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.
MONTREAL, May 26th, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the "Company" or "Tarku") announces that its common shares have 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".
The OTCQB is a US trading platform that is operated by the OTC Markets Group in New York providing access to the significant US investor base. Tarku's OTCQB information can be found on the OTC Markets website: https://www.otcmarkets.com/stock/trkuf/overview.
The Frankfurt Stock Exchange is the world's third largest exchange. There are over 3,000 International companies listed on the Frankfurt Exchange and the investors trading on the Frankfurt Stock Exchange represent 35% of the world's investment capital. Tarku's FRA information can be found on: https://www.boerse-frankfurt.de/equity/tarku-resources-ltd.
Julien Davy, President and CEO of Tarku, stated: “Both the listing on the Frankfurt Stock Exchange in Europe and on the OTCQB in the US provides us with an excellent opportunity to expand our investor base beyond Canada and potentially increase liquidity. We are now able to offer our current and future international US and European investors easier access, trading, and disclosure in a strong precious metals market”.
With the commencement of trading on the OTCQB, Tarku will now be available for trading on three marketplaces around the world including the Toronto Stock Venture Exchange ("TSX.V").
Clarification on the Silver Strike Transaction
Following TSXV recommendations, the Company wishes to clarify the information provided in its press release dated May 6th, 2021 regarding the Silver Strike Transaction. The first paragraph of the Update on the Silver strike Transaction should be read as follows:
On October 12, 2020, Tarku signed the final option agreement with arm’s length parties (the “Vendors”) under which Tarku can earn up to 75% interest over 3 years in 1,250 hectares of unpatented mineral claims (the “Unpatented Claims Agreement”) in the Tombstone mining District, Arizona. Pursuant to the agreement, to earn the 75% interest in the Property, the Company shall issue 3,000,000 common shares (issued), pay US$ 175,000 yearly for three (3) years (of which a minimum of US$50,000 will be a cash payment and US$125,000 will be paid either in shares or in cash at the Company’s discretion), and incur up to US$3 million in project expenditures to earn the interest.
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.
Tarku Provides Highlights of its Q & A Conference Call with President & CEO Julien Davy
MONTREAL, May 14, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK) (the “Company” or “Tarku”) provides investor update and highlights on its recent Q & A regarding the companies Silver Strike Project in Arizona.
During this call, the President & CEO Julien Davy commented on the company’s objectives and gave insight into the recent exploration results. The conference call was held in English over Zoom, and Mr. Davy replied to questions submitted by investors registered with the company’s newsletter. The highlighted portion of this conversation is available below:
Question 1: Mr. Davy could you give us a brief overview of Tarku Resources and its mission?
Answer 1: Tarku is a Canadian-based junior exploration company with a focus on making substantial discoveries through the acquisition and exploration of highly prospective projects. Our current focus is on silver, gold and other base metal projects of high merit in mineral-rich Canadian and US jurisdictions.
Discoveries in mineral exploration aren’t trivial to come by but what differentiates Tarku from its peers is its industry-leading team’s innovative exploration techniques throughout various areas. We look for geologically fertile ground, not only on its historical results, but also for its underexplored and or overlooked potential.
Good exploration projects combined with a favourable capital structure are what gives Tarku, in today’s bull market, the right strategy to create value for the company and its shareholders.
Question 2: What current project best fits this exploration approach?
Answer 2: Tarku has several projects in its portfolios. We have excellent early stages projects in both Quebec and Arizona; however, Silver Strike Project located in the famous Tombstone District in Arizona merits attention. Arizona is in the top 10 most attractive mining jurisdictions in the world according to the last Fraser Institute report.
The Tombstone District is one of the earliest silver mining areas in the western United States that produced numerous silver mines in 1877. During the 38 years of production in the early 1900’s of this area, 32M oz of Silver was produced on small by hand productions, averaging 26 oz/t Ag, from surface to a maximum depth of 200m. they were typically running after high-grade Silver veins of 1 to 2 ft wide because Silver was around 1$/oz at that time. Today, Silver is trading over 27$/oz. Tarku has already located several targets and we have started our 10,000 ft. drilling program to test these targets.
