on Torq Resources Inc. (CVE:TORQ)
Gold Fields Advances to Stage 2 in Torq's Santa Cecilia Project
Torq Resources Inc. has announced that Gold Fields Limited will move forward with Stage 2 of its USD $48 million option for the Santa Cecilia project. The next phase entails around USD $11 million, primarily allocated to diamond drilling at the site and a $1 million property payment. The drilling is set to begin in early to mid-November using two rigs. The company is confident about meeting the timeline, contingent on favorable weather conditions.
CEO Shawn Wallace expressed optimism, noting significant previous discoveries at Santa Cecilia, comprising long intercepts of gold and copper mineralization. Gold Fields' continued commitment ensures adequate financing and facilitates the subsequent property payment. The detailed drill plan will be released before commencing the project work.
R. E.
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