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  • Mr. Richard Penn


Mr. Richard Penn reports


A diamond drill rig is being mobilized on Black Tusk Resources Inc.'s McKenzie East gold property located north of Val d'Or, Que. The drilling contractor is currently mobilizing onto the first drill site following ground preparation.

Black Tusk has signed a contract with Forage Val d'Or for 2,500 metres of drilling on the McKenzie East project. Forage Val d'Or is a locally based contractor with knowledge and experience of drilling within the region. Drill targets, which have been summarized in prior news releases, include a combination of results obtained from soil sampling, magnetic surveying, IP (induced polarization) surveying and geological reconnaissance.

A total of nine drill pads have now been prepared to allow for alternative site selection as drilling progresses. Five primary targets were identified for initial drilling, with possible extension to the program following positive results. The company is permitted for up to 23 drill sites on the property.

The McKenzie Break project is within two kilometres west of the Black Tusk property. In June, 2018, Monarch Gold Corp. reported a pit-constrained indicated resource of 939,860 tonnes grading 1.59 grams gold, and an underground indicated resource of 281,739 tonnes averaging 5.90 grams gold on the McKenzie Break (National Instrument 43-101 technical report on the McKenzie Break project, April 17, 2018, Alain-Jean Beauregard, PGeo, and Daniel Gaudreault, Eng, of Geologica Groupe-Conseil Inc. and Christian D'Amours, PGeo, of GeoPointCom Inc.). The reader is cautioned that resources that exist on adjacent properties are not necessarily indicative of potential on the Black Tusk-McKenzie East project.

The Black Tusk winter 2021 diamond drilling program is supervised by VD Geo Service based in Val d'Or, as well as the company's director, Dr. Mathieu Piche. Core logging and sampling will be undertaken at a private facility, located adjacent to the property. The first core is expected to be at the processing facility within the week.

The company also announces that it has engaged AG for European marketing awareness services that are expected to be provided in the first quarter of 2021. The consultant has received 50,000 euros for these services. The company also issued 500,000 stock options to the owner of the consultant. The options are exercisable at a price of 7.5 cents per share for a three-year term. The options and any shares upon exercise of the options are and subject to a four-month hold period from the date of grant. Aside from the stock options, the consultant does not directly or indirectly hold any securities of the company.

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

We seek Safe Harbor.

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