MONTREAL, April 19, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce that at its Annual General and Special Meeting held on April 7, 2022, Tarku Shareholders have re-elected as directors: Bernard Lapointe, Julien Davy, Jeff Sheppard, Kyle Appleby and David Watkinson.
The shareholders have also approved to maintain the stock option plan as described in the Information Circular and to continue with Davidson & Company LLP. as the independent auditor of the Corporation.
Following the annual meeting, the Board of Directors appointed the following persons as officers of the Corporation: Bernard Lapointe, Chairman of the Board, Julien Davy, President and Chief Executive Officer and Kyle Appleby, Chief Financial Officer.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Arizona, in the famous Tombstone District, Tarku owns 100% of 29 km2 of the Silver Strike Project, which has been interpreted by management as similar to what is found at the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, April 14, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce that it has engaged GoldSpot Discoveries Corp. (“GoldSpot”) (TSXV: SPOT) to assist the Company with target generation at Tarku’s Silver Strike Project, located in the Tombstone District, Arizona. GoldSpot has a large, internationally renowned team of geoscientists and data scientists that are focused on maximizing the chances of discovery using GoldSpot’s proprietary technology and technical expertise. GoldSpot is a leading technology services company that uses machine learning to transform the mineral discovery process. Work has already commenced, with GoldSpot’s Team undertaking magnetic/VLF and radiometric data survey.
Julien Davy, President and CEO of Tarku Resources said: “The GoldSpot Team have a proven track record and we are excited to be working with them on what we believe is one of the most promising projects in Arizona. The geophysical data acquired from this survey will be introductory work that will form the basis upon which, the Tarku and GoldSpot teams will use Artificial Intelligence targeting at Silver Strike and should set the Company up for an exciting year ahead.”
The Geophysical Survey:
GoldSpot’s geophysical services division utilizes the M-PASS system, a triaxial magnetic gradient/VLF platform, with a 2048-channel radiometric sensor that includes a high-resolution camera capable of producing four-band imagery. The combination of these systems onto a single helicopter allows for increased data captured through a single mobilization and flight creating a significantly cost-effective solution for multi-parameter data.
The MAG data of this survey will be first recent geophysical data over the area and has successfully been used to aid the in discovery of Carbonate Replacement Deposit (CRD), which is what Tarku is targeting at Silver Strike.
About the Silver Strike Project
Tarku's Silver Strike Project is located in Cochise County, Arizona, in the famous Tombstone Mining District, one of the earliest silver mining areas in the western United States where production started from numerous silver mines in 1877. Despite the attractive quantity of silver found in the district, low metal prices of the 1915's (below 1 USD/oz), a financial panic, the removal of the United States currency from the silver standard (since the 1900s), as well as the technical inability to deal with underground waters, caused this area to be overlooked.
The area is rich in silver and other base metals and yet has never been explored in modern times with a "big picture" view and utilizing a thorough systematic approach. More than 95% of historic production is from less than 200 meters from surface and is primarily from oxide ore minerals. Discovery potential is remains significant.
The 2021 drill program at Silver Strike has revealed in addition to silver, the presence of high-grades of gold, lead, and zinc suggesting similarities in terms of geological context to the nearby Hermosa Project, which in 2018 was purchased by South32 for US$1.8 billion.
In 2022, Tarku’s program will focus on project advancement, and new discoveries by conducting geophysical, geochemical and a minimum of 5,000-meter drilling focusing on surface to 400 meters depth along the Lucky Cuss and the Ground Hog Trend.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Arizona, in the famous Tombstone District, Tarku owns 100% of 29 km2 of the Silver Strike Project, which has been interpreted by management as similar to what is found at the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, April 13, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) announces that it closed on April 13, 2022, a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of $638,455. The Private Placement was comprised of 6,384,550 units of the Company at a price of $0.10 per share.
Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one common share at a price of $0.15 per common share for a period of twenty-four (24) months ending April 13, 2024. Insiders of the Company subscribed for 250,000 units.
All securities issued pursuant to the Private Placement with be legended with a hold period of four (4) months and one day from the date of issuance. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
The Company paid finder’s fees in a cash commission equal to 2% of aggregate proceeds from the sale of Units sourced by the finder totaling $3,000. The Private Placement has been conditionally accepted by the TSX Venture Exchange.
The net proceeds of the Private Placement will be mainly used to fund the Company’s precious metals exploration Silver Strike Project in Arizona.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone District, Tarku owns 100% of 29 km2 in the Silver Strike Project
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
New agreement executed for 100% ownership of the Silver Strike Project, located in Tombstone, Arizona
Simplified agreement eliminates all minimum exploration and other cash commitments to vendors, as well as previous lengthy earn-in phase.
MONTREAL, February 25, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce that it has entered into a new agreement which provides the Company with immediate 100% ownership of the Silver Strike Project, in the Tombstone area, Arizona from EXLA Resources (OTC PINK: EXLA) (“EXLA”).
On February 1st, 2022, EXLA announced that it had entered into a binding agreement to purchase through a combination of cash and stock all the rights, interests and future benefits currently held by Mansfield Martin and associated parties in the Silver Strike Project.
Tarku and EXLA have agreed to terminate the original acquisition agreement and replace it with a new agreement granting Tarku immediate 100% ownership of the Silver Strike Project, as per the terms stated below.
Julien Davy, President, and CEO of Tarku, stated: “This is a transformational development for Tarku. This new agreement creates significant value for our shareholders by giving us an immediate 100% interest in the exciting Silver Strike Project. Tarku, will own and control more than 1,200 hectares of ground, in a famous historic mining district that has produced high-grade silver from surface to a maximum depth of 200m in the early-1900s and is known to have the geological potential for more silver, copper, gold, lead, zinc, and manganese mineralization.
This new agreement is a win-win solution, as EXLA now benefits from significant exposure to a consolidated 100% of the Silver Strike Project, as well as a focused exploration partner committed to its development. Tarku has lowered its commitments to acquire the project and will have better control on its exploration expenses. The consolidated ownership will also greatly facilitate capital raising initiatives going forward.”
Chris Lotito, President, and CEO of EXLA, stated: “The opportunity to partner with an exploration team of Tarku’s experience and pedigree is an exciting development for EXLA Resources. Consolidation of the ownership of the Silver Strike Project, ensures it can be advanced in the most streamlined method, and as a major shareholder of Tarku we will benefit from the value uplift of the project as it is advanced. We are also delighted to gain exposure to Tarku’s exciting Three A’s Project, located in Matagami Greenstone Belt.”
The Purchase Agreement
Dated February 24, 2022, EXLA and Tarku entered into an agreement to terminate the previous earn-in option agreement to acquire 75% of the project over 3 years, signed October 12, 2020, with the former vendor and simultaneously entered into a new purchase agreement, allowing Tarku to acquire 100% of the 140 mining titles in Tombstone that is now held by EXLA in return for consideration of:
7,000,000 Tarku’ Shares (the “First Tranche Shares”) issue to EXLA, which will give EXLA a 9.65% interest in Tarku and
Delivering to EXLA debentures being comprised of an aggregate five hundred thousand Canadian dollars (CAD$500,000) principal amount of a six percent (6%) convertible unsecured subordinated debenture due in 60 months (5 years). Each debenture is convertible at a price of CAD$0.10 (collectively the “Second Tranche Shares”);
Granting EXLA a first right of refusal (ROFR) allowing EXLA the right to maintain its ownership position by participating in subsequent Tarku financings;
Award EXLA a two percent (2%) NSR on the Property, one percent (1%) of which could be repurchased by Tarku for one million US dollars (USD$1,000,000).
About the Silver Strike Project
Tarku's Silver Strike Project is located in Cochise County, Arizona, in the famous Tombstone Mining District, one of the earliest silver mining areas in the western United States where production started from numerous silver mines in 1877. Despite the attractive quantity of silver found in the district, low metal prices of the 1915's (below 1 USD/oz), a financial panic, the removal of the United States currency from the silver standard (since the 1900s), as well as the technical inability to deal with underground waters, caused this area to be overlooked.
The area is rich in silver and other base metals and yet has never been explored in modern times with a "big picture" view and utilizing a thorough systematic approach. More than 95% of historic production is from less than 200 meters from surface and is primarily from oxide ore minerals. Discovery potential is remains significant.
The 2021 drill program at Silver Strike has revealed in addition to silver, the presence of high grades of gold, lead, and zinc suggesting similarities in terms of geological context to the nearby Hermosa project which in 2018 was purchased by South32 for US$1.8 billion.
In 2022, Tarku’s program will focus on project advancement, and new discoveries by conducting geophysical, geochemical and a minimum of 5,000-meter drilling focusing on surface to 400 meters depth along the Lucky Cuss and the Ground Hog Trend.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone District, Tarku owns 100% of 29 km2 in the Silver Strike Project
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, February 19, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) announces that the board of directors has approved the grant of 1,500,000 stock options (“Options”) pursuant to the Company's Stock Option Plan. The options, which were granted to directors and officers of the Company, are exercisable at a price of $0.10 per share. If not exercised, the Options will expire on February 16, 2027, subject to earlier expiration in accordance with the Stock Option Plan and the applicable policies of the TSX Venture Exchange.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone District, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
Acquisition of the Silver Strike Project, located in Tombstone, Arizona where surface sampling returned high-grade mineralization with grades up to 2,447 g/t silver equivalent (AgEq);
Initial drilling at Silver Strike demonstrated the presence of new areas of mineralization with standout results from the Lucky Cuss Trend, with grades up to 1,515 g/t silver equivalent (AgEq) over 1.5 m (SS21-007);
Similarities between the geology at the Lucky Cuss Trend and the Ground Hog Target suggest a 4km-long structure that has never been fully explored;
Cementing landholding in Tombstone with the acquisition of additional licences at Silver Strike;
2021 Achievements in Quebec:
Identified new targets with geophysical surveys on 3As Projects;
$750k financing completed to prepare for a 2022 drill program;
Plan for 2022:
Deep penetration and high-definition IP geophysical survey over priority area on Atlas and Apollo Projects, located in Quebec;
+3,000-meter drill program on Apollo and Atlas Projects;
High-definition geophysical survey over Silver Strike Project;
+5,000-meter drill program at Silver Strike Project.
MONTREAL, February 3rd, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to provide shareholders with a year in review and an update on our plans for 2022.
Julien Davy, President, and CEO of Tarku, stated: “2021 was a transformational year for Tarku, with the acquisition of the Silver Stike Project rapidly followed up by our maiden drill program that proved the presence of high-grade silver mineralisation on trend with historical workings, as well as in areas that were previously untested. 2022 will see our Team build on the previous year with larger exploration programs in both in Arizona and Quebec. Over the past 12 month, we have completed initial reconnaissance stage work and target definition, and as a result we are now ready to drill test these exciting targets. Our work programs include the drilling the Waswanipi Shear Zone, which appears to be the eastern extension of the gold-bearing Detour Lake structure at the 3As Project in Quebec. In Arizona, we’ll be completing geophysics and a follow-up drill program on several targets. We believe that our assets, in Quebec and in Arizona will allow us to create great value for our shareholders in 2022.”
2021 Achievements:
In March 2021, Tarku announced the initiation of a reverse circulation (“RC”) drill program on the Silver Strike Project, located in Arizona. The program was designed to test more advanced and early-stage targets that included the Lucky Cuss, Luck Sure, Telephone, Bunker Hill and Ground Hog historic mines, which produced high-grade silver to a maximum depth of 200 m.
A total of 23 RC drill holes totaling 8,921 feet (2,719.1 meters) were completed. This program succeeded in defining high-grade mineralisation results close to historic mines and demonstrated the strong regional potential with high-grade silver surface sampling results at Ground Hog, 4km along strike from the historic mines. Results include:
720 g/t silver, 6.44 g/t gold, 0.64% copper and 10.13% lead-zinc combined or 1,515 g/t silver equivalent (AgEq) over 1.5 m at 7,6 meters in hole SS21-007 (Lucky Cuss),
203 g/t silver, 0.31 g/t gold, 0.19% copper and 0.64% lead-zinc combined or 264 g/t silver equivalent (AgEq) over 1.5 m at 74.7 meters in hole SS21-007 (Lucky Cuss),
204 g/t silver, 0.38 g/t gold and 1.19% lead-zinc combined or 262 g/t silver equivalent (AgEq) over 1.5 m at 74.7 meters in hole SS21-012 (Ground Hog)
Based on an updated understanding of the geology we now consider the primary targets to be as a carbonate replacement deposits (CRD), similar to the Hermosa Project, also located in Arizona.
In May 2021, the Company announced that its common shares had commenced trading in Europe on the Frankfurt Stock Exchange ("FRA") under the symbol “7TK” and on the OTCQB Venture Marketplace ("OTCQB") in the United States under the symbol "TRKUF" offering the ability for trading on three marketplaces around the world including the Toronto Stock Venture Exchange.
In June 2021, Tarku provided an update on the geophysical survey results of its two wholly-owned Projects, Apollo and Atlas, in the Matagami area, Eeyou Istchee James Bay, Quebec. A 750 line-km geophysical high-resolution magnetic (MAG) and time-domain electromagnetic (TDEM) survey was completed partly over the Apollo and Atlas Projects.
At Apollo, the survey demonstrated the extension of the Rivière Waswanipi Shear Zone to the east and the west and presents a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions, which Tarku interprets as being similar in nature to those of the regional Sunday Lake Fault, host of the Detour Lake Mine or the Kirkland Lake Mining Camp.A previously completed till sampling program identified a 6km wide zone along the regional Rivière Waswanipi Shear Zone (RWSZ) that may be the source of the gold grains sampled.
On Atlas, the survey also demonstrated the continuity of the contact between the calc-alkaline intermediate to felsic volcaniclastic (tuff) sequence with the sedimentary rocks, highlight the potential for gold-rich volcanogenic massive sulphides (Au-Zn-Ag-Cu VMS).
In December 2021, Tarku announced that it has closed a non-brokered private placement for aggregate gross proceeds of $750,000 comprised of 7,500,000 Flow-Through Shares of the Company at a price of $0.10 per share, which will be used to fund the Company’s precious metals exploration projects in Quebec (Apollo, Atlas and Admiral).
2022 Exploration Plans
The 2022 program will focus on project advancement, and new discoveries.
Silver Strike Geophysical Program:
The variety of mineralization within the sediments at the Lucky Cuss and Ground Hog Targets, suggest that the carbonate replacement deposit (CRD) model could be more extensively spread than originally expected and that the limits have not yet been found. CRD is typically a high-temperature carbonate-hosting Ag-Pb-Zn deposits formed by the replacement of sedimentary rocks, usually carbonates, by metal-bearing solutions in the vicinity of igneous intrusions. This model is similar to what is found at the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. Tarku’s intension is to conduct a deep penetrating and high-resolution geophysical survey over the priority targets defined in 2021 with a drill program to follow.
Silver Strike drilling program:
A minimum of 5,000-meter drilling program is planned at the Silver Strike Project focusing on surface to 400 meters depth along the Lucky Cuss and the Ground Hog trend. Exploration drilling will also testing the best geophysical anomalies of the planned survey over the property.
The 3As Geophysical Survey:
A geophysical survey of 14.5-line km of Alpha IP™ data along 8 lines with penetration up to 500 m is planned, which will be ideal for the deeper hosted targets on the property. High-definition 50 m spacing for stations will be used to enable best detection of the mineralized zones, which are characterized as orogenic gold targets associated with the Waswanipi Structure.
The 3As drilling program:
Tarku is planning an about 3,000-meter drilling program over the Waswanipi Fault, following the magnetic survey and deep penetration survey.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone District, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, December 06, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) announces that it has closed on December 3rd, 2021, a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of $750,000. This Private Placement is comprised of 7,500,000 Flow-Through Shares of the Company at a price of $0.10 per share.
In addition, the Company expects closing a second Private Placement before December 17, 2021, that will consist of a maximum 2,500,000 units at a price of $0.10 per unit, for a maximum of $250,000. Each unit will consist of one common share and one-half (1/2) common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share at a price of $0.15 per common share for a period of 24 months after the closing.
All securities issued pursuant to the Private Placement will be legended with a hold period of four (4) months and one day from the date of issuance. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
The Company paid finder’s fees in a cash commission equal to 7% of aggregate proceeds from the sale of Units sourced by the finder totaling $38,500, as well as finder’s warrants (the “Finder’s Warrants”) in an amount of 385,000 which is equal to 7% of the aggregate number of Units sourced by the finder pursuant to the Private Placement.Each Finder’s Warrant is exercisable to purchase one Common Share at an exercise price of $0.15 until December 3rd, 2023.
