Torq Provides Santa Cecilia Project Update

The most recent news (February 27, 2026) confirms the commencement of the 2026 drill program at the Santa Cecilia project in Chile. This follows the October 2025 announcement that Gold Fields elected to proceed to Stage 2 of their earn-in option. The program is 100% funded by Gold Fields with a budget of USD $11 million. Drilling will target the Pircas Norte and Gemelos Norte areas, following up on previous intercepts such as 450m of 0.51 g/t gold and 0.155% copper. The company also noted a tragic employee fatality at the camp in November 2025, which may have impacted the timeline of the current program.

The impact is Routine - Positive. While the USD $11M funding is substantial for a company of Torq's size, this was already signaled in October 2025 when Gold Fields elected to proceed. The news confirms that the program is now active and the partnership remains intact despite a site fatality. - Financial Relief: The 100% funding by Gold Fields is critical. Torq’s balance sheet was in a state of "shareholders' equity deficiency" as of late 2024/early 2025. Without this earn-in, Torq would likely be unable to maintain the project. - Operational Continuity: Moving to Stage 2 validates the discovery potential at Gemelos Norte. However, the market has already priced in the Gold Fields partnership; the real material move will depend on the results of this $11M spend, not just the commencement of work.

Torq Resources is a junior explorer focused on the Maricunga belt in Chile. Its flagship is the Santa Cecilia project, located adjacent to the massive Caspiche deposit (Newmont/Barrick). The project shows evidence of a large-scale porphyry system. Torq also holds the small La Cototuda concession but has abandoned other projects to focus resources.