Question 3: We noticed your most recent news release had some impressive early results. The market didn’t seem to react too much. Can you clarify what exactly the results showed?
Answer 3: The results announced were very good news for us!
These were results of the first 5 holes on our 20-hole program and they came back with the same historical high grades. In this drilling program, we are looking for a silver vein-type deposits, which are typically 1 or 2 feet in width and typically reported to average 800g/t Ag (26oz/t Ag) or more.
Inhole #004 we announced the intersection of 10.7 m grading 79.8 g/t Ag, including 213.5 g/t Ag and 3.9% Mn over 3.0 m, showing the high-grade potential of the Lucky Cuss veining system and showing similar results as they used to previously get historically.
In the other holes, we also received encouraging results showing we intercepted the structures with wide halos of lower grade mineralization and specific alterations showing we are very close to target zones. These discrepancies in the values could be typical of veining systems.
Question 4: For a project like Silver Strike, what result is considered good and economical?
Answer 4: To be consider as a good project, there are many factors to be taken under consideration, but at the end of the day, it usually comes down to volume and grades. For example, geological environment affects the metallurgy, that affects the recoveries of mineralized zones. Width and depth of the zones are also important and of course the volume and the grades are the most important criteria.
There are a number of active silver mines in the same geological environment as Silver Strike and we also know that the zones are starting at shallow depths, with is also good. We see producing mines in the US starting with reserves of 5-6 million oz Ag and averaging grades of 200-250g/t Ag. As mentioned, our results shows that we are beginning to intersect similar g/t numbers at Silver Strike.
And the beauty with the Silver Strike project is that we see other metals associated with Silver. It is still early in terms of understanding their source, but we have traces of Copper, Zinc, Lead and Gold, on our large land package and those elements could potentially add a lot of value in the company’s future economic evaluation.
Question 5: Can we expect additional more results soon?
Answer 5: Yes, most certainly. We received 20% of the total results of our program and the drilling continues as we speak. We should finish our drilling program by the end of May and have all the results within 5 to 6 after that. This is the first drill program on the project in a long time. This project will require additional drilling to understand where the mineralized zones are exactly, but we are confident that this first overview or picture of the project gives us sufficient data for the next steps.
Question 6: What are the next steps?
Answer 6: We know that we have high-grade silver veins, and with the evidence of Copper, Lead and Zinc results received so far, it is letting us think that what is now geologically understood is just the tip of the iceberg of a much larger potential porphyry system that brought other base metals together.
For us, it’s the start of a systematic exploration program on the project. We’ll use simultaneously 2 levels of exploration in our approach: we’ll first use the results of this ongoing drill program to define where the prioritised zones should be worked for resource estimates, and at the same time we need to work regionally with geophysical and geochemistry surveys to better understand the deposit model we have on the project.
Our goal is to have a core drilling rig operating during the fall season on the project. We have sufficient targets and areas to have the rig running nonstop, allowing us to provide news updates more often.
Question 7: Can you give us more detail regarding Tarku’s Capital Structure?
Answer 7: Tarku currently is listed on both the TSX Venture under the symbol TKU and on the Frankfurt exchange under 7TK. We have also applied to be on the OTCBQ in United States.Being listed in Europe and in the US will give us an excellent opportunity to expand our investor base beyond Canada.
Our capital structure is quite attractive as we now have 56 million shares outstanding that is relatively tightly held. Management holds about 10%, we have several strategic major shareholders which represents 30% of the float. These shareholders include Mr. Eric Sprott and his group whose attention was caught by the potential of discovery on our Silver Strike Project.
About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK)
Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions as Quebec and Arizona. In Quebec, Tarku owns 100% on 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, May 6th, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK) (the “Company” or “Tarku”) is pleased to announce initial results from its 2021 drilling program on the high-grade Silver Strike Project, Tombstone District, Arizona (the “Project”). Significant results include 213.5 g/t Ag and 3.9% Mn over 3.0 m in hole SS21-004 targeting north-south structure located in the historic East Side mine area.