The net proceeds of the Private Placement will be used to fund the Company’s precious metals exploration projects in Quebec (Apollo, Atlas Apollo and Admiral). The Private Placement has been conditionally accepted by the TSX Venture Exchange.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, August 10, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce the successful completion of its 2021 drill program on the high-grade Silver Strike Project in the Tombstone District of Arizona (the “Project”). Tarku’s drill program confirmed the presence of several high-grade silver veins and structures along with copper lead and zinc. The results additionally demonstrated the presence of a possible Carbonate Replacement Deposit (“CRD”) System, similar to the nearby Hermosa project in Arizona.
Julien Davy, President, and CEO of Tarku, stated: “We are extremely pleased with the results of this first drill program on the Silver Strike project. There is a 4 km distance between Lucky Cuss and East Side historical mines and the Ground Hog Area. We have received high-grade silver results at both points close to the surface and around 100m depth. Our interpretations do date let us strongly speculate that both areas are geologically related, opening the potential for a large Carbonate Replacement system feeding all various spikes similar to the world-class Hermosa Mine, located within a comparable geological environment 80km from our project.”
Highlights from Tarku’s 2021 Phase 1 exploration and drill program:
Drill program successfully demonstrates high-grade mineralization with results as (see figure 1 & 2):
720 g/t silver, 6.44 g/t gold, 0.64% copper and 10.13% lead-zinc combined or 1,515 g/t silver equivalent (AgEq) over 1.5 m at 7,6 meters in hole SS21-007 (Lucky Cuss),
203 g/t silver, 0.31 g/t gold, 0.19% copper and 0.64% lead-zinc combined or 264 g/t silver equivalent (AgEq) over 1.5 m at 74.7 meters in hole SS21-007 (Lucky Cuss),
214 g/t Silver at 70.1 meters in hole SS21-004 (East Side),
204 g/t silver, 0.38 g/t gold and 1.19% lead-zinc combined or 262 g/t silver equivalent (AgEq) over 1.5 m at 74.7 meters in hole SS21-012 (Ground Hog),
Surface exploration demonstrates high-grade mineralization at Ground Hog, 4km away from Lucky Cuss (see figure 1 & 2):
2,030 g/t silver, 0.13 g/t gold, 0.72% copper and 12.26% lead-zinc combined or 2,447 g/t silver equivalent (AgEq) at surface in a grab sample at Ground Hog,
778 g/t silver, 0.65 g/t gold, 1.63% copper and 0.79% lead-zinc combined or 1,018 g/t silver equivalent (AgEq) at surface in a grab sample at Ground Hog,
Drill program results have allowed Tarku to further its understanding of regional geology and to refine its exploration approach for next phases at Silver Strike:
The new data seem to better fit a CRD type model similar to the nearby Hermosa Project in Arizona,
Fines samples returned assay results up to 1,000% higher than Regular Samples suggests underestimated assay results through the RC drill program,
Next Steps (phase 2) will encompass Geophysical and Geochemical regional surveys to prepare for an expanded core drilling program on priority targets (Phase 3).
2021 Drilling program on Silver Strike
This latest drill program completed by Tarku on the Silver Strike project is the first comprehensive drill program ever completed in this area. During the 38 years from 1877 to 1915, the area is known to have produced approximately 32 million ounces of silver at an average grade of almost 26 oz/t as well as 260,000 ounces of gold at 6.5g/t and in lesser amounts other base metals such as lead, zinc, copper, and manganese. These historical results were then known to be exclusively carried in high-grade silver veins of 1 or 2 feet wide.
As mentioned in the previous June 3rd press release, Tarku’s initial drilling program was designed to validate these historical high-grade values by testing both the near vicinity of past mines as well as the extension potential until 4km to the South-West. A total of 23 Reverse Circulation (“RC”) drill holes totaling 8,921 feet (2,719.1 meters) have been completed. The best results are listed in table 1 below. The management considers this program as a technical accomplishment by succeeding the replication of high-grade results close to past mines, by demonstrating the strong regional potential with economic Silver results at Ground Hog, 4km away from historical area, and by refining his understanding of regional geology and the mineralizing system, no longer consider as a epithermal system with silver vein, but as a carbonate replacement system (CRD), similar to the Hermosa project, Arizona.
Underestimated Samples illustrated by the Fines
Sampling methodology included the taking of 5 ft long samples and all results are reported as an average grade over 5 ft. Each sample was collected at the drill rig using a binary splitter that directs half the sample into a sample bag which is sent for analysis, while the other half is bagged and kept in storage as a field duplicate. Fines samples from the vacuum were previously not considered in this drill program, but 7 Fines samples were taken for test purposes returning results up to 1,000% higher as illustrated in figure 4 below. Tarku cautions that 7 samples over the whole drill program are not sufficient to complete a comprehensive reconciliation procedure but it illustrates a known sampling discrepancy between Fines and Regular Samples using standard RC sampling methodology. It is accepted that Fines could easily average 20% of overall Sample Mass with RC drilling and depending on the mineralization environment, the inclusion of Fines could significantly increase the mineralization results (see figure 4).Full drilling sample methodology and Quality Assurance / Quality Control were described in the press release dated May 6th, 2021.
