• Mr. Richard Penn


Updated: May 31, 2019

Mr. Richard Penn reports


Black Tusk Resources Inc. has begun the process to acquire permits for a drill program on its Golden Valley Project located in Quebec.

Black Tusk has recently compiled data from historic work completed within the property. The property area has been the focus of a number of geochemical, geophysical and geological programs documented in reports dating from 1967 through to 2004. A number of anomalies were outlined by this work.

Diamond drilling of various targets by different exploration companies culminated in 30 drill holes totalling 4,086.9 metres being drilled within the Golden Valley Project. Several of these drill holes intercepted significant gold-bearing formations. All of the historic documentation provides a database that is of great use moving forward with continued exploration of the project.

The exploration permit application will include the construction of 15 drill pad locations with supporting road access. These drill stations will allow for the testing of two gold-bearing structures as described in the historic documentation (targets I and II ). The proposed drilling pads are adjacent to existing logging access roads.

Target I proposed drilling is designed to verify and expand upon the presence of a gold-bearing shear zone intercepted in prior drill programs. A total of five historic drill holes over a strike length of 600 metres intercepted the gold-bearing shear, including hole LAB87-B2, which reported:

  • 0.91 gram per tonne gold over 13.3 metres (51.3 metres to 64.6 metres);

  • Including 1.82 grams per tonne gold over 4.5 metres from 57 metres to 61.5 metres, including:

  • 1.4 grams per tonne gold from 57 metres to 58.5 metres;

  • 2.15 grams per tonne gold from 58.5 metres to 60 metres;

  • 1.90 grams per tonne gold from 60 metres to 61.5 metres.

These results were also reported in a previous news release dated March 19, 2019.

Ten drill holes over a one-kilometre strike length are proposed to test target I.

Target II proposed drilling is designed to verify and expand upon the presence of gold-bearing iron formation intercepted in prior drill programs. A magnetic-high linear passes through the area of drilling where Noranda Inc. completed a two-hole drill program in 2004. Its reports indicate that hole LAB109-03-01 returned significant values of gold, including:

  • 1.40 grams per tonne gold from 51.3 metres to 52 metres in massive basalt, 5 per cent to 10 per cent pyrrhotite, and trace chalcopyrite;

  • 1.06 grams per tonne gold over 3.8 metres from 107.3 metres to 111.1 metres, including:

  • 0.51 gram per tonne gold from 107.3 metres to 108.2 metres in iron formation within basalt;

  • 0.99 gram per tonne gold from 109.5 metres to 110.2 metres in iron formation within basalt;

  • 2.49 grams per tonne gold from 110.2 metres to 111.1 metres in iron formation within basalt;

  • 0.32 gram per tonne gold from 111.1 metres to 112.1 metres in iron formation within basalt.

Five drill holes over a 1.2-kilometre strike length are proposed to test Target II.

Black Tusk notes that not all pads proposed in the drilling permit will necessarily have diamond drilling completed, since continued drilling will be somewhat dependent upon the results of each drill hole at each of the target areas.

The company hereby notes that true intercept widths for the drill hole results shown herein have not been calculated. The company has yet to conduct any work on the property and has not been able to directly verify the exploration results as documented in these historic reports.

The Golden Valley Project is located 26 kilometres south of Hecla Mining Corp.'s Casa Berardi mine and lies within the Abitibi greenstone belt, which is host to many world-class mineral deposits. The area surrounding the Golden Valley Project drew renewed attention in the 1980s following the Inco Exploration discovery of gold mineralization at the Golden Pond project and the gold-silver-zinc-copper discovery at Estrades by Teck Resources.

"We are very pleased with the progress so far on the Golden Valley Project. Permitting for a drill program is under way, which will allow for continued testing of targets outlined by previous work done. Historic exploration has outlined two important structures where past drilling returned significant gold values, providing immediate targets for future drilling," said Richard Penn, chief executive officer of the company.

Perry Grunenberg, PGeo, a qualified person as that term is defined under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Grunenberg is also a director of the company.

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