Mining Co. Confirms New Extensive Copper-Gold System at BC's Bertha Target

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1. Disclosure for the quote from the John Newell article published on October 6, 2025

1. For the quoted article (published on October 6, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
2. Author Certification and Compensation: John Newell of John Newell and Associates was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Torr Metals Inc. (TMET:TSX.V) reported results from its Phase I drilling program, which covered 2,733 meters at the Bertha Target within the company’s 332 km² Kolos Copper–Gold Project in south-central British Columbia, as stated in a release on January 21.

The program successfully verified the presence of a large, structurally-controlled hydrothermal copper-gold-silver system and crucially identified coherent geological and geophysical indicators pointing to a high-priority, untested copper–gold target to the northeast, the company stated.

Drilling uncovered broad zones of anomalous copper mineralization linked with hydrothermal magnetite, brecciation, and strong northwest-striking and north-south trending structural controls. These zones are bordered by 68 distinct native copper occurrences that locally define higher-grade intervals and are closely associated with hydrothermal magnetite–epidote veining, according to Torr. Collectively, these features define a laterally extensive hydrothermal-copper system extending over 350 meters in strike and 580 meters in vertical depth.

"The 2025 drill program achieved exactly what it was intended to as the inaugural test of a previously untested, large-scale porphyry system," said Torr President and Chief Executive Officer Malcolm Dorsey. "In systems of this type, it is uncommon for initial drilling to directly intersect the sulfide-bearing core, and our results align with expectations for early-stage porphyry exploration on a new target. The structural controls, system geometry, and style of supergene alteration and copper mineralization encountered so far support an alkalic porphyry model similar to an early-stage New Afton–style system before the discovery of its core."

He continued, "While drilling has not yet intersected the source intrusion, the program has confirmed significant scale to the peripheral hydrothermal copper system and established coherent vectors that all strengthen toward the northeast; including increasing alteration intensity and gold content, brecciation and veining, improved structural architecture, and a buried chargeability anomaly."

Taken together, these factors suggest increasing proximity to a more proximal and potentially sulfide-rich portion of the porphyry system relative to the areas drilled to date, he said.

"These results significantly reduce geological uncertainty and define a new, untested northeast-trending chargeability target, which will be further refined through planned IP expansion in spring 2026 prior to fully funded Phase II drill targeting," Dorsey noted.

Notably, the deepest hole drilled toward the northeast (25-KO-07) intersected the first structurally controlled gold mineralization reported from the Bertha area, yielding 0.24 grams per tonne gold (g/t Au) over 3 meters (337–340 meters). The presence of gold at depth, along with increasing pyrite content and supergene overprinting of phyllic alteration toward the northeast, suggests a coherent geochemical and mineralogical vector toward a more proximal, gold-bearing magmatic–hydrothermal porphyry source in that direction, the release noted. This area remains open and coincides with a broad, northeast-trending, untested induced polarization (IP) chargeability anomaly identified at approximately 250 meters depth.

Phase II Fully Funded

Torr announced its plans to extend the induced polarization (IP) survey to the northeast in 2026 to gain a better understanding of the geometry, depth, and intensity of the untested northeast-trending chargeability anomaly. The aim is to determine if the anomaly strengthens or exhibits greater vertical continuity towards the surface.

Follow-up drilling will concentrate on areas where increased chargeability coincides with magnetic anomalies, structural intersections, and the picrite contact, as these features are considered key indicators of a potential sulfide-bearing porphyry core with higher copper–gold potential, according to the company.

The extension of the IP survey will also allow Torr to evaluate the along-strike shift in the picrite contact, which appears to follow the northeast trend of the untested chargeability anomaly. This orientation is significant because a northeast trend is the primary structural orientation of the New Afton ore body. Its alignment with evolving chargeability, hydrothermal magnetite, and brecciation, identified through secondary porosity resistivity signatures, will be a primary focus of the follow-up drilling.

The northeastern-most drill hole (25-KO-06) encountered extensive hydrothermal brecciation from 14.0 to 80.17 meters, characterized by increasing alteration with dickite, chlorite, epidote, and carbonate, along with native copper, chalcocite, and magnetite, Torr reported. This alteration pattern, along with the rising pyrite content observed in Holes 25-KO-07 and 25-KO-08, suggests the presence of progressively hotter and more acidic hydrothermal fluids typical of the phyllic zone of a porphyry system. This provides a strong indication of a more proximal mineralizing source to the northeast, where a buried chargeability anomaly is believed to indicate a potential porphyry-style core at depth.

