Tarku Resources (TSXV: TKU) (OTCQB: TRKUF) (FSE: 7TK), an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona, has released results for holes SS21-006 to SS21-010 from its 2021 drill program on its high-grade Silver Strike Project in Arizona. The Silver Strike Project is located in the famous Tombstone Mining district, one of the earliest silver mining areas in the western United States that started producing numerous silver mines in 1877.
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Hole SS21-007 intersected 3 metres grading 397 g/t silver, 3.85 g/t gold, 0.20% copper, 2.73% lead and 2.70% zinc or 855 g/t silver equivalent at the depth of 6.1 metres, including 1.5 metres grading 720 g/t silver, 6.44 g/t gold, 5.08 % lead, and 5.05% zinc or 1,515 g/t silver equivalent. The same hole also intersected 1.5 metres grading 180 g/t silver equivalent at 15.2 metres depth and 1.5 metres grading 264 g/t silver equivalent at 74.7 metres depth, supporting the stacking interpretation of several high-grade veins within the same Lucky Cuss structure.
Holes SS21-006 and 007 revealed that the targeted Lucky Cuss structure encounters several high-grade mineralized zones that appear to be dipping at low angle to sub-horizontal within the north-south structure. If proven, this unexpected flat vein orientation within steeply dipping structures could help the company to better target its future exploration programs.
This recently completed 23-hole drill program, Tarku's first drill program on the Silver Strike project, totaled 2,791 metres, which tested the potential for high-grade silver in 5 different zones, with assays pending for the remaining 13 holes. Due to the presence of some significant gold and base metals results, a silver equivalent index was calculated using a price of $1,800 an ounce for gold and $24 an ounce for silver.
The company is using the project generation model and also holds 100% of 6 projects in Quebec in an area with a long and proven history of gold & base metal production.
In October, the company raised gross proceeds of $2.5 million from the placement of 25 million units priced at $0.10 per unit, which included a strategic investment of $1,055,000 from Eric Sprott, through his private company. The shares are trading at $0.13.
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