Julien Davy, President, and CEO of Tarku stated: “These results will assist us in refining the overall exploration model and facilitate the interpretation of several anomalous silver structures. Results are very encouraging as several holes returned economical values for silver, gold, and other base metals. The detection of the fact that the results in the Fines could be up to 1,000% higher than the regular samples is major and will be considered in the upcoming exploration Phase 2 and 3. It suggests that most of our medium grade results could be high-grade results and therefore add to the attractiveness of the Silver Strike project”.
The Carbonate Replacement Deposit model suggested
The variety of mineralization within the sediments at Lucky Cuss and Ground Hog, suggest that the Carbonate Replacement Deposit (CRD) model could be more extensively spread over the Silver Strike property than originally expected and that the limits have not yet been found. CRD is typically a high-temperature carbonate-hosting Ag-Pb-Zn deposit formed by the replacement of sedimentary, usually carbonate rock, by metal-bearing solutions in the vicinity of igneous intrusions that play the role of heat source. With some local variations, ore body geometries could vary from chimneys to veins to the blanketlike body along the bedding plane of the rock, it is then commonly called a manto. Those Polymetallic replacements/mantos are often stratiform wall-rock replacement orebodies distal to porphyry deposits (copper or molybdenum). The presence of abundant manganese on the Silver Strike Project is typical in that environment and reinforces the potential CRD deposit.
This model is similar to what is found at the Hermosa Project, located 80km west in Santa Cruz County, Arizona which South32 acquired for USD 1.8 billion in 2018. The Hermosa project See figure 1, which hosts the Taylor Deposit, is hosted in the related age and comparable sediment types and is classified as a CRD style zinc-lead-silver massive sulphide deposit. The updated Mineral Resource reported under the JORC Code (2012) at 138 million tonnes, averaging 3.82% zinc, 4.25% lead, and 81 g/t silver with a contained 5.3 million tonnes of zinc, 5.9 million tonnes of lead and 360 million ounces of silver.
Table 1 below lists the best assay results received and utilizes samples with over 5 g/t silver and over 0.05 g/t gold. Due to the presence of some significant gold and base metals results, a silver equivalent index (AgEq) was calculated using the criteria described below, Table 1.
Tarku is now in an excellent position to plan future exploration programs that will encompass soil geochemistry, geophysics surveys, and more significant and targeted diamond drill programs.
Figure 1: Location Map positioning the Silver Strike projects and other major mining project as the Hermosa projects in South Arizona – News Release August 10th, 2021 (see full size figure on web site).
Figure 2: Lucky Cuss and Bunker Hill area – News Release August 10th, 2021 (see full size figure on web site)
Figure 3: Ground Hog area – News Release August 10th, 2021 (see full size figure on web site)
Figure 4: Variation between 4 Fines assay results and their regular sample results during Silver Strike RC drill program suggesting an up to over 1,000% higher mineralization content in the Fines – News Release August 10th, 2021.
Table 1: Drill Hole Best Assay Results updated as of this date – News Release August 10th, 2021.
Hole #
Target
From (m)
To (m)
Width (2) (m)
Ag(g/t)
Au(g/t)
Cu(%)
Pb(%)
Zn(%)
Ag Eq (1)(g/t)
Pb+Zn Comb.(%)
Mn(%)
SS21-001
Lucky Cuss
3,0
18,3
15,2
4
0,03
6
0,27
SS21-002
Lucky Cuss
0,0
3,0
3,0
12
0,26
0,09
0,27
0,49
63
0,76
0,26
SS21-003
Luck Sure
47,2
48,8
1,5
38
0,23
0,19
0,09
62
0,28
1,02
SS21-004
East Side
67,1
73,2
6,1
136
0,09
138
0,09
2,68
incl,
70,1
73,2
3,0
214
0,09
216
0,09
3,87
SS21-004
East Side
80,8
86,9
6,1
24
24
0,79
incl,
82,3
86,9
4,6
28
0,19
0,25
41
0,44
0,83
SS21-005
East Side
123,44
128,02
4,6
24
0,30
0,06
0,20
0,25
66
0,45
0,33
incl,
123,4
126,5
3,0
22
0,39
0,10
0,22
0,33
77
0,55
0,44
SS21-006
Lucky Cuss
56,4
67,1
10,7
20
0,34
0,02
0,20
0,16
57
0,36
0,46
incl,
56,4
59,4
3,0
17
0,75
0,06
0,39
0,36
100
0,75
0,36
SS21-007
Lucky Cuss
4,6
22,9
18,3
99
0,86
0,05
0,61
0,47
198
1,09
0,55
SS21-007
incl,
6,1
9,1
3,0
397
3,85
0,20
2,73
2,70
855
5,43
0,84
incl,
7,6
9,1
1,5
720
6,44
0,34
5,08
5,05
1 515
10,13
1,11
SS21-007
Lucky Cuss
15,2
22,9
7,6
55
0,37
0,04
0,08
0,03
89
0,11
0,33
incl,
15,2
16,8
1,5
80
1,03
0,18
0,07
0,06
180
0,14
0,50
SS21-007
Lucky Cuss
74,7
76,2
1,5
203
0,31
0,19
0,26
0,38
264
0,64
4,79
SS21-008
Bunker Hill
51,8
53,3
1,5
0,20
0,10
0,30
0,45
SS21-009
Bunker Hill
10,7
16,8
6,1
13
0,03
0,01
14
0,04
0,12
incl,
13,7
15,2
1,5
24
0,08
0,11
0,05
34
0,16
0,25
SS21-009
Bunker Hill
74,7
76,2
1,5
67
0,30
0,07
1,28
0,55
144
1,82
2,61
SS21-010
Bunker Hill
96,0
97,5
1,5
11
0,07
0,29
0,14
27
0,42
0,85
SS21-011
Ground Hog
64,0
70,1
6,1
11
0,03
0,00
0,10
0,03
17
0,13
0,16
SS21-012
Ground Hog
71,6
89,9
18,3
31
0,15
0,00
0,51
0,19
61
0,70
1,60
incl.
