Vancouver, British Columbia -- May 14, 2018 -- InvestorsHub
NewsWire --
Tasca Resources Ltd. ("Tasca",
“TAC” or the "Company") (
TSX.V:TAC, USOTC:ECMXF, FSE:3TA) is
pleased to provide an update to its current and prospective
Shareholders regarding the Company’s activities and milestones.
Tasca’s management and technical team have been very active
over the past six months and Shareholders have responded
positively to our continued efforts to build a diversified
portfolio of exploration assets for the Company. The Company has
successfully completed multiple rounds of capital allowing for the
advancement of its various projects.
Princeton Gold Property
Tasca has completed planning for a 2018 drilling program at its
Princeton Gold Property, 35 kilometres south of Princeton, British
Columbia and 11 kilometers south of the producing Copper Mountain
Copper Mine. The road accessible, 4013 hectare property is fully
permitted for fifty trenching sites and ten drilling sites. The
Company has budgeted $300,000 for this upcoming field season.
Previous prospecting, soil grids and rock sampling have identified
an area of significant interest, Area 2, where float grab and
in-place quartz rock sampling documented 25 of 37 samples returning
gold values in excess of 1,000 ppb with 13 of the 25 samples
returning gold values in excess of 10,000 ppb gold, or 10 grams per
tonne, to a maximum of 66,237 ppb or 66.2 grams per tonne gold.
The samples were collected from three separate locations enclosing
angular float, sub crop or outcrop of rusty weathered, limonite
stained quartz with trace to 5% very fine grained disseminated
pyrite. Several of the samples exhibit remnant vugs or cellular
boxwork structure.
The 2011 grid soil sampling surveys indicate Area 2 hosts multiple,
linear, parallel gold-in-soil anomalies with the strongest anomaly
striking a minimum of 500 metres to a maximum of 650 metres in a
northwestern direction.
Poplar Copper Property Historic Technical Data
Tasca’s technical team led by R. Tim Henneberry, P.Geo., has
assembled the historic exploration data previously generated at the
Poplar copper property, southwest of Houston, British Columbia.
Tasca is currently reviewing and cataloging the data to locate and
define exploration targets both within the area of known
mineralization and elsewhere on the 62,000 hectare property.
At this preliminary stage, Tasca has identified multiple new and
previously known target areas on its Poplar project:
- Deep IP targets that appear to suggest extension of the known
Poplar deposit both to depth and laterally;
- Several airborne EM anomalies displaying signatures similar to
known BC porphyry deposits;
- Several property wide historic zones requiring follow up
exploration with modern methods.
Poplar Long Wave Infrared Survey
Tasca completed a Long Wave Infrared (“LWIR”) Survey over its 620
square kilometre Poplar Copper property late in 2017. The data
analysis by LWIR consultants highlighted a 28 kilometre sericite
trend, interpreted to be hydrothermal alteration corridor through
the entire Poplar property, and identified numerous new exploration
targets both within the corridor and throughout the remainder of
the property. A six to eight hole drilling programme is being
planed to follow up on these newly identified targets and
permitting is curently in progress.
Sericite is an alteration mineral frequently associated with
hydrothermal mineral deposits, such as vein and porphyry deposits.
The LWIR sericite interpretation has shown a direct correlation
with the known mineralization at the Poplar deposit. The additional
anomalous zones or targets both within and outside of the
interpreted 28 kilometre hydrothermal corridor are high priority
exploration targets for Tasca.
About the Poplar
The Poplar copper deposit hosts an historical indicated mineral
resource of 131 million tonnes grading 0.31 per cent copper, 0.009
per cent molybdenum, 0.09 gram per tonne gold and 2.39 grams per
tonne silver and a historical inferred mineral resource of 132
million tonnes grading 0.27 per cent Cu, 0.005 per cent Mo, 0.07
g/t Au and 3.75 g/t Ag has been identified through the drilling of
147 historical holes.
These historical indicated and inferred resources were disclosed by
Lions Gate Metals Inc. in its technical report dated March 30,
2012, prepared by Gary Giroux, PEng.
To determine the historical resource, a three-dimensional solid was
constructed to constrain the mineralized area, using a
0.1-per-cent-copper-grade shell as a guide. Large internal waste
zones were modelled as were some larger-post mineral dikes. Of the
total database, 129 drill holes totalling 37,205 metres were within
the mineralized zone and were used to estimate the resource. Drill
holes were compared with the mineralized solid, and assays were
tagged if inside. Copper, molybdenum, gold and silver assays within
the mineralized solid were capped at 1.4 per cent Cu, 0.14 per cent
Mo, 0.34 g/t Au and 41 g/t Ag, respectively. Five-metre composites
were formed and used for variography.
For this estimate and to aid with some preliminary planning, the
blocks were reduced to five by five by 10 metres in dimension and
were estimated for Cu, Mo, Au and Ag by ordinary kriging. The
historical resource is classified as indicated and inferred based
on each block’s proximity to data and the grade continuity. The
historical indicated and historical inferred resource uses the
categories set out in Section 1.2 of National Instrument
43-101.
Tasca will need to review and verify the historical drilling
database and twin a number of the existing drill holes to bring the
historical resources current. Investors are cautioned a qualified
person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves and
therefore Tasca is not treating the historical estimate as current
mineral resources or mineral reserves.
About Tasca Resources
Tasca Resources Ltd. (
TAC: TSX-V; FWB: 3TA) is a
Canadian-based mineral exploration company focused on the
acquisition, exploration and development of mineral
properties. Our objective is to build shareholder value
through exploration and potential development or acquisition of
existing projects with significant up-side.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by R. Tim Henneberry,
P.Geo., Tasca’s geologist, who is a “Qualified Person” as such term
is defined under National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43- 101”).
For additional information regarding the above noted property and
other corporate information, please visit the Company's website at
www.tascaresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
Email: info@tascaresources.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be
deemed "forward-looking" statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although Tasca Resources Ltd.
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Forward
looking statements are based on the beliefs, estimates and opinions
of Tasca Resources Ltd. management on the date the statements are
made. Except as required by law, Tasca Resources Ltd. undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
Source: Tasca Resources Ltd. (TSX Venture:TAC, OTC Bulletin Board:ECMXF,
FWB:3TA)