TORCH RIVER RESOURCES
LTD.
FOR IMMEDIATE
RELEASE
August 27, 2007
RED BIRD MOLYBDENUM RESOURCE INCREASED BY
40%
Torch River Resources Ltd (?Torch?) (TSX:
TCR) is pleased to announce that it has received an updated NI 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 re-sampled data base used
in the 2005 resource estimate. A
total of 9 Mo assays were capped at 0.33 % Mo and 9 Cu assays were capped at
0.49% Cu. A geologic three
dimensional model was constructed from cross sections and 3 mineralized zones;
Main, Southwest and Southeast were formed.
Uniform 5 m down hole composites were produced for Mo and Cu within these
mineralized solids. Semivariograms
produced on 5 m composites showed a geometric anisotropy for both Mo and Cu
elongated in the E-W direction. A
block model with blocks 20 x 20 x 10 m 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 gives the
following (using a cut off grade of .03% Mo):
|
Indicated
Resource |
Inferred
Resource |
|
Tonnes
(millions) |
Mo
(%) |
Pounds
Mo
(million) |
Tonnes
(millions) |
Mo
(%) |
Pounds
Mo
(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% Mo cutoff has increased by 51% while the
contained molybdenum has increased by 40 %.
The full 2007 updated NI 43-101 report is
available for viewing on www.sedar.com and
Torch?s web- site at www.torchriver.ca
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 plans for this
year?s program are to drill approximately 9,000 feet in total. Core samples from the first hole drilled
to a depth of 1430 feet and also from the next three holes have been sent to our
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 this press release.
Torch is a company listed and trading on the TSX Venture Exchange,
symbol: TCR
Dr. William E. Pfaffenberger
President
Torch River Resources Ltd.
Telephone No. (403) 444-6888
torchriver@telus.net
FOR FURTHER INFORMATION
PLEASE CONTACT:
ProActive Communications
Co.
Local Vancouver: (604)
541-1995
Or toll free
(800) 540-1995
For all Torch River investor relations needs, investors are asked to
visit the Torch River IR Hub at http://www.agoracom.com/IR/Torchriver where they can post questions and receive answers
within the same day, or simply review questions and answers posted by other
investors. Alternatively, investors are able to e-mail all questions and correspondence to tcr@agoracom.com where they can also request addition to the
investor e-mail list to receive all future press releases and updates in real
time.
Beyond the Press Release
Dr. Bill Pfaffenberger, President and CEO will record a "Beyond The Press
Release" on the Company's official Investor Relations hub at http://www.agoracom.com/ir/torchriver where these results will be discussed in further detail. The recording is expected to be available on August
27th, 2007.
THE
TSX VENTURE EXCHANGE DOES NOT ACCEPT
RESPONSIBILITY
FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE