Potential for Major Upside: Explorer Finds Copper Riches in BC

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* Disclosure for the quote from the Clive Maund article published on May 7, 2025

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The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Torr Metals Inc. (TMET:TSX.V) announced the results of a recently concluded induced polarization (IP) geophysical survey and rock grab sampling at the Bertha Zone target within its highway accessible 332-kilometer² Kolos Copper-Gold Project in south-central British Columbia.

At the historical Bertha exploration pit, selected rock grab samples expanded on a previously sampled location, revealing up to 16.9% copper (Cu) and 8.48 grams per tonne g/t silver (g/t Ag) from a series of parallel quartz-carbonate veins over a 30-meter strike length, the company reported in an August 13 release.

These findings confirm the high-grade nature of the historical exploration pit, which previously reported historical production of 30 tonnes averaging 2.14% Cu and 27.43 g/t Ag, Torr said. Furthermore, mineralization extends along a more than 450-meter west-southwest strike between the Bertha and Bertha South showings with no recorded drilling.

"The confirmation of high-grade copper at-surface and identification of a large 0.7 km2 IP geophysical anomaly at Bertha represent a major step forward in defining the untested potential of this area," said President and Chief Executive Officer Malcolm Dorsey. "The signature strength and dimensions are highly promising for targeting a midsize high-grade porphyry system perhaps similar to the New Afton system, with a broad moderate chargeability overlapping resistivity along the margins of a magnetic anomaly, together with nearby evidence of high-grade supergene copper mineralization."

Dorsey continued, "We now have the geochemical and geophysical data needed to plan drill targets in preparation for an inaugural drilling program at Bertha, the first to test this previously untouched target."

Details of Results

Significantly, the high-grade copper mineralization is located along the edges of a newly identified IP chargeability anomaly that exceeds 900 meters in strike length and over 500 meters in width, remaining open at depth, down-plunge, and to the east, Torr Metals said.

According to the company, some highlights of the results include:

• Broad, open-ended IP chargeability anomaly coincident with resistivity: The IP survey outlines a chargeability anomaly over 900 meters long and 500 meters wide, expanding to over 750 meters centrally where key north- and west-southwest-trending structures intersect. The chargeability appears tabular in cross-section and strengthens eastward, remaining open near-surface as well as down-dip and down-plunge over 600 meters vertical depth to the west-southwest, coinciding with a resistivity high interpreted as a potential intrusive source or secondary porosity.
• Evidence of strong structural preparation: All six rock grab samples from the Bertha Zone primarily consisted of chalcocite mineralization, each returning over 1% copper, with four samples exceeding 3% and the highest yielding 16.9% Cu. Hosted within the same fragmental volcanic unit (Late Triassic-Early Jurassic Nicola Group) as the historical Bertha exploration pit, these results suggest a broad supergene-style blanket where high-grade copper sulfides precipitated along pre-existing vein and fracture networks near the core of a porphyry system.
• Prime untested porphyry drill target identified: Southeast of the historical Bertha exploration pit, a large hydrothermal alteration footprint aligns with overlapping chargeability (10–20 mV/V) and resistivity (500–700 ohm-m) anomalies along the margins of a magnetic low, outlining a high-priority, untested target with strong potential for a significant alkalic porphyry discovery.

At the New Afton copper-gold alkalic porphyry deposit in south-central British Columbia, IP surveys have been instrumental in identifying copper sulfide mineralization and alteration at depth, the company noted.

Analyst: Co. 'Could Hardly Be Better Positioned'

Headquartered in Edmonton, Alberta, Torr Metals is exploring for new copper and gold discoveries in proven, highly accessible, Canadian mining districts populated by big names and in areas with existing infrastructure and a growing need for near-term feed, according to its Corporate Presentation.

*Torr Metals "could hardly be better positioned, as it has a diversified portfolio of high-potential copper and gold targets, and the fundamentals for both of these metals could scarcely be better, with copper facing a supply crunch and a tidal wave of demand for gold incoming, due to the ballooning crisis of the financial system," wrote Technical Analyst Clive Maund in a May 7 company report.

The Canadian explorer owns three copper-gold projects — Kolos, Filion, and Latham — spanning a combined 1,300 square kilometers.