Torr stated it is fully funded to move forward with a Phase II drill program of up to 6,000 meters. This will include follow-up drilling on the newly identified northeast-trending structural and geophysical targets, as well as expanded IP targeting across the broader Bertha area to further evaluate the grade and scale potential of this hydrothermal copper system.

District Home to Some of the Nation's Largest Copper Mines

¹As copper exploration gains momentum in British Columbia's Quesnel Trough, Torr is positioning itself for a potential new discovery, according to Technical Analyst John Newell of John Newell & Associates on October 6, 2025. With several undrilled copper-gold porphyry centers, robust infrastructure, and an efficient share structure, the Kolos project is attracting attention as it begins its initial drill program, he noted.

The Quesnel Trough is "home to some of Canada's largest and longest-lived copper mines, including Highland Valley (Teck), New Afton (New Gold), and Copper Mountain (Hudbay)," Newell wrote.

Torr's projects offer "exposure to both copper and gold discovery opportunities across Canada, with Kolos leading the near-term news flow as the first drill program begins in Q4 2025," he added.

For investors looking for exposure to a new copper discovery narrative in one of Canada's safest and most productive mining regions, Newell considers Torr Metals a Speculative Buy at the price of CA$0.15 at the time of the report. The technical price targets are set at CA$0.24, CA$0.48, and a longer-term target between CA$0.60 and CA$0.65, contingent on a confirmed discovery-driven breakout, Newell said.

The Catalyst: A Series of Record Highs

Copper price spreads in London eased quickly after a notable spike on January 20, as analysts suggested that new metal deliveries might soon enter exchange warehouses to ease supply constraints, according to a Bloomberg report published on Mining.com on January 21.

Contracts maturing Thursday closed at a US$2 premium compared to those expiring a day later, following a brief surge in the one-day spread to a US$100 per ton premium on Tuesday, which remained elevated through most of the following morning's trading. Backwardation can result in significant losses for those trying to roll forward short positions and may prompt them to deliver metal into the LME’s warehousing network instead. Exchange data indicates that there are substantial volumes of privately held stock that could be moved into its warehouses across Asia, the U.S., and Europe. Analysts noted that the easing of the spreads suggests such inflows could be imminent.

Copper stockpiles tracked by the LME rose by 3.8% to 112,575 tons on Wednesday, marking the sixth consecutive day of growth.

"We've seen some deliveries already, and the fact is that there is probably more stock to be delivered against the backwardation," Al Munro, a senior base metals strategist at Marex, told Bloomberg. "People think that moving stock between exchanges is a simple process, but it can be laborious and sometimes shorts can face delays in delivering against their positions."

The fluctuations in LME spreads have had little impact on the outright prices for the metal, with the LME's benchmark three-month contract rising as much as 1.6% toward US$13,000 a ton on Wednesday. This movement occurred as global stock markets stabilized after a selloff on Tuesday, and Goldman Sachs Group Inc. indicated it expects continued metal flows into the U.S., a key factor driving its strong price rally.

The industrial commodity has reached a series of record highs since late last year as mines have struggled, and a surge in shipments to the US ahead of potential tariffs has tightened supplies elsewhere. Meanwhile, investors anticipate increased demand to support the growing artificial intelligence industry.

The global copper market was valued at US$241.88 billion in 2024 and is projected to grow to US$339.95 billion by 2030, with a compound annual growth rate (CAGR) of 6.5% from 2025 to 2030, according to Grand View Research. Copper is essential in solar panels, wind turbines, and related grid infrastructure, the research firm noted.

"Due to its electrical efficiency, it plays a central role in solar photovoltaic systems, wind turbines, electric grids, and energy storage systems," Grand View stated. "The global push for cleaner energy sources to meet climate targets has led to rising installations of renewable power capacity, all requiring significant amounts of copper. Moreover, as countries upgrade aging power grids and integrate smart grid technologies, the demand for copper-intensive transmission and distribution networks continues to climb."

Ownership and Share Structure²

About 12% of the company is owned by insiders and close associates. The rest is held by retail and high-net-worth investors.

Top shareholders include Torr Resources Corp. (owned by CEO Malcolm Dorsey) with 4.77%, John Williamson with 3.41%, Sean Richard William Mager with 0.78%, and CEO Malcolm Dorsey with 0.07%.

Torr has a market cap of CA$16.35 million and 83.82 million shares outstanding. It trades in a 52-week range between CA$0.10 and CA$0.27 per share.