Vancouver, British Columbia, November 15, 2018 – Tasca Resources Ltd. (“Tasca” or the “Company”) (TSX.V: TAC, FSE:3TA) is pleased to announce it has received initial assay results from
its September 2018 trenching program at its Princeton Gold Property.
- One bedrock sample exceeded 100 g/t gold and one bedrock sample ran 100 g/t gold
- Two quartz float samples exceeded 100 g/t gold
- Seventeen of 56 samples exceeded 1 g/t gold, including 13 of the 16 quartz vein or float samples
- Zone traced over 120 metres, overburden exceeded the 6 metre reach of excavator
- Location of Area 2 and trench locations can be found on the accompanying map – Values will be
plotted once final assays are received
Tasca cautions investors float samples are grab samples and may not be representative of mineralization on the Princeton Property.
A total of 51 bedrock samples and 5 float samples were taken and submitted to the ALS Minerals Laboratory in North Vancouver, B.C. for AuME TL-43 analysis with an upper limit of 1 g/t gold.
Seventeen of the 56 samples returned value in excess of 1 g/t gold and were subsequently analyzed with procedure Au-AROR43 with an upper limit of 100 g/t gold. Three samples returned values in excess of 100 g/t gold, with a fourth sample reporting at 100 g/t gold. Tasca is awaiting a further analysis on the 4 samples. Intervals and composites will be completed once the final over limit analyses are received from ALS Minerals. Complete sampling details can be found in the following table.
|m width||ppm gold||g/t gold||
|m width||ppm gold||g/t gold|
|PM1||0 to 1||andesite||1||0.009||PM3||0 to 1||andesite||1||0.156|
|PM1||1 to 2||andesite||1||0.007||PM3||1 to 2||andesite||1||0.092|
|PM1||2 to 3||andesite||1||0.019||PM3||2 to 3||quartz vein||1.1||>1.00||2.6|
|PM1||3 to 4||andesite||1||0.075||PM3||3 to 4||andesite||1||0.442|
|PM1||4 to 5||andesite||1||>1.00||14.55||PM 4||0 to 1||andesite||1||0.144|
|PM1||5 to 6||andesite||1||0.074||PM 4||1 to 2||andesite||1||0.714|
|PM1||6 to 7||andesite||1||0.071||PM 4||2 to 3||quartz vein||0.5||>1.00||11.65|
|PM1||7 to 8||andesite||1||0.01||PM 4||3 to 4||andesite||1.2||0.168|
|PM1||8 to 9||andesite||1||0.016||PM 4||4 to 5||quartz vein||0.3||0.235|
|PM1||9 to 10||andesite||1||0.004||PM 4||5 to 6||andesite||1||0.056|
|PM1||10 to 11||andesite||1||0.006||PM 5||11 to 12||andesite||1||>1.00||1.56|
|PM1||11 to 12||andesite||1||0.01||PM 5||12 to 13||andesite||1||0.058|
|PM1||12 to 13||andesite||1||0.009||PM 5||13 to 14||andesite||1||0.047|
|PM1||13 to 14||andesite||1||0.004||PM 5||14 to 15||andesite||1||0.112|
|PM 2||0 to 1||andesite||1||0.009||PM 5||15 to 16||quartz vein||0.15||>1.00||12.95|
|PM 2||1 to 2||andesite||1||0.018||PM 5||16 to 17||andesite||0.85||0.203|
|PM 2||2 to 3||andesite||1||0.065||PM 5||17 to 18||andesite||1||0.278|
|PM 2||3 to 4||quartz vein||1||>1.00||48.1||PM 6||9 to 10||andesite||1||0.061|
|PM 2||4 to 4.5||quartz vein||0.5||>1.00||16.25||PM 6||10 to 11||andesite||1||0.056|
|PM 2||4.5 to 5.5||andesite||1||>1.00||4.22||PM 6||11 to 12||quartz vein||0.3||>1.00||21.6|
|PM 2||5.5 to 6.5||andesite||1||0.049||PM 6||12 to 13||andesite||1||0.61|
|PM 2||6.5 to 7.5||andesite||1||0.033||PM 6||13 to 14||andesite||1||0.145|
|Pit 1||andesite||0.55||0.088||PM 6||quartz composite||grab||>1.00||2.99|
|PM2 ext||quartz vein||0.9||>1.00||>100||quartz boulder float||grab||0.643|
|PM 2 ext||quartz vein||0.9||>1.00||100||quartz boulder float||grab||0.235|
|Pit 1||quartz stringers||0.75||>1.00||13.85||quartz boulder float||grab||>1.00||>100|
|quartz boulder float||grab||>1.00||37.1|
|quartz boulder float||grab||>1.00||>100|
“Tasca has always recognized the Princeton Gold Property as one of its significant assets” said CEO Clive Massey. “These high grade gold results have moved the Princeton Project to the forefront of our exploration strategy and we are now making preparations to follow up with a fully permitted drill program prior to year end.”
The excavator trenching program followed up on the earlier Area 2 exploration discoveries, 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 trenching was able to trace the main vein structure approximately 120 metres along strike before the vein zone disappeared beneath thickening overburden cover in both directions. Trenches were cut perpendicular to vein strike with short distances opened in each direction along the vein where possible. Mineralization is confined to the quartz veins or within the first metre of the andesitic host rock. The quartz vein ranges from 0.3 to 1.8 metres in width and consists of white quartz with limonite fractures and irregular limonitic patches and a rare vuggy texture.
Two other areas highlighted by anomalous rock samples or soil samples were tested. Overburden thicknesses were beyond the limit of the excavator boom so bedrock was not reached. These
areas will need to be tested by diamond drilling. The five quartz float samples were taken from these two areas. Tasca cautions investors float samples are grab samples and may not be representative of mineralization on the Princeton Property.
Princeton Gold Property
The Princeton Gold Property lies 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 Area 2 samples were collected from three separate locations consisting of 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.
A 2011 grid soil sampling survey indicates 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.
Quality Assurance/Quality Control
All samples other than the 5 float samples were chip samples taken from bedrock as it was exposed by the excavator. Supervision, organization and sampling was undertaken by personnel from geological consultant Mammoth Geological Ltd. Certified reference standards and blanks were placed in the sample stream at regular intervals. The secured and sealed samples were packed into rice bags, sealed and securely stored until they were delivered by Mammoth Geological personnel to the ALS Minerals Laboratory in North Vancouver, B.C.
All rock samples were analyzed utilizing ALS’s AuMETL-43 procedure, an aqua regia extraction on a 25 gram sample with an ICP finish and a 1 g/t Au upper limit. Samples with over limit gold received an AuOG43 analysis, a four-acid digestion of a 25-gram sample with ICP-AES finish and a 100 g/t Au upper limit.
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.
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