The first phase of 10 drill holes, completed on April 15th and totaling 3,701 feet, targeted the Silver vein system located in the historical mine areas known as the Lucky Cuss, Luck Sure, East Side and the Bunker Hill historic mines areas. The second phase of the planned 10,000-foot RC drill program, recommenced on May 5th, will put emphases on the Ground Hog, Sunset, Ace-in-the-Hole, and the Solstice historic mine areas. These holes will target a regional structure known to carry silver, manganese, copper, lead and zinc mineralisation. They will be located between 2-5 km away from the Tombstone historic mines center (see Image 1).
Julien Davy, President and CEO of Tarku, stated: “213 g/t Ag over 3 meters is a great start for a first systematic exploration program on the project since 1930! Although we did not hit all expected mine structures in those first 5 holes, we are very encouraged by the results obtained to date and what maybe found in the next 17 drill holes. It is a learning process for Tarku, and we still have 3/4 of our drilling results to come. We are learning about the complexity of the mineralized vein structures found at the Project, as they are not planar structures as historically reported. The presence of wide near-surface manganese and lead-zinc halos are strong indicators of a manganese-oxide silver replacement horizon. We are now looking forward to building further the knowledge of the Project as drilling continues.”
The results received to date include the first 5 holes (SS21-001 to SS21-005) targeting the north-south structures in the Lucky Cuss area. Sampling methodology includes taking of 5 ft long samples and all results represent an average grade over 5 ft. With holes SS21-001 and SS21-002, we learned that the targeted Lucky Cuss veining structure is located further westward than expected because the collars entered directly into wide low-grade Ag and Mn halos. In hole SS21-003, we intersected another north-south sub-parallel structure returning 37.5 g/t Ag and 1.0% Mn over 1.5 m. Holes SS21-004 and SS21-005 targeted the East Side area, located 250 m south of the previous holes, and that is now interpretated to be along the same Lucky Cuss structure. Hole SS21-004 intersected an interesting 10.7 m grading 79.8 g/t Ag and 1.8% Mn, including 213.5 g/t Ag and 3.9% Mn over 3.0 m, showing the high-grade potential of the Lucky Cuss veining system.
Bernard Lapointe, Chairman of Tarku, stated: “This new and impressive land package may have contained some 167 historic mining sites, but very little modern and documented exploration work has been carried out on the Property. These initial and encouraging results announced today warrant us to continuing our work to assess the full potential of the Tombstone area, which experiencing a recent exploration resurgence by Tarku and other juniors.”
Figure 1: Location Map – News Release May 6, 2021
As shown in Table 1, those holes allow us to identify wide mineralized zones with lower grade material.These results appear to be adjacent to the historical high-grade silver veins, potentially defining a larger epithermal system.
Based on the results to date, the Company intends to complete the remaining 1,600 m of RC drilling (6,600 ft) at Silver Strike by June 2021, covering the Ground Hog, Sunset, Ace-in-the-Hole, and the Solstice areas. With all results in hand, Tarku will be a in good position to plan the future exploration programs that will encompass soil geochemistry, geophysics surveys, and further major drill programs.
IMPORTANTLY, the above projected exploration activities are subject to Covid-19 restrictions in Arizona. While the Company’s recent work programs have been relatively unimpeded, there is a risk that tighter restrictions may impact the Company’s ability to conduct fieldwork.
Drilling Sample Method and Quality Assurance / Quality Control
The first phase (3,701 ft) was conducted by Major Drilling of Salt Lake City, Utah.Drill samples were collected by reverse circulation drilling using a face sampling, centre return, downhole hammer that collects rock samples directly from the drill face, thereby reducing downhole contamination. Each sample was collected 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. Samples collected varied in weight from 15-20 kilograms.
Shipping of samples, to the ALS Minerals prep lab facility in Tucson, AZ, involved a direct chain of custody (CoC) from the drill site to the ALS minerals transport truck and then directly to the prep lab.CoC forms are maintained at each change of custody – in this case from the locked storage area at site direct to the lab’s transport truck.
At the prep lab, each sample is then crushed to greater than 70% passing -2mm (10 mesh), and then a Boyd rotary split of 1 kilogram is pulverized to greater than 85% passing 75 microns (200 mesh). The sample is then treated with aqua regia and analyzed by ICP-MS for 51 elements including Silver (Ag), Copper (Cu), Lead (Pb), Zinc (Zn) and Gold (Au).Note that the Gold analysis by this method is semi-quantitative due to the small sample size used.
