VANCOUVER, BC / ACCESSWIRE / April 15, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company") (CSE:TUSK)(Frankfurt: 0NB)(OTC PINK:BTKRF) is pleased to announce the acquisition of two Palladium/Platinum Group Element (PGE) properties in Quebec. The properties were acquired directly by the Company through the Quebec staking process. Both properties were staked to cover geological and geophysical features that are interpreted as being conducive to PGE deposition.
The first property acquired is The PG Highway Project which is comprised of 11 claims totalling 601.11 hectares. The claims are located along Highway 397, 22 Km north of Val d'Or, Quebec. The PG Highway property adjoins claims that cover the Lynx and La Tour PGE mineral showings. The Lynx showing is located approximately 3.5 Km north of the PG Highway property. At the Lynx, selected samples returned grades up to 1,895 ppb combined platinum (Pt) and palladium (Pd). The two best results returned 1,365 ppb Pd and 530 ppb Pt (sample 828583) and 1050 ppb Pd and 340 ppb Pt (sample 828575) (assessment report GM 61266). The La Tour showing is located 300 metres east of the Lynx. At the La Tour showing, samples returned up to 5,139 ppb Pd and 1589 ppb Pt (GM 60468 and GM 61303). The reader is cautioned that results obtained on adjoining properties are not necessarily indicative of potential for similar results on the Black Tusk - PG Highway claims.
The second Black Tusk PGE property acquired is The Lorrain Project, comprising 8 claims totalling 466.67 hectares. This property is located along Highway 391 approximately one kilometre south of Lorrainville, Quebec. The property covers the Guimond-Church deposit. This deposit was found in outcrop and has been intersected by two diamond drill holes. The deposit is categorized as tabular nickel-chromium (Ni-Cr) mineralization hosted in an ultramafic intrusive which generates a strong magnetic anomaly (GM 54730). Two 1954 vintage drill holes intersected serpentinized peridotite injected with quartz veins. Core samples returned 0.48% Cr and 0.27% Ni (best intersections of holes 1 and 2, GM 02994). Sample results also indicate the presence of platinum group elements, including 19 ppb palladium and 59 ppb ruthenium.
The Black Tusk-Lorrain property is located within a region endowed with a variety of mineralization styles. Many of these were explored for copper, but have recently been recognized for platinum group elements. This includes the Alotta Project located approximately 10 kilometres north-east of the Black Tusk-Lorrain. At the Alotta, a 2019 drilling program confirmed the continuity of wide zones of nickel-copper-platinum group elements in massive sulphides. The drilling returned a highlight of 22% copper, 34g/t palladium, 3.5g/t platinum, 0.78% nickel, 1.4% zinc and 65 g/t silver over 0.5 metres from Hole ZA-19-05 (Chase Mining Corporation Ltd website December 3, 2019 News Release). The reader is cautioned that results obtained from other properties in the region are not necessarily indicative of potential on the Black Tusk - Lorrain property.
Black Tusk continues to show their commitment to exploration in the province of Quebec. The company now owns five mining projects that have potential for gold and/or Palladium/Platinum (PGE) mineralization. "We have acquired these 2 new PGE properties in response to a world shortage as well as recent record-setting prices of Rhodium, Platinum and Palladium. Virtually all electronics, including cell phones and computers, contain PGE in their circuitry as well as all automobile catalytic converters. Black Tusk is excited to start exploring these 2 new projects''. Stated Richard Penn, Black Tusk Resources, CEO.
Both of the newly acquired PGE properties of Black Tusk are readily accessible on major highways. The company plans to compile all available information for these two Palladium/Platinum (PGE) projects in order to plan future exploration. Data compilation and GIS plotting is expected to be completed in the following weeks.
Perry Grunenberg, P.Geo, a "Qualified Person" as that term is defined under NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Grunenberg is also a director of the Company.
On behalf of the Board of Directors
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Figure 1 - Google Earth image with locations of Black Tusk PGE properties
SOURCE: Black Tusk Resources Inc.