Record Copper and AI Demand Put Torr Metals' Kolos Assays in the Spotlight

Source: Streetwise Reports 10/15/2026

With AI pushing copper demand and recent prices near records, Torr Metals Inc. (TMET:TSX.V) is drilling toward what it believes is the source of a large copper-gold system in southern British Columbia. Find out why one technical analyst sees a breakout brewing.Key Investor Takeaways

• Copper is trading near record highs, and S&P Global expects demand from AI, data centers, and defense to help drive a 10 million metric ton supply shortfall by 2040.
• Torr Metals expects its first Phase 2 assays from the Bertha North target at its Kolos copper-gold project in British Columbia soon.
• About 3,500 meters of a fully funded program of up to 6,000 meters is complete. The next holes will test farther south toward a deep resistivity anomaly that Torr interprets as a possible intrusive source.
• Hole 26-KO-04 intersected a magnetite-bearing intrusive dike with chalcopyrite at about 460.5 meters, Torr’s closest drilling yet to the interpreted source.
• Kolos covers about 332 square kilometers near Teck’s Highland Valley Copper mine and New Gold’s New Afton mine. It also includes the permitted Lodi-Kirby and Kova targets and the undrilled Sonic Zone.
• Torr also holds the Filion gold project in Ontario, where historical trenching returned 13.1 grams per tonne gold.
• Technical analyst Stewart Thomson rated Torr a Speculative Buy in August, citing early signs of a porphyry core at Bertha North.¹

Copper’s Supply Problem Keeps Prices High

Copper is trading near record highs. Benchmark three-month copper on the London Metal Exchange rose to US$14,618.50 a tonne on October 12, a two-week high, after a landslide at Codelco’s El Teniente mine in Chile killed two workers and forced a partial production halt, Mitrade reported. El Teniente is one of the world’s largest underground copper mines.

Copper set records on both major exchanges in September. Benchmark LME copper hit an all-time high of US$14,875 a tonne on September 10, and Comex copper reached a record US$6.83 per pound, or about US$15,057 a tonne, on September 22. LME prices were up 18% for the year as of late September.

New supply is slow to arrive. Copper mines that began production between 2020 and 2023 took an average of 17.9 years to go from discovery to production, up from 12.7 years for mines that started in 2005 to 2009, according to S&P Global.

The AI Boom Runs on Copper

Artificial intelligence is adding to the pressure. In its January study Copper in the Age of AI, S&P Global projected that global electricity demand will rise nearly 50% by 2040. It expects copper demand to climb with it, from 28 million metric tons in 2025 to 42 million metric tons. Demand from AI and data centers, and from defense, is each expected to roughly triple, together adding about 4 million metric tons a year. Without major changes, S&P sees a supply shortfall of 10 million metric tons by 2040.

Data centers use copper for power distribution, cooling, and connections to the grid. BloombergNEF has estimated that copper makes up nearly 6% of a data center project’s capital cost. It expects the sector to use about 400,000 tonnes of copper a year over the next decade on average, peaking at 572,000 tonnes in 2028, Mining.com reported. BNEF warned that the AI buildout “risks tightening the global copper market further” and sees a global shortfall of up to 6 million tonnes by 2035.

First Assays on Deck at Kolos

Torr Metals Inc. (TMET:TSX.V) expects its first assays from this year’s drilling at the Kolos copper-gold project in southern British Columbia soon. The first results will come from holes 26-KO-01 and 26-KO-02 at the Bertha North target.

The company has completed about 3,500 meters of a fully funded Phase 2 program of up to 6,000 meters. Its next holes, KP-7 and KP-8, will test farther south across a structural convergence and the upper margin of a deep resistivity anomaly that Torr interprets as a possible intrusive source. Crews are reopening historical exploration roads to reach those drill sites.

“Our next holes will follow this progression south,” President and Chief Executive Officer Malcolm Dorsey said.

Beyond Bertha North, Torr has other targets at Kolos. The permitted Lodi-Kirby and Kova porphyry targets are both in the pipeline, and the undrilled Sonic Zone carries a copper-gold soil anomaly that the company has expanded to about 8 square kilometers.

Hunting the ‘Heat Engine’ at Bertha North

In its September 23 update, Torr said its first four Phase 2 holes at Bertha North intersected copper-bearing hydrothermal breccias and mineralized structural corridors. Those structures converge in a southern area that coincides with strong copper-in-soil anomalies.

Hole 26-KO-04 came closest yet to the interpreted source. It intersected a magnetite-bearing intrusive dike with disseminated pyrite and chalcopyrite at about 460.5 meters, within a 40.6-meter mineralized and brecciated interval from 429.2 to 469.8 meters. A large resistivity anomaly beneath the target extends more than 1,000 meters vertically and remains open at depth.

“Phase II drilling is demonstrating the scale of the mineralized hydrothermal system at Bertha North,” Dorsey said, “giving us a clearer path toward its interpreted centre.”

Earlier holes also showed signs of a porphyry system. In August, Torr reported copper sulfides, including chalcocite, along the margins of a potassic-altered intrusive corridor in hole 26-KO-03, plus the program’s first native copper in hole 26-KO-04. “What is particularly exciting is that the geological vectors are strengthening as we advance,” Dorsey said at the time.