"Torr's 100%-owned, district-scale assets are strategically located for cost-effective, year-round exploration and development," Maund noted.

These projects are situated in the Quesnel Terrane, Canada's most productive copper belt, renowned for its copper-gold porphyry deposits and various gold deposit types. Kolos is conveniently located near Teck Resources Ltd.'s (TECK:TSX; TECK:NYSE) Highland Valley and New Gold Inc.'s (NGD:TSX; NGD:NYSE.MKT) New Afton copper-gold porphyry deposit. New Gold recently acquired the remaining 19.9% of New Afton for US$300 million in April 2025. Bertha shares geological characteristics with the mid-tonnage, high-grade New Afton deposit, which was British Columbia's top gold-producing porphyry in 2015. Another neighbor to Kolos is HudBay Minerals Inc. (HBM:TSX; HBM:NYSE), with Copper Mountain, which Maund noted compares favorably to Kolos. He added that Kolos "finds itself in good company next to copper giants."

"There are a lot of targets at the Kolos project where significant grades have already been found," Maund said.

Fundamentals Have Strengthened

Maund gave Torr Metals a "Very Strong Buy" rating for all investment timeframes. He pointed out that the fundamentals have significantly strengthened since the beginning of the year. During this period, the company has steadily progressed toward its goals, while copper and gold prices have been on the rise.

Meanwhile, TMET has been forming the handle of a cup-and-handle base pattern, as seen on its six-month chart. The stock's behavior during this time suggests that now is an ideal moment to invest. The stock has corrected its previous overbought condition, thereby renewing its potential for upward movement. After a gradual uptrend beginning in December, the stock pulled back to a support level. The accumulation line increased, even as the price pulled back due to predominant upside volume; this divergence indicates a renewed advance. "The case for a major bull market in Torr Metals is overwhelming, on both fundamental and technical grounds," Maund wrote. "With the stock at an excellent entry point after its recent dip, the question may fairly be asked, 'What's not to like?'"

Maund identified the first target for a TMET upward move as CA$0.18–0.20 per share, suggesting a 64–82% return from the stock's price at both the August 4 market close and the time of his May report. The second target is CA$0.31–0.33, after which the share price is expected to rise to much higher levels.

A Literal Catalyst for the Electrical Revolution

From a technical perspective, copper is considered a Buy, according to Maund on August 1. He noted that copper has fallen back into a strong support zone where it is currently oversold.

"These tariff antics do not change the overall supply-demand situation for the red metal," Maund stated.

Regarding copper's fundamentals, supply is in a deficit, as reported by John Zadeh in a July 11 Discovery Alert article. Current supply is growing at 1–2%, but demand is increasing at 3–4%, he noted. "There aren't enough copper projects in the pipeline — not ones big enough to matter," Lobo Tiggre, CEO of IndependentSpeculator.com, told Investing News Network on July 24. "So, I'm extremely bullish on copper. All those reasons to be bullish on copper are still on the table in front of us."

Copper demand is rising faster than the industry anticipated, according to a July 31 Reuters article. Driving this demand are the billions of dollars being invested globally to modernize and expand power grids for the digital and clean energy transitions, which require massive amounts of electricity.

Other growth drivers, noted in Grand View Research's report on the copper market, include urbanization and infrastructural expansion, particularly in Asia Pacific and Latin America, and technological innovations in electronics, 5G infrastructure, and smart devices. The construction, electrical, and industrial sectors are creating the most demand.

The global copper market is expected to grow at a 6.5% compound annual growth rate between this year and 2030, according to Grand View. During this period, the market's value is projected to reach US$339.95 billion from US$241.88 billion in 2024.

Ownership and Share Structure

According to Torr, about 25% of the company is owned by management and close associates and about 9% by institutions. The rest is retail.

Top shareholders include Torr Resources Corp. (owned by Malcolm Dorsey) with 7.65%, Severin Holdings Inc. with 6.38%, John Williamson with 2.27%, Sean Richard William Mager with 1.24%, and Malcolm Dorsey with 0.09%, Refinitiv reported.

Torr has a market cap of CA$8.35 million and 52.26 million shares outstanding. It trades in a 52-week range between CA$0.08 and CA$0.18 per share.