Tarku executes definitive agreement securing strategic position in historic Copper Gold Silver Tombstone District, Arizona
MONTREAL, October 22nd , 2020. Tarku Resources Ltd (TSX-V: TKU) (the “Company” or “Tarku”) is pleased to announce the signing of the final agreement with arm’s length parties (the “Vendors”) under which Tarku has an Earn-In interest for up to 75% over 3 years in 1250 hectares of mineral claims in the Tombstone mining District, Arizona (see figures in presentation). This final agreement follows the execution of a letter agreement previously announced and detailed in its October 5, 2020 press release.
Julien Davy, President and CEO of Tarku, stated: "This agreement sets the stage for a significant new opportunity for Tarku shareholders . The more we investigate and uncover information from historical databases and records, the more we see the potential for Tombstone regaining the shine it once had as a major historical Silver district”.
“As evidenced with their most recent press releases, Aztec Minerals (TSXV:AZT) has demonstrated that by applying modern drilling methods Silver mineralization is related to regional fractures mainly oriented NNE-SSW with high-grade Gold and Silver intervals around old mining tunnels and longer intervals of near surface bulk-tonnage. Tarku holds the extensions of those intervals as well as other regional NNE-SSW fractures that encompasses several past high-grade mines”.
“Tarku’s strategy for the Tombstone project area is twofold : first to validate the existence of potential resources of high-grade silver mineralization in the close vicinity of past mines located on our property and secondly, to establishes that the same potential exists on a more regional scale along the extensions of those NNE structures which we also control over 5km in length”.
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the technical information in this news release.
About Tarku Resources Ltd. (TSX.V : TKU)
Tarku is an exploration company focused on making new discoveries. In Quebec, Tarku owns 100% on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, Tarku owns the option to acquire 75% over 3 year on the Silver Tombstone project.
Tarku has a tightly held capital structure with 28,074,036 outstanding shares, of which approximately 80% are owned by 20 insiders and major shareholders.
For more information, please visit the Company’s web site or contact:
Julien Davy, President & CEO
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.