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The Race is On: Declining Production Pushes for New Gold and Copper Mines, Highlights the Value of Torr Metals Inc. (TSX.V: TMET)

  • With about 70% of the world’s known gold reserves mined, there is a growing urgency to discover and develop new gold and copper mines
  • Torr Metals searching is searching for the next big gold & copper deposit across its 1,100 km² of 100% owned highway-accessible projects located in some of Canada’s most prolific mining jurisdictions
  • Recent findings at the Kolos Copper-Gold Project defined a previously unknown trend to Cu-Au ± Mo mineralization with multiple potential undrilled porphyry centers stretching over 7 kilometers adjacent to Highway 5

Gold has been treasured for its beauty and value for thousands of years. The shine on gold might not be dimming, but its supply is. Declining production from existing mines and dwindling reserves are creating a pressing need for new virgin discoveries and development projects.

Several factors are contributing to the supply squeeze. Firstly, many existing gold mines are reaching the end of their productive lifespans. These mines were often opened decades ago, exploiting the most readily accessible and high-grade deposits. To that point, it is estimated that about 170,000 metric tons of the total 244,000 metric tons ever discovered have already been mined. Secondly, stricter environmental regulations and permitting processes can make it more challenging to open new mines, reinforcing the value of new discoveries within known mining districts where regulations are already well established.

Copper: A Look at Demand

Copper and gold mining frequently go together, and copper supply has been sluggish too. Data from the International Copper Study Group reveals a concerning trend: global mined copper output has stagnated at around 21.8 million tons in 2022. This represents minimal growth of only 1 million tons over the last three years.

Meanwhile, demand for both gold and copper show no signs of abating.  Gold’s status as a safe-haven asset during economic uncertainty continues to attract investors.  Copper, a critical component in renewable energy technologies and electronics, is experiencing surging demand due to the global push for clean energy.

Torr: The Future of Supply

This mismatch between declining production and rising demand highlights the need for a new wave of exploration discovery and mine development. Exploration companies are actively searching for new gold and copper deposits, with a focus on higher-grade resources to make extraction commercially viable. Governments are also starting to streamline permitting processes to balance environmental concerns with the need for responsible resource development.

The race is on to secure these valuable resources, Torr Metals (TSX.V: TMET) is on a mission to uncover the next major discovery with a focus on safe, highway-accessible mining districts where major mining companies, including Newmont and Teck, are actively operating or acquiring new copper and gold assets. With three underexplored district-scale copper and gold projects covering nearly 1,100 square kilometers Torr is well positioned for new discovery potential with 12 undrilled copper-gold porphyry and epithermal exploration targets, as well as expansion potential with one porphyry deposit adjacent to Highway 37.

The Trio

For instance, Torr’s 100% owned 689 km2 Latham Copper-Gold Project is located within the prolific Golden Triangle of northern British Columbia, Canada. The Golden Triangle is a mineral-rich region famous for gold, copper, and silver deposits.  It’s a hotbed for mining and acquisition activity with vast potential for future resource development.

The Latham Project contains the Gnat Pass copper-gold porphyry deposit where 102 drill holes from the 1960’s defined a non-compliant (prior to NI 43-101 and CIM standards for mineral resource estimation) indicated resource of 33 Mt @ 0.39% Cu (~284 million pounds of copper)(*) open to expansion. Select 2022 rock grab samples at Latham yielded up to 14.15 g/t Au (gold), 4.31% Cu (copper), and 63.1 g/t Ag (silver) from outcrop.

At their Kolos Project, located just north of Merritt, British Columbia, exciting new results are emerging from a maiden exploration program conducted in 2023.  Torr analyzed a massive area (48 square kilometers) with a first-ever regional sampling program, totaling over 3,300 soil samples. This analysis identified five large zones (each over a kilometer long) with high levels of copper (over 200 parts per million, some as high as 1,175 ppm). These zones are clustered together, suggesting potential for a substantial copper porphyry deposit. The 2023 exploration program has now defined a previously unknown trend to Cu-Au ± Mo mineralization stretching over 7 kilometers.

Thirdly, Torr’s Filion Gold Project covers 261 km2 in northern Ontario with multiple untested road-accessible gold exploration targets located just four kilometers north of the Trans-Canada Highway. Unparalleled access to infrastructure is also provided via railroad and a nearby power grid. Filion encompasses a largely unexplored Archean greenstone belt where the first-ever regional humus soil sampling program was conducted by Torr in 2023, with assays returning up to 1.32 g/t Au defining 6 footprints of highly anomalous (>20 ppb) gold. None of these anomalies have ever been drilled, with the largest measuring 1200m x 250m along-trend of historical rock grab and channel sampling that reported assays up to 91.4 g/t Au over 0.3 meters.

A Double Squeeze: Declining Gold and Copper Supply

While gold has held its allure for millennia, its future supply faces challenges. Existing mines are nearing depletion, while discovery rates for new deposits have dropped precipitously over the past 10 years in conjunction with increasing permitting timelines. This isn’t just a gold story – copper, crucial for clean energy, also faces stagnant production and a thinning pipeline of new deposits.

The answer lies in exploration of new highly prospective but underexplored ground. Companies like Torr Metals are utilizing significant technical expertise to focus on discovering potential new quality deposits in world-class districts that have significant local infrastructure, allowing for cost-effective year-round operations from discovery through to commercial production. This together with 100% ownership of 1,100 square kilometers of projects, each of which holds significant promise for copper-gold potential, also makes Torr a highly attractive potential partner for major miners who are looking for early-stage opportunities to grow their project pipeline. With a strong portfolio and the 2024 exploration season ramping up, Torr Metals is well-positioned to play a key role in securing these vital resources for the future.

  • (*) Based on total compliant reserves and resources as of December 31, 2021 (https://ibn.fm/Ds4wT). Ashbury, D.W. (1972): Ore reserves – Dease Lake Mines: personal communication sent by D.W. Ashbury to Dr. S.P. Ogryzlo dated April 28, 1972, 2p. *Information disclosed is not necessarily indicative of mineralization on the Latham Project.

For more information, visit the company’s website at www.TorrMetals.com.

NOTE TO INVESTORS: The latest news and updates relating to TMET are available in the company’s newsroom at https://ibn.fm/TMET

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