Category: news releases

Tarku’s Generates 5.35km of Targets for Drilling its 3As Projects, Quebec

Tarku’s Generates 5.35km of Targets for Drilling its 3As Projects, Quebec

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MONTREAL, May 26, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce that nine high-priority targets, totalling 5.35km in length, have been generated ahead of the maiden drill program at the Apollo Gold Project, following the completion and interpretation of the deep-penetrating and high-resolution IP survey. Apollo is located in the Matagami area, Eeyou Istchee James Bay, Quebec.

  • Nine (9) high-priority Target Zones, covering a total strike length of 5.35km generated by independent consultant
  • Targets are located on chargeable anomalous zones
  • Two of these Targets, AZ-1 and AZ-4, are located on known gold occurrences defined by historic drilling
  • Historic drilling was on the edge of these anomalies and failed to test the most prospective areas
  • Individual targets vary in length from 400 meter to 1,000 meters
  • Independent consultant has proposed 13 drill holes over these nine targets
  • Drilling to commence in the Fall of 2022

Julien Davy, President and CEO of Tarku Resources said: “This is an exciting time for Tarku and our shareholders, the scale and number of the targets generated by this work program at the Apollo Project has surpassed all our expectations. We will now refine the proposed drill holes ahead of commencing a maiden drill programme at the 3As Projects.”

The IP Survey Interpretation:

The 14.5-line km survey has been conducted by Simcoe Geoscience, using their Alpha IPTM system. Eight (8) lines were completed in 22 working days over the priority area of the Rivière Waswanipi Shear Zone, which Tarku interprets as being the east extension the regional Sunday Lake Fault, host of the Detour Lake Gold Mine or the Kirkland Lake Gold Mining Camp. The results of this Induced Polarization (IP) survey were combined with the existing IP and magnetic data to ensure the maximum amount of information could be used in the targeting process for our maiden drill program at the 3As Projects.

The resistivity data has defined a number of local structures and geological features, including a series of ENE-WSW dykes and NW-SE oriented faults. The chargeability data has defined nine areas of potential sulphide mineralization covering a total strike length of 5.35km, that appear to be associated with these the dykes and faults (Figure 1). These targets are near-surface, up to 400 meters below the surface (Figure 2).

The targets generated fall into two broad groups:

Strong IP responses associated with low/moderate resistivity values. The responses in this group are interpreted to be consistent with sulphide mineralization, usually offset from structures. The anomalies in this group are potentially associated with gold mineralization hosted by porphyritic and alkaline rocks at the edge of magnetic highs.

Strong IP responses associated with high/moderate resistivity values. The responses in this group are interpreted to be consistent with gold mineralization within shear zones and porphyritic dykes bearing anomalous gold values

Figure 1: Anomaly Interpretation Map over the Apollo Project with Proposed Drill Holes

Figure 1: Anomaly Interpretation Map over the Apollo Project with Proposed Drill Holes

Figure 2: Chargeability Anomalies at the Apollo Project with Proposed Drill Holes

Figure 2: Chargeability Anomalies at the Apollo Project with Proposed Drill Holes

About the 3As project

The Apollo Project is part of the 100%-owned by Tarku 3As project (Apollo, Atlas, Admiral) and is located adjacent and to the north of its Atlas Project. It consists of 69 claims (3,775 ha) centred on the Rivière Waswanipi ductile shear zone. This regional structure is characterized by the presence of alkaline rocks, polygenic conglomerates (Timiskaming type) and porphyry intrusions bearing anomalous gold values on the order of hundreds of parts per billion (GM 52712). This corridor, altered to carbonate-hematite-magnetite, contains the Rivière Waswanipi gold showing (2.36 g/t Au over 1 m; GM 51193) hosted in a porphyritic dyke and tuffs altered to pyrite-fuchsite, as well as several porphyry intrusions bearing anomalous gold values on the order of 0.1 to 0.9 g/t Au over 0.6 to 5 m (GM 52712).

Collectively, these metallotects present a favourable setting for orogenic gold mineralization associated with alkaline rocks and porphyry intrusions, which Tarku interprets as being similar to those of the regional Sunday Lake Fault, host of the Detour Lake mine or the Kirkland Lake Mining Camp. Tarku cautions that the mineralization at the Detour Lake mine or the Kirkland Lake mining Camp may not be indicative of the mineralization that may be identified on the Company’s Matagami projects and is used as a conceptual exploration model only.

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.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

Tarku is an exploration company focused on new discoveries 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 protentional for similar CRD Deposits comparable to the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. Tarku is currently planning a deep-penetrating and high-resolution geophysical survey over the priority targets, with a minimum of 5,000-meter drill program to follow this year.

