|July 24, 2014|
Ituna Acquires Tarku-North Property
|Cranbrook, BC - Ituna Capital Corporation (TSX-V: TUN) is pleased to announce it has acquired the strategically-located Tarku-North property in the Northern Athabasca Basin. The 29,000 ha property overlies approximately 90 km of the northern extension of the Snowbird tectonic zone, considered to be highly prospective for the presence of uranium. The property was acquired by staking and is owned 100% by Ituna, with no underlying royalties or encumbrances. |
The Tarku-North property covers the Black Lake Shear zone, the northern extension of the Snowbird tectonic zone which hosts the Centennial deposit, located near the southern limit of the Athabasca Basin. Nearby projects of interest along the same fault zone include the past-producing Nisto Mine, and Middle Lake/Dees showings. Both occurrences are located 15km south of the Tarku-N project, near the northern margin of the Athabasca basin, and are host to unconformity-related uranium mineralization. In 1959 the Nisto Mine rendered a 106 ton shipment at 1.63% U3O8 (GSC World Mineral Deposit Database). Mineralization at the historic Nisto mine along the Black Lake fault strongly suggests that this structure is fertile for uranium mineralization. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Tarku North property.
Ituna's Tarku project covers over 45,000 hectares including 45 km of the southern extension of the Snowbird tectonic zone. The property hosts a geological setting analogous to that of the Patterson Lake South discovery 100 km northwest.
Jarrod Brown, P.Geo., is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Ituna Capital Corporation
Ituna Capital Corporation (Ituna) began as a Capital Pool Company. Clear Creek Resources Inc. Clear Creek) was formed on March 21, 2011 for the purpose of exploring, developing and commercially exploiting precious metal projects in Westerns Canada. In 2014 Clear Creek and Ituna entered into a 3-cornered amalgamation that resulted in an RTO of Ituna. Ituna's focus is to further explore the Tarku Property (see ITUNA news release dated January 17, 2014) as recommended in the Technical Report dated January 31, 2014 entitled "Clear Creek Resources Ltd. Technical Report on the Tarku Exploration Project Northern Saskatchewan Canada" (also filed April 29, 2014 on SEDAR at www.sedar.com), with the objectives of confirming and expanding the extent of mineralization at target areas on the Tarku Property so that its potential for development can be determined.
On behalf of the Board of Directors,
ITUNA CAPITAL CORPORATION
Per: "Bernie Kennedy"
Bernie Kennedy, CEO
You can view the Next News Releases item: Tue Sep 2, 2014, Ituna Capital Corp. Changes Name To Tarku Resources Ltd. And Changes Trading Symbol
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