Black Tusk Resources Inc. Adds MoGold to Quebec Mineral Properties
Tuesday, June 30, 2020 2:00 PM
VANCOUVER, BC / ACCESSWIRE / June 30, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (C:TUSK) (OTC:BTKRF) (Frankfurt:0NB) s pleased to announce the acquisition of the MoGold property located north of Val d'Or, Quebec. The property was acquired directly by Black Tusk through the Quebec online staking process.
The MoGold property is comprised of 21 claims totalling 1203.09 hectares. The claims are located west of Highway 397, 22 Km north of Val d'Or, Quebec. The new MoGold claims adjoin Black Tusk's previously staked PG Highway property located immediately to the east. The PG Highway adjoins claims that cover the Lynx and La Tour PGE mineral showings (see previous news releases).
The MoGold claims cover the historic Boily-Bérubé mineral showing. The Boily- Bérubé is described as being located on the western contact of the La Corne batholith. The showing consists of a massive vein of cherty quartz containing fine grains of pyrite, minor chalcopyrite and scattered flakes of molybdenite. The veins trend along the western contact of a quartz porphyry intrusion highly mineralized with very fine-grained pyrite. Excavating on the showing carried out in 1989 revealed a pegmatititic quartz vein containing 10 to 30% molybdenite, pyrite and traces of chalcopyrite and malachite. To date no precious metals have been associated with this showing.
The new claims cover 8 drill holes that were completed by Sullico Mines Ltd. in 1971-1972 and Falconbridge Inc. in 2004. A preliminary review of the drill hole summaries indicate intercepts containing pyrite, pyrrhotite, chalcopyrite, and molybdenite with significant assay values returned for copper, silver, and zinc. Two assessment reports filed with Energy and Natural Resources Quebec (GM28078 and GM62134) summarize the historic drilling. The earlier drill hole records show the geology as diorite, rhyolite and andesite within sedimentary rocks with samples showing elevated Cu, Zn, Ni, Pb and Ag. Gold was not shown to have been analyzed. The 2 drill holes completed by Falconbridge intercepted basalt, gabbro and diorite reporting elevated copper and zinc with few marginally significant gold results. Further compilation of historic work will be undertaken in the following weeks.
Black Tusk's geological consultants determine that the geology and mineralization as described in historic reports of drilling, and for the mineral showing, on the MoGold property may be conducive for the discovery of base and precious metals, and should be further explored.
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.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating to the exploration potential of the MoGold Property. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, uncertainties with respect to financing, failure to maintain title to the properties, failure to obtain the necessary government approvals, title deficiencies and land claim entitlements from first nations. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.On behalf of the Board of Directors
SOURCE: Black Tusk Resources Inc