Category: news releases 2024

Download PDF version

MONTREAL, May 14, 2024. Tarku Resources Ltd (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) (the “Company” or “Tarku”) has acquired the Dana Project, a nickel, copper, cobalt, and PGE project, located in Quebec. The Company continues to focus on its flagship projects, including the Three A’s in Quebec and its Silver Strike Project in Arizona but believes the staking of the Dana Project adds significant longer-term value to the company at a minimal cost.

Julien Davy, President and CEO of Tarku Resources, commented “the undervalued nature of exploration companies, relative to metal prices, and the restricted environment for raising capital create many valuable opportunities to gain interests in excellent projects that would otherwise be secured. While we are continuing to focus on our two core projects, adding strategic projects like Dana to the company’s portfolio will add significant value in the longer term.”

The Dana Project, Quebec (copper, nickel, cobalt, PGEs)

Recently acquired through staking, these mining titles located near Lake Manitou, Côte-Nord, Quebec (NTS sheet: 22I14), straddle the border of the well-known Havre-Saint-Pierre (“HSP”) anorthosite complex. The HSP complex is home to the Lac Tio Titanium mine of Rio Tinto, as well as numerous other vanadium, titanium, iron, copper, nickel, cobalt, platinum-group elements (PGEs), and Rare Earth (REE) deposits and showings. Locally, the area is known to contain Ni-Cu (±Co ±PGE) magmatic massive sulfide (MMS) mineralization, and Dana contains several historical surface showings that returned high-grade polymetallic mineralization, including:

4.50% Cu, 1.69% Ni, 0.09% Co and 537 ppb PGE (showing Thierry)

2.36% Cu, 0.37% Ni and 0.10% Co (showing Chauve)

2.84% Cu, 0.53% Ni, 0.12% Co and 1 452 ppb PGE (showing Becassine)

The last work programme completed on the property was in 2017, to follow up on historical showings and a series of EM anomalies. The Grenville Province is known for hosting magmatic Ni-Cu (±Co ±PGE) mineralization at convergent margins, with recent studies highlighting the significance of multi-stage reworking and recycling of sulfide liquid in long-lived magmatic systems for ore genesis (Barnes and Robertson, 2019).

Recent studies have also shown that the probability of finding a Ni-Cu deposit in a Grenvillian environment is strongly correlated with the volume of mafic rocks contained in an intrusion. This correlation is evident at Dana, where a substantial volume of gabbro has been identified to host Ni-Cu occurrences. Despite the significant role faults play in the formation of this type of deposit, they have remained underexplored on the property.

Tarku’s management is confident that the Dana property possesses all the essential elements — drivers, sources, pathways, and traps — to potentially host a magmatic Ni-Cu (±Co ±PGE) deposit. Currently, Tarku is consolidating existing geological information of the Dana area in preparation for an upcoming exploration work program.

The Dana project contains several copper and nickel showings with known values up to 4.5% Cu, 1.69% Ni, and up to 0.47% Co.

Qualified persons

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.

About Tarku

Tarku Resources Ltd. (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) 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.

Additionally, Tarku maintains its exploration efforts across its other 100% owned projects in Quebec, strategically located along regional shear zones and areas with known mineralization in gold, copper, zinc, nickel, or lithium. This comprehensive approach reaffirms the company’s strategy to delineate and develop high-quality mineral resources. With its 25,000 hectares of mining titles in Quebec and its 2,900 hectares in Arizona, Tarku Resources is well-positioned to capitalize on the positive momentum in the commodity sector.

Julien Davy,

President and CEO

Tarku Contact Information:
Email: 
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram and YouTube

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.

Download PDF version

MONTREAL, May 07, 2024. Tarku Resources Ltd (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) (the “Company” or “Tarku”) is pleased to provide an update on its Silver Strike Project in Arizona, one of the two flagship projects of the Company, alongside the Three A’s in Quebec.