73,2
74,7
1,5
204
0,38
0,00
0,90
0,28
262
1,19
0,35
SS21-013
Ground Hog
No significant results
SS21-014
Ground Hog
No significant results
SS21-015
Ground Hog
134,1
141,7
7,6
13
0,32
0,00
0,13
0,26
48
0,38
2,08
SS21-016
Ground Hog
76,2
77,7
1,5
26
0,47
0,00
0,59
0,36
86
0,94
5,13
SS21-017
Ground Hog
No significant results
SS21-018
West Rattlesnake
Abandoned hole
SS21-019
West Rattlesnake
No significant results
SS21-020
Ace in the Hole
95,0
120,0
25,0
9
0,09
0,00
0,10
0,31
28
0,41
0,65
SS21-021
Ace in the Hole
44,2
47,2
3,0
11
0,00
0,00
0,05
0,47
27
0,53
0,63
SS21-022
Solstice
22,9
29,0
6,1
45
0,05
0,00
0,10
0,21
58
0,31
1,30
SS21-022
Solstice
103,6
105,2
1,5
96
0,41
0,00
0,13
0,49
145
0,62
5,66
SS21-023
Solstice
24,4
25,9
1,5
40
0,10
0,00
0,22
0,19
59
0,42
2,19
Ag Equivalent (AgEq): Only samples with over 5g/t Ag and over 0.05g/t Au were used - Prices of $24/oz silver, $1,800/oz gold (ratio Au:Ag = 65:1), $4.00/lb copper (ratio Cu:Ag = 0.01:1), $0.90/lb lead (ratio Pb:Ag = 0.002:1) and $1.20/lb zinc (ratio Zn:Ag = 0.003:1) were used for equivalent calculations. 100% recoveries have been considered as no metallurgical study has been made yet.
Intervals shown are drill intercept, true thickness cannot be calculated yet.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, June 3rd, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce additional results from its 2021 drill program on the high-grade Silver Strike Project in the Tombstone District of Arizona (the “Project”). Significant results include 720 g/t silver, 6.44 g/t gold, 5.08% lead and 5.05% zinc or 1,515 g/t silver equivalent (AgEq) over 1.5 m in hole SS21-007 targeting north-south structure located in the historic Lucky Cuss mine area.
Julien Davy, President and CEO of Tarku, stated: “we are extremely pleased with the early results of our Silver Strike drill program. The silver equivalent numbers this close to the surface, far exceeded our expectations. Additionally, presence of gold, lead and zinc, at such high grades was unexpected and welcomed. To date we have received the lab results for 10 out of 23 drill holes, providing us already with a much clearer picture of the geological setting of our Silver Strike project. There are too many high-grade spikes of different metals at different locations over the project to assume coincidence, thus we strongly speculate presence of a large Carbonate Replacement system feeding all various spikes.”
“This mineralisation is within the same stratigraphic package and shows significant similarities in terms of geological context to the nearby Hermosa project which in 2018 was purchased by South32 for $1.8 billion.”
Tarku’s first drill program on the Silver Strike project was completed on May 28, 2021. The program totaling 8,921 feet aimed to test the potential of high-grade silver in 5 different zones (see Table 1 & 2):
the north-south structures (Lucky Cuss Fault) around the Lucky Cuss, Luck Sure and East Side historic mines areas,
the east-west structure (Prompter Fault) around the Bunker Hill historic mine area,
the regional north-east structure around the Ground Hog historic mine,
the west extension of the east-west Prompter fault and
the Solstice and Ace-in-the-Hole historic mines areas (see Figure 1).
The results received to date include the first 10 holes (SS21-001 to SS21-010) targeting the first two zones described above. Sampling methodology included taking of 5 ft long samples and all results are reported as an average grade over 5 ft.
Holes SS21-006 and SS21-007, revealed that the targeted Lucky Cuss structure encounters several high-grade mineralized zones that appear to be dipping at low angle (to sub-horizontal) within the north-south structure. If proven, this unexpected flat vein orientation within steeply dipping structures could help the Company to better target its future exploration programs. Hole SS21-007 intersected an interesting 3 metersgrading 397 g/t Ag, 3.85 g/t Au, 0.20% Cu, 2.73% Pb and 2.70% Zn or 855 g/t AgEq at the depth of 6.1 meters showing the high-grade potential of the Lucky Cuss veining system. As shown in Table 1, the same hole also intersected 1.5 m grading 180 g/t AgEq at 15.2 meters depth and 1.5 m grading 264 g/t AgEq at 74.7 meters depth supporting the stacking interpretation of several high-grade veins within the same Lucky Cuss structure.
The variety of mineralization within the sediments at Lucky Cuss suggest that the Carbonate Replacement Deposit (CRD) model could be more extensively spread over the Silver Strike property than originally expected and that the limits have not yet been found. CRD are typically high-temperature carbonate-hosting Ag-Pb-Zn deposit formed by the replacement of sedimentary, usually carbonate rock, by metal-bearing solutions in the vicinity of igneous intrusions that play the role of heat source. With some local variations, ore body geometries could vary from chimneys to veins to blanketlike body along the bedding plane of the rock, it is then commonly called a manto. Those Polymetallic replacements/mantos are often stratiform wall-rock replacement orebodies distal to porphyry deposits (copper or molybdenum).
