VANCOUVER, BC / ACCESSWIRE / January 10, 2019 / Tasca Resources Ltd. (“Tasca” or the “Company”) (TSX.V:TAC, FSE:3TA) is pleased to announce the completion of an airborne survey of its entire 14,650 hectare Princeton Gold Property.The survey was funded by joint venture partner Canarc Resource Corp.Results from the survey will be released once the report and data have been received from geophysical contractor Peter E.Walcott and Associates Ltd.
Tasca acquired the Princeton Gold Property in September 2016 to further explore 2010 and 2011 discoveries, where float grab and in-place quartz rock sampling documented 25 of 37 samples returning gold values in excess of 1,000 parts per billion 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.
Tasca subsequently completed a fall 2018 excavator trenching program (see TAC News Release dated 26-November-2018) tracing the 2010 and 2011 in place quartz veining and boulder over 120 metres along strike.Highlights from the program include:
- The most significant result from this program is a quartz vein assaying 217 grams per tonne gold over 0.9 metre.A second sample three metres along the vein ran 99.7 g/t gold also over 0.9 metre.
- Two angular quartz float samples assayed 115.5 g/t gold and 108.5 g/t Au.
- The 2018 trenching program combined with the 2011 surface program has resulted in the collection of 53 in-place or angular quartz vein samples.Thirty-eight of the samples exceeded one g/t gold, with 24 of the 38 exceeding 10 g/t gold to a maximum of 217 g/t gold.
- The zone was traced over 120 metres; overburden exceeded the six-metre reach of the excavator.
Tasca cautions investors float samples are grab samples and may not be representative of mineralization on the Princeton property.
Based on the excavator trenching results, Tasca initiated a staking program expanding the property size from 4,013 hectares to 14,650 hectares.Tasca then entered in to the option agreement with Canarc to fast track exploration on the property.Canarc and Tasca agreed the next step was to evaluate the entire property package, looking for repeats of the quartz vein zones.The airborne magnetic survey was then initiated.
The Princeton Gold Property is underlain by both Eocene Princeton Group volcanics and Triassic Jurassic Nicola Group volcanics.While there is little historical evidence of mineral discoveries in the Princeton Group volcanics, recent mapping by the British Columbia Geological Survey and by Tasca geologists suggests the quartz vein mineralization is hosted or intimately related to the Princeton volcanics.
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
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
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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.