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. The Detour Belt has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. Tarku has now commenced a deep-penetration and high-definition IP geophysical survey over priority area on Atlas and Apollo Projects, and a minimum of 3,000-meter drill program is planned to follow this during 2022.

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.

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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Tarku announces results from its Annual General and Special Meeting

Tarku announces results from its Annual General and Special Meeting

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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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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.

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.

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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Tarku Engages GoldSpot Discoveries for Target Generation at Silver Strike

Tarku Engages GoldSpot Discoveries for Target Generation at Silver Strike

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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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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.

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.

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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Tarku Closes $638,455 private placement financing

Tarku Closes $638,455 private placement financing

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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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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

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.

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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Tarku to acquire 100% of Silver Strike Project, Arizona

Tarku to acquire 100% of Silver Strike Project, Arizona

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Highlights:

  • 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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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

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.

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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Tarku announces the Grant of Stock Options

Tarku announces the Grant of Stock Options

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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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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.

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.

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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Tarku’s Year in Review and 2022 Exploration and Development Plans

Tarku’s Year in Review and 2022 Exploration and Development Plans

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2021 Achievements in Arizona:

  • 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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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.

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.

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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Tarku Closes $750,000 Private Placement Financing

Tarku Closes $750,000 Private Placement Financing

private placementDownload PDF version   |   View all documents on Sedar

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.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK – OTCBQ: TRKUF)

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.

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

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.

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Tarku Announces Completion of Initial Drilling Program at Silver Strike with Confirmation of a Significant Silver-Copper-Lead-Zinc Rich CRD System

Tarku Announces Completion of Initial Drilling Program at Silver Strike with Confirmation of a Significant Silver-Copper-Lead-Zinc Rich CRD System

Download PDF version   |   View all documents on Sedar

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 #TargetFrom (m)To (m)Width (2) (m)Ag(g/t)Au(g/t)Cu(%)Pb(%)Zn(%)Ag Eq (1)(g/t)Pb+Zn Comb.(%)Mn(%)
SS21-001Lucky Cuss3,018,315,240,03

60,27
SS21-002Lucky Cuss0,03,03,0120,260,090,270,49630,760,26
SS21-003Luck Sure47,248,81,5380,23

0,190,09620,281,02
SS21-004East Side67,173,26,1136

0,09

1380,092,68
 incl,70,173,23,0214  0,09 2160,093,87
SS21-004East Side80,886,96,124

240,79
 incl,82,386,94,6280,190,25410,440,83
SS21-005East Side123,44128,024,6240,300,060,200,25660,450,33

incl,123,4126,53,0220,390,100,220,33770,550,44
SS21-006Lucky Cuss56,467,110,7200,340,020,200,16570,360,46
 incl,56,459,43,0170,750,060,390,361000,750,36
SS21-007Lucky Cuss4,622,918,3990,860,050,610,471981,090,55
SS21-007incl,6,19,13,03973,850,202,732,708555,430,84
 incl,7,69,11,57206,440,345,085,051 51510,131,11
SS21-007Lucky Cuss15,222,97,6550,370,040,080,03890,110,33
 incl,15,216,81,5801,030,180,070,061800,140,50
SS21-007Lucky Cuss74,776,21,52030,310,190,260,382640,644,79
SS21-008Bunker Hill51,853,31,5

0,200,10 0,300,45
SS21-009Bunker Hill10,716,86,113

0,030,01140,040,12
 incl,13,715,21,5240,08 0,110,05340,160,25
SS21-009Bunker Hill74,776,21,5670,300,071,280,551441,822,61
SS21-010Bunker Hill96,097,51,5110,07

0,290,14270,420,85
SS21-011Ground Hog64,070,16,1110,030,000,100,03170,130,16
SS21-012Ground Hog71,689,918,3310,150,000,510,19610,701,60

incl.73,274,71,5 2040,380,000,900,282621,190,35
SS21-013Ground Hog

No significant results 
SS21-014Ground HogNo significant results
SS21-015Ground Hog134,1141,77,6130,320,000,130,26480,382,08
SS21-016Ground Hog76,277,71,5260,470,000,590,36860,945,13
SS21-017Ground HogNo significant results
SS21-018West RattlesnakeAbandoned hole
SS21-019West RattlesnakeNo significant results
SS21-020Ace in the Hole95,0120,025,090,090,000,100,31280,410,65
SS21-021Ace in the Hole44,247,23,0110,000,000,050,47270,530,63
SS21-022Solstice22,929,06,1450,050,000,100,21580,311,30
SS21-022Solstice103,6105,21,5960,410,000,130,491450,625,66
SS21-023Solstice24,425,91,5400,100,000,220,19590,422,19
  1. 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.