Table 1 below lists the best assays results received to date and utilizes samples with over 5 g/t Ag and over 0.05 g/t Au. Due to the presence of some significant gold and base metals results, a silver equivalent index (AgEq) was calculated using the criteria described below, Table 1. Once all results have been received, Tarku will be in an excellent position to plan the future exploration programs that will encompass soil geochemistry, geophysics surveys, and a more significant and targeted drill programs.
Table 1: Drill Hole Best Assay Results updated as of this date - News Release June 3rd, 2021.
Hole
Target
From (m)
To (m)
Width (2)(m)
Ag(g/t)
Au(g/t)
Cu(%)
Pb(%)
Zn(%)
Ag Eq (1)(g/t)
Mn(%)
SS21-001
Lucky Cuss
3.0
18.3
15.2
4
0.03
6
0.27
SS21-002
Lucky Cuss
0.0
3.0
3.0
12
0.26
0.09
0.27
0.49
63
0.26
SS21-003
Luck Sure
47.2
48.8
1.5
38
0.23
0.19
0.09
62
1.02
SS21-004
East Side
67.1
73.2
6.1
136
0.09
138
2.68
incl.
70.1
73.2
3.0
214
0.09
216
3.87
SS21-004
East Side
80.8
86.9
6.1
24
24
0.79
incl.
82.3
86.9
4.6
28
0.19
0.25
41
0.83
SS21-005
East Side
123.44
128.02
4.6
24
0.30
0.06
0.20
0.25
66
0.33
incl.
123.4
126.5
3.0
22
0.39
0.10
0.22
0.33
77
0.44
SS21-006
Lucky Cuss
56.4
67.1
10.7
20
0.34
0.02
0.20
0.16
57
0.46
incl.
56.4
59.4
3.0
17
0.75
0.06
0.39
0.36
100
0.36
SS21-007
Lucky Cuss
4.6
22.9
18.3
99
0.86
0.05
0.61
0.47
198
0.55
incl.
6.1
9.1
3.0
397
3.85
0.20
2.73
2.70
855
0.84
incl.
7.6
9.1
1.5
720
6.44
0.34
5.08
5.05
1 515
1.11
SS21-007
Lucky Cuss
15.2
22.9
7.6
55
0.37
0.04
0.08
0.03
89
0.33
incl.
15.2
16.8
1.5
80
1.03
0.18
0.07
0.06
180
0.50
SS21-007
Lucky Cuss
74.7
76.2
1.5
203
0.31
0.19
0.26
0.38
264
4.79
SS21-008
Bunker Hill
51.8
53.3
1.5
0.20
0.10
0.45
SS21-009
Bunker Hill
10.7
16.8
6.1
13
0.03
0.01
14
0.12
incl.
13.7
15.2
1.5
24
0.08
0.11
0.05
34
0.25
SS21-009
Bunker Hill
74.7
76.2
1.5
67
0.30
0.07
1.28
0.55
144
2.61
SS21-010
Bunker Hill
96.0
97.5
1.5
11
0.07
0.29
0.14
27
0.85
SS21-011
Ground Hog
Assays pending
SS21-012
Ground Hog
Assays pending
SS21-013
Ground Hog
Assays pending
SS21-014
Ground Hog
Assays pending
SS21-015
Ground Hog
Assays pending
SS21-016
Ground Hog
Assays pending
SS21-017
Ground Hog
Assays pending
SS21-018
Sunset
Assays pending
SS21-019
Sunset
Assays pending
SS21-020
Ace in the Hole
Assays pending
SS21-021
Ace in the Hole
Assays pending
SS21-022
Solstice
Assays pending
SS21-023
Solstice
Assays pending
Ag Equivalent (AgEq): Only samples with over 5g/t Ag and over 0,05g/t Au were used - Prices of $24/oz silver, $1,800/oz gold (ratio Au:Ag = 65:1), $4,0/lb copper (ratio Cu:Ag = 0,01:1), $0.90/lb lead (ratio Pb:Ag = 0,002:1) and $1.2/lb zinc (ratio Zn:Ag = 0,003:1) were used for equivalent calculations. 100% recoveries have been considered as no metallurgical study has been made yet.
Intervals shown are drill intercept, true thickness cannot be calculated yet.
