Tarku provides an update on its 100% owned MAX Lithium property
- MAX Lithium property located in same geological context as and just 4 km southwest of the North American Lithium mine, the only operating lithium mine in Quebec
- 19 km2 property surrounded by spodumene-rich pegmatite showings and hosting several outcrops with as-yet untested potential
- First reconnaissance program identifies metric-sized pegmatites
MONTREAL, July 27, 2023. Tarku Resources Ltd (TSXV: TKU | FRA: 7TK | OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to provide an update on its 100% owned MAX Lithium property, located in Quebec, Canada, 45 km north of Val-d’Or and 4 km southwest of Sayona Mining’s North American Lithium mine (proven reserves of 1.2 million tonnes grading 0.92% Li2O and probable reserves 28 million tonnes grading 0.96% Li2O (source: company press release dated May 23, 2022)).
Initial reconnaissance work was carried out early in the summer in preparation for the next exploration steps. Even though the exploration team was forced to hastily evacuate the area due to uncontrolled forest fires, the one week of field work completed was sufficient to identify what appeared to be numerous metric-sized pegmatites scattered throughout the property.
While Tarku is aware that not all pegmatites in this type of geological environment are lithium-bearing, the Company’s recent compilation work shows that very little exploration has been done on the property in the last 30 years despite its prime location next door to Sayona Mining operations, with its identical geological context, and the many lithium-bearing pegmatites found in the vicinity of the property.
The next stage of exploration will include mapping and trenching to better define the spodumene-bearing pegmatites, with a view to preparing for a drill program on the property as soon as possible. Access and exploration work, including drilling, are possible year-round on the property, which makes it logistically easier to explore. The Company is eager to advance its understanding of the property’s lithium potential.
Update on the Apollo Project, Quebec
Following its initial drilling program (see news release dated April 4, 2023), Tarku is working on an NI 43-101-compliant technical report on its wholly owned Apollo project. The report will provide more ample information on the property geology and the results of the first drilling program, and will make recommendations for future work. Tarku expects to complete the report in the coming weeks.
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, a qualified person under National Instrument 43-101 on standards of disclosure for mineral projects, has prepared, supervised and approved the technical information in this news release.
Location of the MAX Lithium property
Figure 1: Location of Tarku’s MAX Lithium property within the La Corne batholith, 4 km from North American Lithium’s operation
Tarku Resources Ltd. (TSXV: TKU | FRA: 7TK | OTCBQ: TRKUF) is a mining exploration company focused on advancing the development of new discoveries by using modern techniques in favourable mining jurisdictions such as Quebec and Arizona.
In Arizona, within the famous Tombstone District, Tarku owns 100% of the 29 km2 Silver Strike project. Silver Strike has been interpreted by management to have the potential for similar Carbonate Replacement Deposits (CRD) comparable to those of the Hermosa project, located 80 km 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) in the Matagami Greenstone Belt, interpreted by management as the eastern extension of the Detour Belt, which has seen recent exploration successes by Midland Exploration, Wallbridge Mining Company and Probe Metals. In addition, the Company owns the MAX Lithium project, located 4 km southwest of Sayona Mining’s North American Lithium mine.
On behalf of Tarku Resources Ltd.
President and CEO
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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.