VANCOUVER, BC / ACCESSWIRE / November 282018 / Tasca Resources Ltd. (“Tasca”, “TAC” or the “Company”) (TSX Venture: TAC) (Frankfurt: 3TA) is pleased to report it’s 2018 diamond drilling campaign has commenced at the Poplar copper property, southwest of Houston, British Columbia. Drilling will initially concentrate on verifying the historic estimate and expanding the limits of the known mineralization along strike and at depth as detailed in the Company’s February 20, 2018 News Release:
- 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.
”We have received our drilling permit after having had to wait out the Nadina Lake forest fire and are delighted to finally get the 2018 drilling program initiated,” stated Tasca CEO Clive Massey. ”Poplar is an advanced stage property with significant exploration upside potential,” continued Mr. Massey. ”Once we analyze results from this first phase of drilling, we plan to aggressively pursue expansion of the copper deposit to increase both the size and the quality of the Poplar copper mineralization.”
Lions Gate Metals (LGM) the prior property owner, commissioned a 2009 deep Induced Polarization (IP) survey in the immediate area of the Poplar deposit to test for depth extension to the main deposit and test for peripheral or additional mineralization in the area of the deposit. Several of these targets remain to be tested.
LGM completed property wide airborne magnetic and electromagnetic surveys in 2009. Several anomalies displaying characteristics similar to known porphyry copper deposits were located across the entire property. LGM subsequently undertook initial till geochemical sampling at a few of the targets with encouraging results.
Investors are cautioned, Tasca Resources Ltd. has not yet verified the exploration data disclosed in this release. That will be the primary objective of the 2018 exploration programs.
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 3-D 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-postmineral 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.
R. Tim Henneberry, P.Geo. (BC) and Tasca’s geologist, is the Qualified Person who has reviewed and approved the technical content of this news release.
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.