Overlimit samples for gold and silver are analyzed by 30g Fire assay with a gravimetric finish.Overlimit samples for copper, lead, manganese and zinc are treated with aqua regia and analyzed by ICP-OES (Inductively Coupled Plasma Optical Emission Spectroscopy).
Quality Assurance / Quality Control (QA/QC) samples included the use of field duplicates, blank material samples, and certified reference materials (CRM) for Au, Ag, and Cu.QA/QC samples were controlled by Tarku field staff at all-times. Field duplicates were collected as the second sample from the drill cyclone and made up 5% of the sample stream.Blank material included pure marble chips from a commercial source and made up 2.5% of the sample stream. CRMs made up 2.5% of the sample stream and were obtained from Shea-Clark Smith of Reno, NV. QA/QC additions to the sample stream total an additional 10% of the samples for analysis.
Analysis of the QA/QC materials are conducted as soon as analytical results are received.Statistically identified failures will be brought to the attention of ALS Minerals for re-testing.
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.
Update on the Silver Strike Transaction
On October 12, 2020, Tarku signed the final option agreement with arm’s length parties (the “Vendors”) under which Tarku can earn up to 75% interest over 3 years in 1,250 hectares of unpatented mineral claims (the “Unpatented Claims Agreement”) in the Tombstone mining District, Arizona. Pursuant to the agreement, to earn the 75% interest in the Property, the Company shall issue 3,000,000 common shares (issued), pay US$ 175,000 (of which a minimum of US$50,000 will be a cash payment and US$125,000 will be paid either in shares or in cash at the Company’s discretion), and incur up to US$3 million in project expenditures to earn the interest, as follows:
Tarku will acquire 25% of the Property after spending US$ 1,000,000 in exploration expenses within the first year of earn-in period (in progress),
Tarku will acquire an additional 26% (total of 51%) of the Property after spending an additional US$ 1,000,000 in exploration expenses and the production of a 43-101 report on the Property within the first 2 years of earn-in period,
Tarku will acquire an additional 24% (total of 75%) of the Property after spending an additional US$ 1,000,000 for a cumulative US$ 3,000,000 in exploration expenses within the first 3 years of earn-in period.
At the end of this Earn-in Period, the Vendors and Tarku will become JV partners on the Property, 75% Tarku, 25% the Vendors. Should the Vendors elect to dispose of their remaining interest, Tarku will keep a Right of First Refusal.
In addition, the signing of this agreement, also allows Tarku to acquire additional 33 patented claims in the historical area of Tombstone under agreement between third parties and the Vendors, namely the Rohe, Corkran, and Turner Options (The “Options”). These agreements are separate and independent from the Unpatented Claims Agreement. These Options require various cash payments with a total cost of US$ 700,000. The payments are spread out until July 2025 for the Rohe Option, until October 2021 for the Corkran Option, and July 2023 for the Turner Option. Tarku will also issue 50,000 shares for the Corkran Option. At the end of each Option acquisition, the patented claims will be added to the above Unpatented Claim Agreement to form the 75% Tarku, 25% Vendor JV Partnership.
About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK)
Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions as Quebec and Arizona. In Quebec, Tarku owns 100% on 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, April 1st, 2021. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK) (the “Company” or “Tarku”) is pleased to provide an update on its 2021 drilling program on its high-grade Silver Strike project, Arizona and also releases the latest results up to 778 g/t Ag on the grab samples taken during its December 2020 field visit.
As previously disclosed, the first drilling program of 2021, at the Silver Strike project, is now underway. As of today, 26% of the total 3,000-meters reverse circulation drill has been completed and the samples have been sent to ALS Chemex laboratory in Tucson. Results for those first samples are expected in May 2021. The initial targets tested were the Lucky Cuss, the Luck Sure, the Telephone and the Bunker Hill past mines, which have produced high-grade silver and have been explored only to a maximum depth of 200 m. Further away from the historical mines area, targets to be drilled are on the South West extensions along regional NNE and EW fault systems including the Ground hog, the Sunset, the Ace in the Hole and the Solstice area.
