Vancouver, British Columbia--(Newsfile Corp. - November 3, 2020) - Black Tusk Resources (CSE: TUSK) (OTC Pink: BTKRF) (FSE: 0NB) is securing contracts for diamond drill programs on minimum of two of its five 100% owned mineral projects in Quebec.
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Three of these properties, the McKenzie East, the PG Highway, and the MoGold, are located to the immediate north of Val d'Or. The other properties are the Golden Valley gold property, which underwent diamond drilling in 2019, and the Lorrain PGE property south of Lorrainville, Quebec.
The McKenzie East Gold Property, the company's flagship gold project, comprises 2 claim groups separated by 1 kilometer. Black Tusk has completed a drone magnetics survey, a Mobile Metal Ion (MMI) soil geochemistry survey, and 3D Induced Polarization survey, which combined with the historic diamond drilling results, have located priority targets for diamond drill testing.
With the current permit allowing for 18 drill pads on the property, the company plans to undertake a minimum of 2,000 metres of diamond drilling this winter. This property was originally acquired because of its prospective geologic setting, easy access, historic drilling, and proximity to the McKenzie Break Property of Monarch Gold.
The MoGold gold prospect was staked to cover the Boily-Bérubé mineral showing that is documented as a vein deposit with pyrite, chalcopyrite, and molybdenum. The property contains several historic diamond drill holes, one of which reported elevated bismuth and molybdenum in a granitic host rock. Exploration is expected to be undertaken on the MoGold in 2021.
Black Tusk owns 100% of two platinum-palladium group element projects in Quebec. The most promising of these is currently the Lorrain property, which was drilled in 2001, with drill logs reporting very significant intercepts of multiple elements including platinum, palladium, silver, copper and nickel hosted in ultramafic intrusive rocks. A weighted average calculation based upon the data provided gives 13.2 metres of just below 1 gram per tonne combined platinum and palladium, with 3 grams per tonne silver, 0.59 percent copper and 0.6 percent nickel. Black Tusk has submitted a permit application, with drilling planned for this winter to test this historic drill hole for verification and is proposing to drill step-out holes to test continuity within the 7-kilometre trend of host ultramafic rock.
The PG Highway PGE project was staked to cover documented historic drill-hole 8712-2. Drill logs for this hole indicate that it intercepted 9.4 metres of massive pyrite and pyrrhotite within basaltic rocks. This historic drill hole is under discussion for possible follow-up to verify the geology and to sample the reported massive sulphide interval by diamond drilling.
The company is fully funded having recently closed an oversubscribed non-brokered private placement for gross proceeds of $2,368,606, which included $204,000 of flow through financing and $2,164,606 of non-flow through financing.
Roman Rubin, CFO, stated: "Now that Black Tusk is fully funded for multiple drill programs on our Quebec properties, we are excited to be very active on these projects this coming Winter."
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Barry Morgan, CFO
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