Table 2: Final Drill Hole Locations – News Release June 3rd, 2021
Hole
Target
Azimuth
Dip
Length drilled (ft)
Length drilled (m)
Coord_X (utmZ12N)
Coord_Y (utmZ12N)
SS21-001
Lucky Cuss
135
50
400
121.9
587 665
3 507 708
SS21-002
Lucky Cuss
95
50
439
133.8
587 670
3 507 713
SS21-003
Luck Sure
95
50
525
160.0
587 516
3 507 262
SS21-004
East Side
95
50
292
89.0
587 614
3 507 537
SS21-005
East Side
95
56
435
132.6
587 614
3 507 537
SS21-006
Lucky Cuss
95
55
220
67.1
587 670
3 507 711
SS21-007
Lucky Cuss
95
90
325
99.1
587 665
3 507 710
SS21-008
Bunker Hill
325
50
440
134.1
588 841
3 506 511
SS21-009
Bunker Hill
325
50
255
77.7
588 732
3 506 481
SS21-010
Bunker Hill
325
60
400
121.9
588 732
3 506 481
SS21-011
Ground Hog
140
50
315
96.0
586 005
3 504 576
SS21-012
Ground Hog
140
60
400
121.9
586 006
3 504 577
SS21-013
Ground Hog
135
50
550
167.6
586 124
3 504 716
SS21-014
Ground Hog
145
60
360
109.7
586 122
3 504 719
SS21-015
Ground Hog
135
50
580
176.8
586 061
3 504 636
SS21-016
Ground Hog
135
60
320
97.5
586 068
3 504 638
SS21-017
Ground Hog
212
60
440
134.1
585 997
3 504 578
SS21-018
West Rattlesnake
140
55
435
132.6
586 291
3 506 430
SS21-019
West Rattlesnake
140
55
270
82.3
585 472
3 505 915
SS21-020
Ace in the Hole
140
55
160
48.8
585 950
3 507 778
SS21-021
Ace in the Hole
140
80
340
103.6
585 949
3 507 778
SS21-022
Solstice
145
55
440
134.1
585 616
3 507 804
SS21-023
Solstice
140
70
580
176.8
585 616
3 507 804
TOTAL
8,921
2,719.1
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
MONTREAL, June 1st, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to provide an update on the geophysical survey results of its two wholly-owned Projects, Atlas and Apollo, in the Matagami area, Eeyou Istchee James Bay, Quebec. A 750 line-km geophysical High-resolution magnetic (MAG) and time-domain electromagnetic (TDEM) survey was completed partly over the Apollo, and Atlas Projects. Additionally, Tarku’s recent ground IP survey along the regional Rivière Waswanipi shear zone reaffirms the strong gold and base metal mineralization similarities with the geological context found at the Detour Lake Mine and the Kirkland Lake Mining Camp.
Julien Davy, President, and CEO of Tarku stated, “our recent geophysical surveys reinforce our understanding of the source of the gold and base metals and provides us with specific targets for a drill program. Both Apollo and Atlas projects are 100% owned by Tarku and follow two different geological environments with two different exploration models. Apollo, to the north, follows an Orogenic Gold model, similar to Kirkland Lake, here we are looking for the high Mag anomalies that we believe to be related to intrusions, and the Mag surveys illustrated this well. Atlas Project, to the south, seems to follow a Gold-rich VMS model similar to LaRonde Mine, where the geological environment of interest is related to the contact between the volcanic rock and the sedimentary rocks what the TDEM survey also illustrated well.”
MAG and TDEM Survey Highlights:
Well-defined geological environments promoting the formation of two different deposit models: Orogenic Gold on Apollo and Gold-rich VMS on Atlas (see Figures 1 & 2).
Magnetic data shows historical gold values associated with porphyritic and alkaline rocks in historical drill holes are mostly located at the edge of magnetic highs and none of the drill holes directly intersected high magnetic anomalies (see figure 1).
Survey identifies crosscutting NE-SW structures where the magnetic pattern abruptly disappears or is displaced within the Rivière Waswanipi shear zone, but also along the(see figure 1).
A new interpretation of the survey data has generated many high-priority drill targets focusing on structural intersections, interpreted intrusions, and historic untested geophysical anomalies.
MAG – TDEM Survey Results
In May 2021, Tarku completed a 750 line-km combined magnetic (MAG) and time-domain electromagnetic (TDEM) helicopter-borne survey over the main targeted areas of the Apollo and Atlas projects. Flight lines were surveyed at a 100-metre spacing and were conducted by Prospectair (Gatineau, Quebec) and Dynamic Discovery Geoscience (Ottawa, Ontario) aided in interpretation of the mineralized systems and identified new gold and base metals targets within the favourable zone.
On Apollo, the preliminary analysis of the MAG and TDEM survey clearly demonstrated the extension of the Rivière Waswanipi Shear zone to the east and the west, and all reported metallotects present a favourable setting for Orogenic gold mineralization associated with alkaline rocks and porphyry intrusions, which Tarku interprets as being similar in nature to those of the regional Sunday Lake Fault, host of the Detour Lake mine or the Kirkland Lake Mining Camp.As previously described, Tarku’s 2017 till sampling program identified a 6-km wide favourable zone along the regional Rivière Waswanipi shear zone (RWSZ) that may be the source of the gold grains sampled (see press release dated April 10th, 2019).
On Atlas, preliminary interpretations of the MAG and TDEM survey also demonstrated the continuity of the contact between the calc-alkaline intermediate to felsic volcaniclastic (tuff) sequence with the sedimentary rocks, indicating a favourable context for Gold-rich Volcanogenic massive sulphides (Au-Zn-Ag-Cu VMS). The survey also allowed Tarku to identify crosscutting structures where the magnetic pattern abruptly disappears or is displaced.
Figure 1: MAG Compilation on the Apollo and Atlas projects – News Release June 1st, 2021
Gold VMS mineralization, theorized by the Company to be associated with the volcanic/sediments contact (on the Atlas project), responded well in the survey and these structural features will allow Tarku to generate new targets which may have promoted the formation of mineral deposits containing gold and other metals of interest. This environment is a similar context to the Indice principale, Olga Zone deposit on Goldcorp Canada’s Lac Olga project, adjacent to the south of the Atlas Project and TDEM surveys have been used extensively and successfully to aid in identifying Gold VMS targets like Agnico Eagle’s LaRonde Mine. On Apollo, potential Orogenic gold mineralization in interpreted fault systems and shear zones will become priority targets for further field exploration.
Tarku cautions that the comparison of mineralization found at the Detour Lake mine, the Kirkland Lake mining Camp or at the LaRonde Mine may not be indicative of the mineralization that may be identified on the Company’s Matagami projects and the comparison is used as a conceptual exploration model only.
Figure 2: TDEM survey on the Apollo and Atlas projects – News Release June 1st, 2021
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised, and approved the technical information in this news release.
Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral, and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
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