  2. 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.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

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.

Tarku Contact Information:

Email:

Website: www.tarkuresources.com

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.

 

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Tarku Reports High Grade Drilling Results of up to 1,515 g/t Ag Equivalent over 1.5 m at Silver Strike in Arizona

Tarku Reports High Grade Drilling Results of up to 1,515 g/t Ag Equivalent over 1.5 m at Silver Strike in Arizona

Download PDF version   |   View all documents on Sedar

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 meters grading 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).

Figure 1: Location Map – News Release June 3rd, 2021 (See full size Figure 1)

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.

HoleTargetFrom (m)To (m)Width (2)(m)Ag(g/t)Au(g/t)Cu(%)Pb(%)Zn(%)Ag Eq (1)(g/t)Mn(%)
SS21-001Lucky Cuss3.018.315.240.0360.27
SS21-002Lucky Cuss0.03.03.0120.260.090.270.49630.26
SS21-003Luck Sure47.248.81.5380.230.190.09621.02
SS21-004East Side67.173.26.11360.091382.68
incl.70.173.23.02140.092163.87
SS21-004East Side80.886.96.124240.79
incl.82.386.94.6280.190.25410.83
SS21-005East Side123.44128.024.6240.300.060.200.25660.33
incl.123.4126.53.0220.390.100.220.33770.44
SS21-006Lucky Cuss56.467.110.7200.340.020.200.16570.46
incl.56.459.43.0170.750.060.390.361000.36
SS21-007Lucky Cuss4.622.918.3990.860.050.610.471980.55
incl.6.19.13.03973.850.202.732.708550.84
incl.7.69.11.57206.440.345.085.051 5151.11
SS21-007Lucky Cuss15.222.97.6550.370.040.080.03890.33
incl.15.216.81.5801.030.180.070.061800.50
SS21-007Lucky Cuss74.776.21.52030.310.190.260.382644.79
SS21-008Bunker Hill51.853.31.50.200.10 0.45
SS21-009Bunker Hill10.716.86.1130.030.01140.12
incl.13.715.21.5240.080.110.05340.25
SS21-009Bunker Hill74.776.21.5670.300.071.280.551442.61
SS21-010Bunker Hill96.097.51.5110.070.290.14270.85
SS21-011Ground HogAssays pending
SS21-012Ground HogAssays pending
SS21-013Ground HogAssays pending
SS21-014Ground HogAssays pending
SS21-015Ground HogAssays pending
SS21-016Ground HogAssays pending
SS21-017Ground HogAssays pending
SS21-018SunsetAssays pending
SS21-019SunsetAssays pending
SS21-020Ace in the HoleAssays pending
SS21-021Ace in the HoleAssays pending
SS21-022SolsticeAssays pending
SS21-023SolsticeAssays 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

HoleTargetAzimuthDipLength drilled (ft)Length drilled (m)Coord_X (utmZ12N)Coord_Y (utmZ12N)
SS21-001Lucky Cuss13550400121.9587 6653 507 708
SS21-002Lucky Cuss9550439133.8587 6703 507 713
SS21-003Luck Sure9550525160.0587 5163 507 262
SS21-004East Side955029289.0587 6143 507 537
SS21-005East Side9556435132.6587 6143 507 537
SS21-006Lucky Cuss955522067.1587 6703 507 711
SS21-007Lucky Cuss959032599.1587 6653 507 710
SS21-008Bunker Hill32550440134.1588 8413 506 511
SS21-009Bunker Hill3255025577.7588 7323 506 481
SS21-010Bunker Hill32560400121.9588 7323 506 481
SS21-011Ground Hog1405031596.0586 0053 504 576
SS21-012Ground Hog14060400121.9586 0063 504 577
SS21-013Ground Hog13550550167.6586 1243 504 716
SS21-014Ground Hog14560360109.7586 1223 504 719
SS21-015Ground Hog13550580176.8586 0613 504 636
SS21-016Ground Hog1356032097.5586 0683 504 638
SS21-017Ground Hog21260440134.1585 9973 504 578
SS21-018West Rattlesnake14055435132.6586 2913 506 430
SS21-019West Rattlesnake1405527082.3585 4723 505 915
SS21-020Ace in the Hole1405516048.8585 9503 507 778
SS21-021Ace in the Hole14080340103.6585 9493 507 778
SS21-022Solstice14555440134.1585 6163 507 804
SS21-023Solstice14070580176.8585 6163 507 804
TOTAL8,9212,719.1

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.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

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.

Tarku Contact Information:

Email:

Website: www.tarkuresources.com

Suivez @TarkuResources sur LinkedIn, Facebook, Twitter et 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.

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