Confirmation of gold potential at Chateau Fort and update on the Apollo and Atlas projects
SASKATOON, SASKATCHEWAN - Dec. 5, 2017 - Tarku Resources Ltd. (TSX VENTURE:TKU) (the "Company" or "Tarku") is pleased to announce that the gold and base metal discovery potential of its Château Fort Project has been confirmed through mapping work by geologists with the Quebec Ministry of Energy and Natural Resources (MENR). Results demonstrate that the volcanic pile hosting the former Eastmain mine continues eastward onto Tarku's wholly-owned Château Fort Project.
Tarku also announces that a till, humus and rock sampling work on its Apollo and Atlas projects in the Matagami area is now complete and the samples are being analyzed. As previously announced, the aim of this survey was to identify priority areas along the Rivière Waswanipi Shear Zone, which is associated with alkaline rocks, polygenic conglomerates and gold-bearing porphyry intrusions (see the press release of November 2, 2017). The Apollo and Atlas projects are also wholly owned by Tarku.
Potential of the Château Fort Project
The geological survey completed over the course of the summer by the MENR team (Bulletin Géologique: Géologie de la region de l'île Bohier, Beauchamp and Massei, 2017) led to a re-interpretation of the stratigraphy and structural elements of the Upper Eastmain Greenstone Belt (UEGB). The results outlined a favourable zone for mineralization similar to that of the former Eastmain mine (historical production of 118,356 tonnes @ 10.6 g/t Au; Ressources MSV, GM 56083, 1997). This favourable zone (the "Eastmain Mine Zone") covers an area measuring 5 km by 2 km on the Château Fort Project. The work also defined a favourable zone for gold-rich volcanogenic massive sulphide mineralization (the "Monts Otish Exhalite Zone"), which contains pyritic chert and is located 2.7 km east of the Colline du Château Fort showing (3.3 g/t Au; grab sample, MENR, MB 88-16, 1988). Furthermore, a new grab sample collected at the Colline du Château Fort showing by the MENR team yielded a grade of 1.78% Zn, thereby highlighting the polymetallic nature of the area. Tarku cautions that the mineralization at the former Eastmain mine may not be indicative of the mineralization that may be identified on the Château Fort Project.
Exploration work on the Apollo and Atlas projects
Till, humus and rock sampling on the Apollo (Au) and Atlas (Au-Ag-Cu-Zn) projects in the Matagami area was completed in early November. A total of 80 till and humus samples were collected across the project to identify priority areas along the Rivière Waswanipi Shear Zone as well as the most promising structures and contacts over a distance of more than 19 kilometres in a geological setting interpreted by Tarku as similar to the Sunday Lake Deformation Zone, host to the Detour Lake mine. Tarku cautions that the mineralization at the Detour Lake mine may not be indicative of the mineralization that may be identified on the Company's Matagami properties, and is used a conceptual exploration model only.
Historical exploration yielded till samples with gold grains and several grades above 0.5 g/t Au in heavy mineral concentrates, including a value of 4.94 g/t Au (GM 46892; GM 48222). Tarku's samples are currently being analyzed.
About Tarku Resources Ltd (TSX VENTURE:TKU)
Tarku Resources Ltd is an exploration company focused on generating sustainable projects for precious and base metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Tarku holds a 100% interest in all of its projects. Project generation is the foundation of mining development, and Tarku's vision is to generate exploration projects with excellent potential for partners or buyers to build into mining properties. The Company is founded on an experienced management team with a successful track record. The goal of Tarku is to provide success for its shareholders through the implementation of strategic property acquisition, innovative exploration techniques and exploration of fertile ground. Management cautions that past results or discoveries on adjacent or nearby land packages are not necessarily indicative of the results that may be achieved on the Company's properties.
Benoit Lafrance, P.Geo., PhD, exploration manager and director of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the preparation of the technical information in this news release.
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.