Difficult, highly altered ground has slowed drilling, the company said. All mineral identifications remain subject to laboratory confirmation.

Next Door to Canada’s Biggest Copper Mine

Kolos covers about 332 square kilometers along Highway 5, about 35 kilometers southwest of Kamloops. It sits about 30 kilometers southeast of Teck Resources Ltd.’S (TECK:TSX; TECK:NYSE) Highland Valley Copper mine, Canada’s largest open-pit copper operation.

Technical analyst Stewart Thomson said Torr’s chart had formed an inverse head-and-shoulders bottom, a classic reversal pattern, with a target of CA$0.28.

The project lies in the Quesnel Terrane, and Torr considers New Gold Inc.’s (NGD:TSX; NGD:NYSEAMERICAN) nearby New Afton copper-gold mine its closest geological analogue for Bertha North. Torr also holds an option on the 57-square-kilometer Bertha property.

Torr’s maiden Phase 1 program drilled 2,733 meters and found 68 mineralized intervals, the company said in May.

Before Phase 2 began in June, rock samples at Bertha North returned up to 2.4% copper and 9.4 grams per tonne silver from brecciated, potassic-altered float with strong malachite.

The company also holds the 261-square-kilometer Filion gold project in northern Ontario, just off the Trans-Canada Highway. There, historical trenching returned 13.1 g/t gold, and Torr has staked about 60 kilometers of strike along the gold-bearing structure.

Charting a Speculative Buy

In an October 15 update to Streetwise Reports, technical analyst Stewart Thomson said Torr’s chart had formed an inverse head-and-shoulders bottom, a classic reversal pattern, with a target of CA$0.28. He said the right shoulder of the pattern showed “bull wedge action” and that the stochastics oscillator was oversold, which he called bullish. The CA$0.28 target sits just above the top of the CA$0.08 to CA$0.27 trading range Thomson had flagged two months earlier.

¹In an August 20 review, Thomson said the first-ever drilling at Bertha North had confirmed a large porphyry-style hydrothermal system. He pointed to the August 18 discovery of potassic alteration and copper sulfides in hole 26-KO-03 as a potential vector toward a higher-grade core. He cited structural demand from EVs, renewable energy, and AI data centers as long-term support for copper, and noted that the company’s fully funded program and small market capitalization could give investors exploration leverage without near-term dilution from financing.

Torr “presents a compelling opportunity for investors seeking leveraged exposure to Tier-1 copper-gold discoveries,” Thomson wrote. “The August 18, 2026, confirmation of potassic alteration and copper sulfides at Bertha North signals proximity to a high-grade porphyry core, significantly de-risking the district-scale potential of the Kolos Project.”[OWNERSHIP_CHART-11133]

At the time, with the stock at CA$0.15, Thomson identified CA$0.19, CA$0.27, and CA$0.46 as short-, medium-, and long-term resistance levels and rated Torr a Speculative Buy. He listed exploration, financing, dilution, commodity prices, and permitting as key risks.

Ownership and Share Information²

Torr Metals Inc. has a market cap of CA$10.45 million, with 84.02 million shares outstanding. The company’s 52-week range is CA$0.08-CA$0.27.

Strategic investors own 4.76% of shares, while management and insiders own 4.32%. The rest is retail.

Common Questions from Investors

What is driving copper prices?

Copper set records in September and remains near those highs, supported by supply disruptions such as the recent partial halt at Codelco’s El Teniente mine. Over the longer term, S&P Global expects demand to rise 50% by 2040 as electricity use grows, with AI, data centers, and defense among the fastest-growing sources. New mines take an average of nearly 18 years to reach production.

What are Torr Metals’ next catalysts?

The first Phase 2 assays from holes 26-KO-01 and 26-KO-02 are expected soon. After that come holes KP-7 and KP-8, which will test farther south toward the interpreted intrusive source at Bertha North.

What has drilling found so far at Bertha North?

The first four Phase 2 holes intersected copper-bearing hydrothermal breccias and mineralized structural corridors. Hole 26-KO-03 hit copper sulfides along a potassic-altered intrusive corridor, and hole 26-KO-04 intersected a mineralized magnetite-bearing intrusive dike at about 460.5 meters. These are visual observations, and assays are pending.

Where is the Kolos project, and how big is it?

Kolos covers about 332 square kilometers along Highway 5, about 35 kilometers southwest of Kamloops in southern British Columbia. It lies about 30 kilometers southeast of the Highland Valley Copper mine.

Is drilling funded?

Yes. Torr says its Phase 2 program of up to 6,000 meters is fully funded.

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Important Disclosures:

1. Torr Metals Inc. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torr Metals Inc.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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1. Disclosure for the quote from the Stewart Thomson article published on August 20, 2026

1. Torr Metals Inc. has paid Street Smart (an affiliate of Streetwise Reports) a fee of US$3,000 for the preparation of an independent technical research report.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. Mr. Thomson is not an investment advisor. He does not know the financial situation or risk tolerance of any reader. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. 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. Mr. Thomson owns no securities in Torr Metals Inc., and he has no direct financial relationship with the company.

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.

( Companies Mentioned: TMET:TSX.V, )

Source: https://www.streetwisereports.com/article/2026/10/15/record-copper-and-ai-demand-put-torr-metals-kolos-assays-in-the-spotlight.html