Black Tusk Completes Data Compilation for the PG Highway Property, Val-D’Or, Quebec
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Black Tusk Completes Data Compilation for the PG Highway Property, Val-D’Or, Quebec

Tuesday, January 5, 2021 9:00 AM
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VANCOUVER, BC / ACCESSWIRE / January 5, 2021 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(FRA:0NB) is pleased to provide results of the on-going data review and compilation for the PG Highway property located north of Val d'Or, Quebec.

Historic reports from various mining exploration companies, and the Quebec government, have been reviewed for the project area. Historic work has included geologic mapping, economic potential assessments, airborne and ground geophysics, geochemical sampling, and drilling.

Of particular interest to the PG Highway is work documented by Hudbay Mining Ltd in 1978 (report GM58971) and Exploration Louphior Inc in 1988 (GM46998). Hudbay completed geologic mapping, ground geophysics, trenching and overburden sampling. One site was tested by diamond drilling. Louphior completed lithogeochemical sampling and ground geophysics (magnetics, electromagnetics, and Induced Polarization) and five diamond drill holes. Drill hole locations are summarized in the table below.

Historic drill holes completed on the PG Highway property

Drill Hole id
Company
Year
East
North
Azimuth
Dip
Depth (m)
8712-1
EXPLORATION LOUPHIOR INC
1988
304631
5352374
10
45
112.2
8712-2
EXPLORATION LOUPHIOR INC
1988
304849
5352280
10
45
100
8712-3
EXPLORATION LOUPHIOR INC
1988
304678
5352365
10
45
123.4
8712-4
EXPLORATION LOUPHIOR INC
1988
304857
5351819
10
45
170.1
8712-5
EXPLORATION LOUPHIOR INC
1988
304649
5351860
10
45
93.9
DDH-F-G-1-78
HUDBAY MINING LTD
1978
305032
5352353
47
45
54.0


The PG Highway was originally staked to cover documented historic drill-hole 8712-2. Drill logs for this hole indicate that it intercepted 9.6 metres of near-massive to massive pyrite and pyrrhotite within basaltic rocks. Further review of the historic drill logs indicate that significant sulphide intercepts were also reported in holes 8712-1, 8712-3, 8712-4, and F-G-1-78. All of these holes were drilled within a 600 metre diameter area in close proximity to Highway 397 north of Val d'Or. The sulphide intercepts are summarized in the table below. The reader is cautioned that intercepts reported in historic drilling have not been verified by Black Tusk.

Significant sulphide intercepts in historic drilling

Hole id
from (m)
to (m)
Geology Summary*
ddh 8712-1
0
4.9
Overburden
 
4.9
27.8
Basalt
 
27.8
112.2
silicified basalt
including
35.6
36.2
30% po, 15% py
 
40.4
41.4
25% po, 25% py
 
42.7
44.1
20% po, 10% py
 
45.3
45.7
60% py, 10% po
 
46.9
48.6
40% py, 30% po
 
53
53.4
50% py, 30% po
 
55.2
56.5
20% po, 20% py
 
76.4
77.7
50% po, 5% py
ddh 8712-2
0
4.8
Overburden
 
4.8
100
Basalt
including
35
44.6
40% py, 10% po
 
45.7
45.76
80% py
 
53.4
53.45
40% py
 
54.2
54.36
40% py, 30% po
ddh 8712-3
0
7.6
Overburden
 
7.6
22.3
Dacite
 
22.3
23.3
80% py, 3% po, 10% mag
 
23.3
123.4
altered mafic rock
including
25
25.04
massive po
 
26.3
26.4
70% py
 
31.2
31.3
massive po
 
42.9
43.5
several thin bands massive po
 
45.2
46.1
20% po
 
77.8
78.1
60% po
ddh 8712-4
0
15.2
Overburden
 
15.2
115.2
Metabasalt
 
115.2
170.1
Rhyodacite
including
119.4
119.8
80% py
 
121
121.6
40% py
ddh F-G-1-78
0
9
Overburden
 
9
27.3
grey green volcanic
 
27.3
28.7
chlorite biotie schist
 
28.7
29.7
50% po and py, some mag
 
29.7
44.8
quart biotite chlorite schist
including
31.9
32.2
50% py and po
 
39.3
39.6
po py banding

* po = pyrrhotite, py = pyrite mag = magnetite

Note: Black Tusk has not verified the intercepts described above

Actual intercept widths (accounting for drilling angle and geologic structure orientation) were not provided in the historic records and are considered unknown at this time.

The historic reports indicate that work, including diamond drilling, had been concentrated only on gold and silver potential. Drill core was only analyzed for gold (maximum value of 50 ppb), or gold and silver. Black Tusk intends to continue to investigate the property for gold as well as other commodities including platinum group elements (PGE). Regionally, the PG Highway property adjoins claims that cover the Lynx and La Tour PGE mineral showings (See News Release dated April 14, 2020).

Exploration is expected to be undertaken on the PG Highway in 2021. Black Tusk holds title to five mineral properties in the Quebec, Abitibi Greenstone Belt. Three of these properties are located to the immediate north of Val d'Or. This includes the McKenzie East Gold Project, PG Highway, and MoGold properties. The other properties are the Golden Valley located north of La Sarre, and the Lorrain located immediately south of Lorrainville, Quebec. The McKenzie East Gold Property is scheduled to begin diamond drilling on January 15, 2021. The Lorrain property is also scheduled for drilling in early 2021.

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.

The Company also announces that it has entered into agreements to settle outstanding indebtedness of $198,450 at a price of $0.05 per share. The shares will be subject to four month and one day hold period from the date of issuance.

Additionally, the Company announces that it and has granted a total of 1,000,000 options to directors of the Company exercisable at a price of $0.065 per share for a three-year term.

Cautionary Statement

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.

On behalf of the Board of Directors

Richard Penn
CEO
(778) 384-8923

SOURCE: Black Tusk Resources Inc.

Black Tusk Resources Inc
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