• Tarku has completed an analysis of all data sets related to the Silver Strike Project, in conjunction with the results of the recent MAG and radiometric survey.
• This exercise has identified new Silver-Gold (± Copper-Lead-Zinc) targets situated on the trend of existing anomalies.
• Tarku intends to execute a mapping and sampling program in 2024 to further refine these new targets.

Julien Davy, President and CEO of Tarku Resources, commented: “At Tarku Resources, we are incredibly excited about the potential of discoveries on our projects, and our Silver Strike Project is no exception. The famous historic mining district of Tombstone yielded high-grade silver from the surface to a maximum depth of 200m in the early 1900s. Our recent exploration work has demonstrated the geological potential for additional silver, as well as for copper, gold, lead, zinc, and manganese mineralization. Since 2020, Tarku has confirmed high-grade results in three different areas of the project. Furthermore, our latest geophysics program has unveiled new untested anomalies along the trend of previously defined targets, which will be evaluated in the upcoming mapping and sampling ground program.

As we continue to advance our exploration efforts and unlock the full potential of our projects, we believe that Tarku represents a compelling investment opportunity in the mining sector.”

Update on the Silver Strike Project, Arizona (Silver, Gold, Copper, Lead, Zinc, Manganese – 29 km²)

Tarku’s 100% owned Silver Strike Project is situated in the renowned Tombstone Mining District, one of the earliest silver mining regions in the western United States, where 32Moz silver was extracted until the 1970s along with gold, copper, lead, zinc and manganese. It has been reported that by 1890 over half of the total Tombstone district silver production had been extracted and that the actualized value of the total production of the area exceeded 1.5 billion USD. Despite its richness in silver and other base metals, the area has not been systematically explored with a comprehensive modern approach. Over 95% of the historical production occurred within 200 meters from the surface, predominantly from oxide ore minerals, indicating substantial untapped discovery potential.

The property comprises patented claims predominantly within the historical area and unpatented claims on the extensions of the zones.

Tarku’s 23-drill hole program results, announced in August 2021, validated the presence of several high-grade silver veins and structures, along with copper, gold, lead, and zinc mineralization, extending both vertically beyond the untested historical limit of 200 meters and laterally. Additionally, the results indicated the potential existence of a Carbonate Replacement Deposit (“CRD”) System, akin to the nearby Hermosa project in Arizona.

 

Tarku’s Silver Strike Project, Tombstone Area, Arizona

Highlights from Tarku’s surface exploration in 2020 and 2021 adjusted with today’s commodity prices returned:

• 2,489 g/t AgEq or 2,030 g/t silver, 0.13 g/t gold, 0.72% copper and 12.26% lead-zinc combined in a grab sample at Ground Hog
• 1,051 g/t AgEq or 778 g/t silver, 0.65 g/t gold, 1.63% copper and 0.79% lead-zinc combined in a grab sample at Ground Hog
• 943 g/t AgEq or 434 g/t silver, 0.37 g/t gold, 0.09% copper and 15.15% lead-zinc combined in a grab sample at the Junietta Mine

At the Ground Hog Target, work was undertaken to improve the Company’s understanding of the Mantos-type mineralization discovered at the contact between the Nacos and the Bisbee Limestones, during the last drill program.

Highlights from Tarku’s 2021 drill program adjusted with today’s commodity prices returned:

• 1,679 g/t AgEq over 1.5 m or 720 g/t silver, 6.44 g/t gold, 0.34% copper and 10.13% lead-zinc combined (Lucky Cuss) within a 223 g/t AgEq over 18.3 m
• 274 g/t AgEq over 1.5 m or 203 g/t silver, 0.31 g/t gold, 0.19% copper and 0.64% lead-zinc combined (Lucky Cuss),
• 273 g/t AgEq or 204 g/t silver, 0.38 g/t gold and 1.19% lead-zinc combined over 1.5 m (Ground Hog),

At the Lucky Cuss and East Side Targets, work will be focused on defining better and more extensions both at depth and on the lateral extensions.

