Vancouver, British Columbia (FSCwire) – Tasca Resources Ltd. (“Tasca” or the “Company”) (TSX Venture symbol: TAC; FWB symbol: 3TA) Tasca is pleased to announce that it has signed a Definitive Agreement with an arm’s length vendor to acquire 1,580 Hectares of prospective mining claims located in north central British Columbia, approximately 40 kilometres south of Houston.
“Recent developments in this area of British Columbia have really caught our attention” stated Tasca President and CEO Clive Massey. “Tasca made the decision to strategically position itself in this geographic location and seize the opportunity to be a first mover in what we see as a potential emerging area play.”
The Tasca property lies 2,500 metres to the south of the New Nadina claim block and contiguous to the east to the Lions Gate Metals Inc. claim block. The underlying geology of the claim block is Cretaceous Kasalka Group andesitic volcanics, Eocene Endako group alkaline to basaltic volcanics and Eocene Ootsa Lake Group felsic volcanics. The central portion of the property consist of an outlier of Paleogene sediments masking the underlying geology. A large body of feldspar porphyry related to the Cretaceous Bulkley Intrusions lies 5 kilometres to the west.
Tasca plans to review the assessment record for historical work on the new claim block to assist in the planning of an exploration program to assess and evaluate them.
The terms of the Agreement call for a cash payment of $10,000 dollars and a share payment of 1.5 million common shares of the Company subject to TSX Venture approval.
R. Tim Henneberry, P.Geo., Tasca’s Geologist and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
For additional information please visit the Company’s website at www.tascaresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
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.
“Neither the 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.”
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Source: Tasca Resources Ltd. (TSX Venture:TAC)