Vancouver, British Columbia (FSCwire) – Tasca Resources Ltd. (“Tasca”, “TAC” or the “Company”) (TSX.V:TAC, 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.
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 H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
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.
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.