VANCOUVER, BC / ACCESSWIRE / July 27, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(Frankfurt:0NB) is pleased to announce that the company has completed line cutting in preparation for a 3D Induced Polarization (IP) survey on the McKenzie East gold property located north of Val d'Or, Quebec. A total of 9 kilometres of line-cutting grid was completed in order to provide access for the IP crew and associated equipment. Grid design was undertaken in collaboration between Black Tusk's geological crew and the contract geophysicist at Abitibi Geophysics based in Val d'Or.
The IP grid is located within the northwest area of the McKenzie East property. This area will be surveyed in order to trace possible gold-bearing structures extending eastward from the McKenzie Break property located within two kilometres of the Black Tusk claims. The McKenzie Break is documented to contain structurally controlled gold mineralization associated with anastomosing ductile shear zones. The reader is cautioned that resources that exist on adjacent properties are not necessarily indicative of potential on the Black Tusk - McKenzie East Project.
The IP survey will also add to the data collected so far on the project, including results of their recently completed MMI soil sampling. The results of the IP survey will be combined with the results of MMI soil sampling and the drone magnetic survey results to locate the best targets for diamond drilling. Drilling is expected to be underway in late Summer 2020.
The Company also announces that it has issued 2,100,000 stock options issued with an exercise price of $0.07 per share for a two-year term. 2,000,000 of the issued options were issued to directors and officers of the Company.
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.
About Black Tusk Resources Inc.
Black Tusk Resources is a gold-focused Canadian exploration company with operations primarily based in the world-class Abitibi greenstone belt region of Quebec. Black Tusk currently holds 100-per-cent ownership in six separate gold and platinum/palladium properties in Canada.
On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923
Cautionary Statement
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 planned exploration activities and potential similarities with adjacent properties. 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, underwhelming results from exploration, failure to identify differences between the Company's properties and adjacent properties, issues with title and adverse land claims and insufficient financing. 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.
SOURCE: Black Tusk Resources Inc.