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 a second property in the burgeoning Moosehead Gold area of north-central Newfoundland. The 600 hectare property is located 6.2 km due east of Sokomon Iron Corp’s (Symbol: SIC-TSXV) Moosehead Gold Project where Sokoman recently reported a drill intersection of 44.96 grams per tonne (g/t) gold over 11.9 metres.
The 4 km N-S by 1.5 km E-W road accessible property is located 10 kilometres SE of the town of Bishop’s Falls. The Moosehead and Tasca property lies along a northeast trending 150km belt of Silurian volcanic, volcaniclastic and sedimentary rocks with associated intrusives. Mineralization in the Moosehead area is associated with east-west trending quartz veins associated with a north dipping fault system.
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%.
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 stated: “The addition of this new ground to our property portfolio puts Tasca in an excellent position to be a leader in this emerging area play. We feel Newfoundland is one of the best exploration jurisdictions in Canada and we are eager to become a key player in this developing exploration camp. Our exploration team will be on the ground in the next few weeks to begin evaluation of these key pieces. ”
Under the terms of the Agreement, Tasca has agreed to purchase a 100% interest in the Moosehead Claim from an Arms-Length Vendor by paying $15,000 and issuing 1,500,000 million shares on approval of the Agreement by the TSX Venture Exchange (the “Exchange”). Tasca will have an exploration crew on the properties later in August to undertake preliminary prospecting programs 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: email@example.com
#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.