- Central banks bought 290 metric tons of gold during Q1 2024, while copper prices continue to climb as part of the green energy transition
- Torr Metals has three highly prospective Canadian gold and copper projects including Kolos, a major intrusive complex considered the last remaining to be tested in the southern Quesnel Trough with similarities to the Copper Mountain porphyry deposit; and Filion, an underexplored gold-bearing greenstone belt adjacent to the Trans-Canada Highway in northern Ontario
- TMET insiders are holding tight, controlling about 40% of the company’s outstanding shares as the stock enters a new uptrend
The global market is experiencing a surge in demand for two key commodities: gold and copper. This trend presents a significant opportunity for Torr Metals (TSX.V: TMET), a mineral exploration company focused on developing its highly prospective district-scale gold and copper projects; where significant potential exists for major new discoveries located in highway-accessible, prolific mining jurisdictions of British Columbia and Ontario, Canada.
Gold: A Haven in Times of Uncertainty
Geopolitical tensions and lingering inflation are driving investors towards safe-haven assets like gold. Prices are near all-time highs, and central banks are increasingly adding gold to their reserves, highlighting its enduring appeal during market volatility.
In 2023, gold demand from central banks equaled 1,037.4 metric tons, narrowly below the record 1,081.9 metric tons set in 2022, according to data from the World Gold Council. There wasn’t a letdown in the first quarter of 2024, with 290 metric tons bought by central banks.
Copper: Fueling the Green Energy Transition
Copper, widely recognized as a barometer of economic trends, is experiencing a price increase due to strong global economic activity and surging demand from green energy technologies like electric vehicles and renewable energy.
Copper is a key component in everything from wind turbines and solar panels to EVs and EV charging stations, making it a vital part of the clean energy infrastructure. With supply struggling to keep pace with this exploding demand, copper prices are expected to climb even higher.
According to research commissioned by the Intentional Copper Association, copper demand is forecast to grow 1.85% annually from 28.3 million tonnes in 2020 to 40.9 million tonnes in 2040.
The simultaneous surge in demand for gold and copper is a fortunate coincidence for miners. While exploring for gold, they often discover copper deposits as well, allowing them to capitalize on the booming market for both metals.
A Strategic Investment
Torr Metals sits at the heart of this booming market. The company is focused on defining and developing the substantial exploration potential of the 140-square-kilometer Kolos Copper-Gold Project, located within the prolific Quesnel Terrane in Central British Columbia. Year-round access is provided by Highway 5, with the project being favorably located 23 kilometers north of the city of Merritt and 286 kilometers by highway from Vancouver. This region is particularly exciting as it is regarded as the last major remaining untested intrusive complex with a comparable geological setting to the Copper Mountain Cu-Au porphyry deposit, located 106 kilometers to the south.
Copper Mountain is legendary for its copper mining that has been going on for 75 years. Last year, Hudbay Minerals (TSX: HBM) (NYSE: HBM) paid $439 million to buy Copper Mountain Mining Corp. to boost its copper portfolio.
Historical samples from Kolos have yielded values of up to 4.24 g/t Au, 0.52% Cu, and 11.3 g/t Ag within a 7-kilometer trend of multiple untested >200 ppm Cu soil anomalies. Results are eagerly anticipated from rock samples after a ZTEM survey confirmed five significant coincident geophysical anomalies typically associated with robust hydrothermal alteration and mineralization, suggestive of deep-rooted porphyry centers, extending up to 1.5 kilometers depth.
Also in BC, Torr has its 689-square-kilometer Latham Cu-Au Project in the vaunted Golden Triangle region. Here, select 2022 rock grab samples yielded up to 14.15 g/t Au, 4.31% Cu, and 63.1 g/t silver (“Ag”) from outcrop on untested exploration targets in addition to the Gnat Pass Cu-Au porphyry deposit that remains open to expansion beyond 200 meters depth.
That is not to discount Torr’s Filion gold project in Ontario where management has already identified at least six untested exploration targets as high priority, with road-accessibility 4 kilometers north of the Trans-Canada Highway 11. Historical rock grab sampling recorded up to 9.1 g/t gold (“Au”) with channel sampling reaching 91.4 g/t Au over 0.3m, showcasing high-grade potential within a larger multi-kilometer footprint of anomalous gold in soil (up to 1.32 g/t Au) defined by the company in early 2024.
Skin in the Game
Against this backdrop, it should not come as a huge surprise that insiders are holding tight to shares of TMET. Management and associates own about 40 percent of the 35.9 million outstanding shares. They’re being rewarded as evidenced by shares of TMET going into an uptrend recently, rising from an April low of CDN$0.045 to as high as CDN$0.19 on May 15.
The bottom line here is that in the face of declining production and exhausted historical plays, new district-scale greenfield discoveries – such as those TMET is pursuing – are crucial for rejuvenating the mining industry.
The bullish outlook for gold and copper presents an exciting opportunity for investors seeking exposure to these essential commodities. For Torr Metals, this market trend translates to a strategic advantage. By successfully developing any or all its projects, Torr Metals intends to become a new significant player in this growing market while contributing to a sustainable energy future.
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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