Highlights from Tarku’s 2022 exploration at Solstice adjusted with today’s commodity prices returned:

• 552.5 g/t Ag Eq, incl. 482 g/t Ag and 1% lead-zinc combined
• 407.3 g/t Ag Eq, incl. 353 g/t Ag and 0.7% lead-zinc combined
• 358.2 g/t Ag Eq, incl. 280 g/t Ag and 1.6% lead-zinc combined
• 354.3 g/t Ag Eq, incl. 187 g/t Ag and 2.3% lead-zinc combined
• 303.1 g/t Ag Eq, incl. 244 g/t Ag and 1.1% lead-zinc combined

According to historical record compilation, the Solstice Mine was intermittently operated from a vertical shaft between 1914 and 1940, yielding 475 tons of ore containing 20,761 ounces of silver, 107 ounces of gold, 841 pounds of copper, and 133,865 pounds of lead. During this period, the primary challenge for historic miners was managing the water table approximately 240 feet below the surface, which presents today’s opportunity for significant mineralization at depth.

At the Solstice Target, efforts have been concentrated on defining the conjugate veining system (oriented at N030 and N090) and the associated enrichment in silver and manganese mineralization resulting from the convergence of the two vein systems. Mineralized zones in this area can extend up to 6 meters in true width. Tarku’s forthcoming phases at the Solstice area will prioritize testing the continuity of ore shoots at depth and confirming the stability of high-grade mineralization values.

The CRD Model

The diverse mineralization observed within the sediments at Lucky Cuss and Ground Hog strongly suggests that the Carbonate Replacement Deposit (CRD) model may be more widespread across the Silver Strike property than initially anticipated, with undiscovered limits. CRD deposits typically manifest as high-temperature carbonate-hosting Ag-Pb-Zn deposits formed by the replacement of sedimentary, often carbonate rock, by metal-bearing solutions near igneous intrusions acting as heat sources. Ore body geometries can vary from chimneys to veins to blanket-like bodies along the bedding plane of the rock, commonly referred to as mantos. These polymetallic replacements/mantos are frequently stratiform wall-rock replacement ore bodies distal to porphyry deposits, such as copper or molybdenum. The presence of abundant manganese on the Silver Strike Project is indicative of this environment and strengthens the potential for a CRD deposit.

This model mirrors what is observed at the Hermosa Project, situated 80 kilometers to the west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. The Hermosa project is home to the Taylor Deposit and shares the same geological age and sediment types, classified as a CRD-style zinc-lead-silver massive sulfide deposit.

Tarku plans to implement a mapping and sampling program in 2024 to investigate the new targets delineated by the recent MAG and radiometric survey.

Qualified persons

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.

About Tarku

Tarku Resources Ltd. (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) 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.

Additionally, Tarku maintains its exploration efforts across its other 100% owned projects in Quebec, strategically located along regional shear zones and areas with known mineralization in gold, copper, zinc, nickel, or lithium. This comprehensive approach reaffirms the company’s strategy to delineate and develop high-quality mineral resources. With its 25,000 hectares of mining titles in Quebec and its 2,900 hectares in Arizona, Tarku Resources is well-positioned to capitalize on the positive momentum in the commodity sector.

On behalf of Tarku Resources Ltd.

Julien Davy,

President and CEO

Tarku Contact Information:
Email: 
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram and YouTube

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.

Download PDF version

MONTREAL, March 12, 2024. Tarku Resources Ltd (TSXV: TKU | FRA: 7TK | OTCQB: TRKUF) (the “Company” or “Tarku”) is delighted to announce its recent acquisitions of promising mineral claims in the Abitibi region, Quebec, solidifying its presence in one of the most esteemed and secure global jurisdictions for mining exploration. While maintaining a steadfast focus on advancing its co-flagship 3As project in Quebec and the Silver Strike project in Arizona, these new claims strategically contribute to Tarku’s commitment to exploring high-quality geological projects.

