Vancouver, British Columbia, November 13, 2018 – Tasca Resources Ltd. (“Tasca” or the “Company”) (TSX.V:TAC, FSE:3TA) is pleased to announce it has acquired the Selish Mountain
property, a 290 hectare block approximately 15 kilometres southwest of Merritt, British Columbia and 10 kilometres to the north of Westhaven Ventures Inc.’s Shovelnose Gold Property, where recent drilling has returned intersections of 8.95 g/t gold over 46.2 metres and 24.5 g/t gold over 17.77 metres. Tasca cautions investors it has not verified the Westhaven exploration data.
Historic exploration on the Selish Mountain property consists of geological mapping, soil sampling and induced polarization surveys for porphyry copper in the early 1970’s. Excavator trenching and diamond drilling uncovered sulfide mineralization in the intrusive and hosting volcanics, consisting of disseminations, blebs and discontinuous stringers of chalcopyrite and molybdenite. This description is taken from the BC Ministry of Energy and Mines Minfile database. The geological data is not available, so Tasca must caution investors it has not verified the exploration data.
“Tasca believes in the mineral potential of the Spences Bridge and Nicola Group rocks throughout the lower central interior of British Columbia” said CEO Clive Massey. “While everyone is obviously excited about the Shovelnose discovery in Spences Bridge Group rocks, the potential of the underlying Nicola Group rocks can’t be overlooked. We feel the Selish Mountain property has excellent potential for gold and fits in with our Princeton Gold Property 95 kilometres to the southeast.”
The Selish Mountain property is underlain by mafic to felsic pyroclastic rocks and flows with lesser argillite, sandstone and local carbonate of the upper Triassic Nicola Group. The western third of the property is underlain by fine through coarse clastic sediments of the Eocene Princeton Group. A small dioritic intrusion of late Triassic early Jurassic age lies immediately south of the property boundary.
Tasca suspects the historic exploration was solely focussed on copper and assaying was likely restricted to copper as well. Tasca plans a reconnaissance trip to the property to view outcrops and take some preliminary samples to assess the precious metal potential of the property.
Terms of the Option Agreement with the Vendor are as follows; pay $5,000 on signing (paid), pay $5,000 and issue 700,000 common shares within three days of TSX Venture Exchange approval; pay $10,000 and issue 1,300,000 common shares within 12 months of the Agreement date.
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
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.”