75.3   0.065      107.9
2007 resource         43.3   0.064       61.2       70.5   0.058       90.1


Torch is also pleased that this 2007 report has reclassified 43.3 million tonnes of the above total resource to the indicated category, where in 2006 all the resource was reported as inferred. The total tonnage of the resource at a 0.03-per-cent-Mo cut-off has increased by 51 per cent, while the contained molybdenum has increased by 40 per cent.

The full 2007 updated NI 43-101 report is available for viewing on SEDAR and on Torch's website.

Torch has been informed by its geologist that the drilling operation at its Red Bird molybdenum/copper property is presently drilling its ninth hole in a 10-hole drill program. Torch's plan for this year's program is to drill approximately 9,000 feet in total. Core samples from the first hole, drilled to a depth of 1,430 feet, and also from the next three holes have been sent to the company's assayer and results will be released once they are received.

Gary Giroux is a qualified person under NI 43-101 and has reviewed and approved the technical data in t
 

Torch River Resources Ltd. (TSX VENTURE:TCR)(FRANKFURT:WNF)(PINKSHEETS:TORVF) ("Torch" or the "Corporation") is pleased to announce that it has closed a private placement financing resulting in aggregate gross proceeds of $75,000. The private placement consisted of a $75,000 principal amount 5% convertible unsecured redeemable debenture (the "Debenture"). The Debenture matures on December 31, 2013 but may, at the option of the Corporation, be extended for 20 months thereafter provided that, if extended, an additional amount of $18,750 shall become due and owing at maturity in addition to the principal amount of the Debenture plus accrued interest.

Interest on the Debenture is payable semi-annually and the Debenture may be converted, in whole or in part, at any time prior to maturity or redemption into units at a price of $0.075 per unit for one year from the date of issue of the Debenture and $0.10 per unit thereafter. Each unit will consist of one common share of the Corporation and one common share purchase warrant to acquire one additional common share of the Corporation at an exercise price of $0.10 per share at any time within two years of the date of issue of the Debenture. The Debenture will be subject to a hold period of four months and one day pursuant to applicable securities laws.

A finder's fee in the amount of $6,000 together with finder's warrants exercisable to acquire 80,000 common shares of the Corporation at an exercise price of $0.10 per share within two years of the closing of the private placement was paid to an arm's length third party of the Corporation that raised the gross proceeds.

The Corporation intends to use the proceeds of the private placement as working capital to fund the continued development of the Corporation's business.

http://www.marketwire.com/press-release/...sx-venture-tcr-1826120.htm