Julien Davy, President and CEO of Tarku, stated: “A first drill program on a new exploration project is always challenging and thrilling. We are on schedule and I am satisfied with the drilling progress. The team on site is efficient and their geological expertise is of great value. The program until now confirmed the alteration encountered is advanced oxidation, similar to that reported in the historical works and is the commonly founded alteration in this Silver type of mineralization. We are looking forward for the first results early May”.
Tarku is also pleased to report new results from the 8 grab samples taken on the Silver Strike project during the December 2020 field visit. The following table summarized all results received:
Description
Ag (g/t)
Au (g/t)
Mn (%)
Cu (%)
Zn (%)
Remark
Randolf Mine
1.0
nill
0.16
0.01
0.03
Previously reported
Solstice Mine
45.0
0.10
2.39
0.01
0.32
Previously reported
Ace in the Hole Mine
35.6
0.04
2.12
0.00
0.62
Previously reported
Ace in the Hole Mine
146.0
0.09
6.07
0.04
0.52
Ground Hog Mine
778.0
0.65
14.65
1.63
0.26
Ground Hog Mine
2 030.0
0.13
> 10.0 *
0.72
5.77
Previously reported
Junietta Mine
8.6
0.14
0.20
0.00
0.03
Junietta Mine
434.0
0.37
16.60
0.09
8.75
* Over limit assay result still pending.
IMPORTANTLY, the above projected exploration activities are subject to Covid-19 restrictions in Arizona. While the Company’s recent work programs have been relatively unimpeded, there is a risk that tighter restrictions may impact the Company’s ability to conduct fieldwork.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.
About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK)
Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions as Quebec and Arizona. In Quebec, Tarku owns 100% on 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.
Tarku announces results from its Annual General and Special Meeting
MONTREAL, March 10th, 2021. Tarku Resources Ltd (TSX-V: TKU, FRA: 7TK) (the “Company” or “Tarku”) is pleased to announce that at its Annual General and Special Meeting held on March 9, 2021, 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, to continue with Davidson & Company LLP. as the independent auditor of the Corporation, the issuance of shares of a convertible debenture (Warrants) which could results in a new Control Person and finally the continuance of the Corporation into the federal jurisdiction of Canada under the Canada Business Corporations Act.
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.
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.
MONTREAL, March 4th, 2021. Tarku Resources Ltd (TSX-V: TKU) (the “Company” or “Tarku”) is pleased to announce that drilling equipment has been mobilized this week to initiate its first drill program on its high-grade Silver Strike project, Arizona.
Located in the famous historical Silver district of Tombstone, Arizona, Tarku’s 3,000-meters reverse circulation drill program will start on March 8, 2021 and will include about 22 holes targeting 5 different areas on the project. Currently, a team is on site to follow and analyse the drill progress as well as to conduct other geological activities including, surface mapping, and additional sampling to enhance understanding of the mineralized zones that are known to be controlled by regional structures. Tarku’ strategy for this first drill program of the project is as follows:
To test various early-stage and advanced targets (about 1,200 meter of drilling): the initial targets to be tested will include the Lucky Cuss, the Luck Sure, the Telephone and the Bunker Hill past mines which have produced high-grade silver and have been explored only to a maximum depth of 200 m. Interpretations to date suggest that those mines have sub-vertical high-grade silver mineralisation ore-shoots that are extending at depth that could repeat themselves along regional structure on their lateral extensions.
To target South West extensions along regional NNE and EW fault systems (about 1,800 meter of drilling) at the Prompter and the Rattlesnake Faults. Targeted areas include the Ground hog, the Sunset, the Ace in the Hole and the Solstice area.
IMPORTANTLY, the above projected exploration activities are subject to Covid-19 restrictions in Arizona. While the Company’s recent work programs have been relatively unimpeded, there is a risk that tighter restrictions may impact the Company’s ability to conduct fieldwork.
Qualified persons
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.
About Tarku Resources Ltd. (TSX.V: TKU)
Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions as Quebec and Arizona. In Quebec, Tarku owns 100% on 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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