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 Mineral Property Option Agreement with an arm’s length Vendor to acquire 3,710 Hectares of prospective mining claims in the Omineca Mining Division located in north central British Columbia, approximately 40 kilometres south of Houston.
Tasca President and CEO Clive Massey stated, “The addition of these claims to our existing land package in the Houston area puts us in a very strong position, both geographically and strategically in this emerging area play, while at the same time solidifying our position as a first mover in the area.”
The Nadina property consists of two blocks of claims. The first lies 1000 metres to the west of the New Nadina claim block and contiguous to the north to the Lions Gate Metals Inc. claim block. The underlying geology of this claim block is Cretaceous Skena Group Red Rose Formation sediments intruded by both Cretaceous Bulkley intrusions and Eocene Nanika intrusions. The second block lies 3500 metres to the north of the New Nadina claim block. The underlying geology is Cretaceous Kasalka Group andesitic volcanics intruded by Cretaceous Bulkley intrusions. This block has prior exploration history, hosting a 1600 metre wide charegeability anomaly.
Tasca plans to review the assessment record for historical work on these claim blocks to assist in the planning of an exploration program to assess and evaluate them.
The terms of the Property Option Agreement require Tasca to make cash payments totaling $100,000 and issue 1.5 million common shares of the Company to the Vendor over three years. The Agreement is subject to TSX Venture Exchange 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)