Tartisan Nickel Corp. Completes Acquisition of Sill Lake Silver-Lead Property, Sault Ste. Marie Mining Division, Ontario
Monday, June 17, 2019 6:00 AM
TORONTO, CANADA / ACCESSWIRE / June 17, 2019 / Tartisan Nickel Corp. (CSE: TN, US-OTC-TTSRF FSE: A2D) ("Tartisan", or the "Company") is pleased to announce that the Company has closed the acquisition of the past-producing Sill Lake Silver-Lead property, Vankoughnet Twp, Sault Ste. Marie Mining Division, Ontario.
The Sill Lake acquisition includes 13 single-cell mining claims and four boundary-cell claims that total some 372.8 hectares. Lead-zinc-silver mineralization was discovered at Sill Lake in 1892; since that time sufficient works have been completed so as to define a (historical) measured and indicated resource of 112,751 tonnes of 134 g/t silver, 0.62% lead, and 0.21% zinc. A 60 g/t cutoff for silver was used, with no cutoff used for base metals content. Some 7,000 tonnes was exploited from the Sill Lake Project to produce a lead-silver concentrate which was sold to nearby smelters.
Consideration for the acquisition paid to the Vendor, Klondike Bay Resources, comprised a cash payment of C$15,000; the issuance of 700,000 shares and a 2% net smelter royalty. One percent of the net smelter return may be repurchased by Tartisan Nickel Corp for $250,000.00.
Tartisan CEO Mr. Mark Appleby noted, "The Sill Lake Silver-Lead Deposit joins the Kenbridge Nickel-Copper-Cobalt Deposit in the Tartisan portfolio as brownfield development projects with excellent greenfield exploration potential."
Tartisan will now move to visit the Sill Lake Silver-Lead Project to take confirmation samples of exposed vein material as well as surface structural mapping and evaluation of surface infrastructure. In addition, the Company is reviewing an opportunity to evaluate surface and shallow mineralization across the entire Sill Lake property as part of a satellite-based spectral analysis targeted to silver-lead mineralization.
About Tartisan Nickel Corp.
Tartisan Nickel Corp is a Canadian mineral exploration and development company which owns 100% of the Kenbridge Nickel-Copper-Cobalt Project in Ontario holding historical resources of 97.8 million lbs of nickel and 47 million pounds of copper. As well, the Company owns 100% of the Sill Lake Silver-Lead Deposit, holding historical resources of 0.485 million ounces of silver; 1.5 million lbs of lead, and 0.5 million lbs of zinc.
In addition, the Company owns a 100% stake in the Don Pancho Zinc-Lead-Silver Project in Peru just 9 km from Trevali's Santander mine and owns a 100% stake in the Ichuna Copper-Silver Project, also in Peru, contiguous to Buenaventura"s San Gabriel property. Tartisan also owns a significant equity stake (6 MM shares and 3 MM full warrants at 40c) in Eloro Resources Ltd, which is exploring the low-sulphidation epithermal La Victoria Gold/Silver Project in Ancash, Peru.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE:TN, US-OTC-TTSRF, FSE A2D). Currently, there are 100,403,550 shares outstanding (103,103,550 fully diluted).
For further information, please contact Mr. D. Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 ([email protected]). Additional information about Tartisan can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
Jim Steel MBA P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
SOURCE: Tartisan Nickel Corp.