Precious Metals

Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK), (OTC PINK:BTKRF), (FRA:0NB) is pleased to provide a summary of results from geophysical surveying on the MoGold property located north of Val d'Or, Quebec

On the MoGold property TMC Geophysique completed deep-penetrating Pulse-EM (Time Domain Electromagnetic, TDEM) surveying designed to test a four square kilometre area to cover zones targeted through geologic assessment and rock sampling. Rock samples returned significant values of copper, silver and zinc (See Black Tusk News Release dated 2022-03-07). The geology along the trend is interpreted to have potential for Volcanogenic Massive Sulphide (VMS) mineralization (see News Release dated 2022-03-07). The zone of interest also displays magnetic features derived from the Black Tusk 2021 surveys. TMC Geophysique is currently compiling the EM survey data and expects to soon provide maps and results.

The TMC report of findings from the TDEM survey identifies six localized anomalies that are roughly grouped around the Boily-Bérubé mineral occurrence. This is also the area where Black Tusk exploration obtained rock samples that returned elevated values for silver, copper and zinc. The TDEM were modelled as relatively shallow-seated bodies/targets. Historic drilling is shown to be located near to some of these anomalies and is documented in reports. Black Tusk intends to review the historic drilling to further validate the potential of the conductive bodies discovered by the TDEM. The target mineralization has been interpreted as Volcanogenic Massive Sulphide. These kinds of deposits often form small pods of mineralization loosely linked along a bedrock horizon.

TMC Geophysique has just completed a second Pulse EM survey over Black Tusk's PG Highway claims where massive pyrite and pyrrhotite have been mapped at surface. The sulphide mineralization was discovered during the 2021 Black Tusk geologic reconnaissance. The strength of sulphide mineralization and the general geology suggest potential for hosting VMS deposition. The results from this TDEM survey are expected to be available in the following week.

Black Tusk is preparing to test the best target areas on the MoGold and PG Highway properties by diamond drilling. The drilling could commence once all of the EM survey results have been reported by TMC, and the Black Tusk geologic team have evaluated all of the exploration work to date to determine priority locations and targets.

Black Tusk exploration programs undertaken in Quebec are supervised by Dr. Mathieu Piché, OGQ, with office located north of Val d'Or. He is also a Black Tusk company director.

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.



View source version on accesswire.com:
https://www.accesswire.com/708345/Black-Tusk-Resources-Inc-Geophysical-Survey-Results-MoGold-Project-Val-Dor-Quebec

News Provided by ACCESSWIRE via QuoteMedia

TUSK:CNX
Black Tusk Resources Inc. Geophysical Survey Results PG Highway Project, Quebec

Black Tusk Resources Inc. Geophysical Survey Results PG Highway Project, Quebec

Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK, FRA:0NB, OTC PINK:BTKRF) is pleased to provide a summary of results from geophysical surveying on the PG Highway (PGH) property located north of Val d'Or, Quebec

On the PGH property TMC Geophysique completed deep-penetrating Pulse-EM (Time Domain Electromagnetic, TDEM) surveying designed to test a one square kilometre area to cover zones targeted through geologic assessment and rock sampling. Rock samples obtained by Black Tusk returned significant values of copper, silver and zinc. The geology along the trend is interpreted to have potential for Volcanogenic Massive Sulphide (VMS) mineralization (see News Release dated 2022-03-07). The zone of interest also displays magnetic features derived from Black Tusk 2021 surveys. TMC Geophysique has provided to Black Tusk data and maps with a summary report of the survey results.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Black Tusk Resources Inc. Deep Penetrating Em Survey Completed on the PG Highway Val D'Or, Quebec

Black Tusk Resources Inc. Deep Penetrating Em Survey Completed on the PG Highway Val D'Or, Quebec

Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(FRA:0NB) is pleased to announce that the geophysical surveying on the PG Highway property located north of Val d'Or has now been completed

The deep-penetrating Pulse-EM (Time Domain Electromagnetic) survey was completed by TMC Geophysique and covers an area where historic surface trenching uncovered near-massive to massive pyrite and pyrrhotite. This area was sampled by Black Tusk in 2021 returning several elevated gold results (See Black Tusk news release dated January 11, 2022). Drone supported magnetic surveying completed last year indicates that a magnetic high may be associated with the mineralization, extending for more than 1 kilometre outward from the area of sampling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has completed repayment of its senior secured US$40 million credit facility (" Credit Facility ") with Sprott Resource Lending Corp. (" Sprott ") subsequent to the completion of the sale of the Company's New Found Gold Corp. investment 1 . The Company is now free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million.

