Tarku Receives Permits for Drilling its 3As Projects, Quebec
MONTREAL, September 28, 2022. Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce that it has received the required permits for it to commence drilling at the Apollo Gold Project, part of the 3As Projects, located in the Matagami area, Eeyou Istchee James Bay, Quebec.
- Receipt of permits paves the way for drilling to commence in October 2022.
- Initial program of 3,000 to 3,500 meters of diamond drilling planned.
- Drilling to initially test six (6) of the nine (9) high-priority Target Zones defined in the May 26, 2022, release.
- The first six targets will be AZ-1, AZ-2, AZ-4, AZ-5, AZ-6 and AZ-8, but the program may be expanded to test other targets depending on results.
- The nine Target Zones cover a total strike length of 5.35km.
Julien Davy, President and CEO of Tarku Resources said: “While the Apollo Project was drilled historically more to the South, the majority of those holes did not test the recently defined chargeability anomalies. Encouragingly, two historic drill holes were completed on the edges of two of the nine anomalies, and both returned gold bearing intercepts. We now have the opportunity to better understand the geology of the area and to test the most prospective areas of this exciting project and we look forward to reporting the first set of results before the end of the year. The final set of results are expected to be received before the end of Q1 2023.”
About the 3As project
The Apollo Project is part of the 100%-owned, 3 As projects (Apollo, Atlas, Admiral), and is located adjacent and to the north of the Atlas Project. It consists of 69 claims (3,775 ha, or 37.7 km2) centred on the Rivière Waswanipi Shear Zone (RWSZ). Collectively, the 3 As projects consists of 217 claims covering 130 km2 in prolific area.
The 3 As projects were acquire in 2016, as Tarku staked open ground, based on a detailed data compilation exercise in the region, this process also took into account the historical zinc mining district of Matagami (4.6 Mt Zn and 0.494 Mt Cu from 1960 to 2004) and the overlooked potential for gold mineralization.
These studies suggested that the regional shear zone was the eastern extension of the Sunday Lake Fault, which host’s the 15 Moz Au Detour Lake Mine and the Kirkland Lake Mining Camp, which historically produced over 50 million ounces of gold. Similar to the Sunday Lake Fault the RWSZ 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).
Along the same regional structure, other explorers, such as Maple Gold, Balmoral and Midland Exploration, have returned exciting drill results and demonstrated the strong gold potential of the area.
Tarku’s Drilling is targeting orogenic-style gold mineralization, for which drill results of between 0.5 and 1g/t Au over several meters are typical and would be considered very encouraging for the future of this project.
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 surface mapping program, a deep-penetrating and high-resolution geophysical survey over the priority targets, with a minimum of 5,000-meter drill program in the upcoming month.
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. After the last deep-penetration and high-definition IP geophysical survey over Apollo, Tarku is planning a minimum of 3,000-meter drill program during the fall 2022 period.
On behalf of Tarku Resources Ltd
President and CEO
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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.