Tarku now holds 100% ownership of nine distinct exploration projects in Quebec, encompassing 19,701 hectares (197 km2) as well as maintaining its full ownership of the Silver Strike project in Arizona, providing shareholders exposure to a diverse range of commodities such as gold, silver, copper, zinc, lithium, manganese, and nickel. These assets are located in mining-friendly jurisdictions, and some of them involve critical and strategic minerals.

Julien Davy, President and CEO of Tarku Resources, expressed enthusiasm about the potential of the Abitibi Greenstone Belt, stating: “The Abitibi Greenstone Belt is undeniably one of the most prospective geological regions globally. We are excited about the prospectivity of this region, which happens to be in our backyard. The current market conditions have presented opportunities to acquire additional land positions at low costs, prompting us to wisely expand through staking and acquisition efforts”.

The Calypso Project

Tarku’s Calypso project, entirely owned by the company, is situated in the north-central part of the Abitibi Greenstone Belt (figure1). It is located between NTS Sheets 32F12 and 32F11, a mere 20 km south of Matagami, Quebec, and encompasses 42 claims, totaling 2,346 hectares. Positioned along the Casa Bérardi-Douay-Cameron regional deformation zone, the Calypso project spans a segment of this extensive east-west regional structure, stretching over 150 km and characterized by a network of interconnected shear zones. It covers 6 kilometers along the strike of the Taibi Group, host to the Vezza gold deposit to the west, the Discovery deposit to the east, and the Douay and Douay West areas located just 7 kilometres to the southeast.

Tarku’s compilation reveals little exploration work on the property, primarily due to glacial coverage. Recent exploration efforts by neighboring companies, such as Nuvau Minerals Corp, Midland Exploration, and O3 Mining, underscore the strong gold potential of the Calypso project and its location. Tarku plans to commence exploration activities on the Calypso project in 2024.

The Barmat Project

Tarku’s Barmat project, also fully owned by the company, is located in the southern part of the Abitibi Greenstone Belt, within NTS Sheets 32C05, only 7km northeast of the Barraute municipality and 40km north of Val-d’Or, Quebec (figure1). Encompassing 12 claims totaling 514 hectares, the project is adjacent and along the Abcourt-Barvue Silver-Zinc deposit. The Abcourt-Barvue Silver-Zinc deposit updated its MI feasibility study in 2019, revealing proven and probable reserves of 8.07 million tonnes with a grade of 51.79 g/t of silver and 2.83% zinc for a 13-year life mine open-pit and underground operations (Source: Sedar).

Qualified persons

Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku Resources Ltd., is Tarku’s “Qualified Person” under National Instrument 43-101 on standards of disclosure for mineral projects, has reviewed and approved the scientific and technical information in this press release for accuracy and compliance with NI 43-101.

Location of Tarku’s project in the Abitibi region

About Tarku

Tarku Resources Ltd. (TSXV: TKU | FRA: 7TK | OTCBQ: TRKUF) is a mining exploration company dedicated to advancing new discoveries through the application of modern techniques in promising mining jurisdictions, including Quebec and Arizona.

In Arizona, Tarku holds 100% ownership of the 29 km2 Silver Strike project situated within the renowned Tombstone District. Management interprets Silver Strike to have the potential for Carbonate Replacement Deposits (CRD) similar to those of the Hermosa project, located 80 km west in Santa Cruz County, Arizona. South32 acquired the Hermosa project for USD 1.8 billion in 2018.

In Quebec, Tarku possesses 100% ownership of over 19,700 hectares of prospective claims, including the ‘Three A’s‘ projects (Apollo, Admiral, and Atlas) along the Sunday Lake Regional Fault, east of Matagami. Management interprets this area as the eastern extension of the Detour Belt, which has witnessed recent exploration successes by companies like Kenorland Minerals, Midland Exploration, Wallbridge Mining Company, and Probe Metals. Additionally, 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.

Julien Davy,

President and CEO

Tarku Contact Information:
Email: 
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram and YouTube

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.