The Company paid an aggregate amount of US$40,144,029 to Sprott in satisfaction of all amounts outstanding, including all accrued interest, on the Credit Facility. No early repayment penalties were paid. The Company is in the process of discharging all security previously granted to Sprott in connection with the Credit Facility.

ABOUT NOVO

Novo operates its flagship Beatons Creek project while exploring and developing its prospective land package covering approximately 11,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .

On Behalf of the Board of Directors,

Novo Resources Corp.

" Michael Spreadborough "

Michael Spreadborough

Executive Co-Chairman and Acting CEO

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

Nomad Royalty Company Ltd. (TSX: NSR) (NYSE: NSR) (" Nomad " or the " Company ") is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by Sandstorm Gold Ltd. (the " Purchaser ") by way of a plan of arrangement in accordance with the Canada Business Corporations Act (the " Arrangement "). Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration of 1.21 common shares of the Purchaser per Nomad share.

The Company has now received all regulatory and competition approvals required to complete the Arrangement. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement dated May 1, 2022 between the Company and the Purchaser, the Arrangement is expected to be effective on or about August 15, 2022 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

(TheNewswire)

August 11, 2022 TheNewswire - Vancouver, British Columbia, Canada Jazz Resources Inc. (the " Company " or " JZR ") (TSXV:JZR) is pleased to announce that it intends to undertake a non-brokered private placement offering of convertible debentures (the " Debentures ") to raise gross proceeds of up to $1,000,000 (the " Offering ").  The principal sum of each Debenture will be $1,000.  The Debentures will bear interest at a simple rate of eight percent (8%) per annum and will mature on the date that is two (2) years from the date of issuance (the " Maturity Date "). For the first year of the term of the Debentures, interest will be paid in arrears in cash to the holders of the Debentures on the earlier of the conversion date or the date of the first anniversary of the Debentures. For the second year of the term of the Debentures, interest will be paid in arrears in cash on the earlier of the conversion date and the Maturity Date for interest accrued during the second year. The principal amount of the Debentures may, at the election of the holders and at any time prior to the Maturity Date, be converted into common shares in the capital of the Company (the " Conversion Shares ") at a conversion price of $0.85 per Conversion Share.  The Debentures will be offered pursuant to one or more prospectus exemptions set out in National Instrument 45-106 Prospectus Exemptions .

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Corp. (TSX: GCM; OTCQX: TPRFF) announced today the release of its unaudited interim condensed consolidated financial statements ("Financial Statements") and accompanying management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022. All financial figures contained herein are expressed in U.S. dollars ("USD") unless otherwise noted. Non-GAAP financial performance measures in this press release are identified with " NG ". For a detailed description of each of the non-GAAP measures used in this press release and a detailed reconciliation to the most directly comparable measure under IFRS, please refer to the Company's MD&A.

Second Quarter and First Half 2022 Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

(All amounts in CDN$ unless otherwise indicated)

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") today reports financial results for the three and six month periods ended June 30, 2022 (" Q1 2022 " and " YTD 2022 ") compared to the three and six month periods ended June 30, 2021 (" Q2 2021 " and " YTD 2021 ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (Freegold) announces that South32 Limited (South32) has provided notice of its intention and election not to further fund any further Tranche Payments as defined in, and in terms of, the Option Agreement, and accordingly the Option Agreement has been terminated. Shorty Creek lies approximately 125 road km northwest of Fairbanks, Alaska and 4 kms to the south of the abandoned mining town of Livengood and the all-weather paved Elliott Highway.

The work funded by South32 over the last three years, has provided additional understanding of the mineralization at Shorty Creek with most of the work focused outside of the Hill 1835 target area, where Freegold previously focused its attention. The Hill 1835 area covers a 1,000 metre by 1,500 metre target area with copper mineralization associated with the magnetic high. Additional work by Freegold is expected to focus on the geochemical anomalies, with coincident magnetic highs located throughout the project area as well as additional follow-up in the Hill 1835 Area.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×