Vancouver, British Columbia (FSCwire) – Tasca Resources Ltd. (“Tasca” or the “Company”) (TSX.V: TAC, FSE: 3TA) is pleased to announce that the Company has acquired the Beaverhead Claims (“Agreement”) that is contiguous to the Moosehead Gold Project located close to the town of Grand Falls-Windsor in North-Central Newfoundland.
The newly acquired property is 2.5 km long by 1.5 km wide and traverses the TransCanada Highway and Bay d’Espoir Highway (Route 360). The property is contiguous to the northwest of the Sokoman Iron Corp. (SIC-TSX.V) Moosehead Gold Project, where Sokoman recently reported a drill intersection of 44.96 grams per tonne (g/t) gold over 11.9 metres.
Tasca cautions investors mineralization on the Moosehead property is not necessarily indicative of similar mineralization on its newly acquired claim block. Tasca further cautions investors it has not verified the Sokoman exploration data.
President Clive Massey states, “On July 24, Sokoman Iron issued a news release announcing a new quartz vein discovery that caught our attention. Drill hole MH-18-01 reported 50 specks of visible gold ranging from less than a millimetre to 2 millimetres in diameter. However, the mineralization hosted on the Sokoman property is not necessarily indicative of the mineralization hosted on our property. Tasca made the decision to ensure our shareholders had exposure to what we feel may perhaps be a burgeoning area of interest.”
The Sokoman intersection consisted of quartz veining at a down hole depth of 109m to 120.9m. Visible gold was noted in the quartz veining. True width is not known but appears to be 50% to 80%.
The Moosehead and Tasca property lies along a northeast trending 150km belt of Silurian volcanics, volcaniclastics and sediments rocks. Mineralization in the Moosehead area is associated with east-west trending quartz veins associated with a north dipping fault system.
Under the terms of the Agreement, Tasca has agreed to purchase a 100% interest in the Beaverhead Claims by paying $7,500 and issuing 2,000,000 million shares on approval of the Agreement by the TSX Venture Exchange (the “Exchange”). Tasca plans to immediately undertake a preliminary prospecting program to identify targets for follow up.
About Tasca Resources
Tasca Resources Ltd. (TAC: TSX-V) 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.
For additional information regarding the above noted Property and other corporate information, please visit the Company’s website at www.tascaresources.com
The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. an independent consulting 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”).
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794; Email: firstname.lastname@example.org
#830 – 1100 Melville St. | PO Box 43 | Vancouver | BC | V6E 4A6
Tel: (604) 341-6870 | Fax: (604) 395-7068
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.