BLACK TUSK STAKES TWO PD PROPERTIES IN QUEBEC
Mr. Richard Penn reports
BLACK TUSK ACQUIRES TWO PALLADIUM (PGE) PROPERTIES IN QUEBEC
Black Tusk Resources Inc. has acquired two palladium/platinum group element (PGE) properties in Quebec. The properties were acquired directly by the company through the Quebec staking process. Both properties were staked to cover geological and geophysical features that are interpreted as being conducive to PGE deposition.
The first property acquired is the PG Highway project which comprises 11 claims totalling 601.11 hectares. The claims are located along Highway 397, 22 kilometres north of Val d'Or, Que. The PG Highway property adjoins claims that cover the Lynx and La Tour PGE mineral showings. The Lynx showing is located approximately 3.5 km north of the PG Highway property. At the Lynx, selected samples returned grades up to 1,895 parts per billion combined platinum (Pt) and palladium (Pd). The two best results returned 1,365 ppb Pd and 530 ppb Pt (sample 828583) and 1,050 ppb Pd and 340 ppb Pt (sample 828575) (assessment report GM 61266). The La Tour showing is located 300 metres east of the Lynx. At the La Tour showing, samples returned up to 5,139 ppb Pd and 1,589 ppb Pt (GM 60468 and GM 61303). The reader is cautioned that results obtained on adjoining properties are not necessarily indicative of potential for similar results on the Black Tusk-PG Highway claims.
The second Black Tusk PGE property acquired is the Lorrain project, comprising eight claims totalling 466.67 hectares. This property is located along Highway 391 approximately one kilometre south of Lorrainville, Que. The property covers the Guimond-Church deposit. This deposit was found in outcrop and has been intersected by two diamond drill holes. The deposit is categorized as tabular nickel-chromium (Ni-Cr) mineralization hosted in an ultramafic intrusive which generates a strong magnetic anomaly (GM 54730). Two 1954 vintage drill holes intersected serpentinized peridotite injected with quartz veins. Core samples returned 0.48 per cent Cr and 0.27 per cent Ni (best intersections of holes 1 and 2, GM 02994). Sample results also indicate the presence of platinum group elements, including 19 ppb palladium and 59 ppb ruthenium.
The Black Tusk-Lorrain property is located within a region endowed with a variety of mineralization styles. Many of these were explored for copper, but have recently been recognized for platinum group elements. This includes the Alotta project located approximately 10 kilometres northeast of the Black Tusk-Lorrain. At the Alotta, a 2019 drilling program confirmed the continuity of wide zones of nickel-copper-platinum group elements in massive sulphides. The drilling returned a highlight of 22 per cent copper, 34 g/t palladium, 3.5 g/t platinum, 0.78 per cent nickel, 1.4 per cent zinc and 65 g/t silver over 0.5 metre from hole ZA-19-05 (Chase Mining Corp. Ltd. website, Dec. 3, 2019, news release). The reader is cautioned that results obtained from other properties in the region are not necessarily indicative of potential on the Black Tusk-Lorrain property.
Black Tusk continues to show its commitment to exploration in the province of Quebec. The company now owns five mining projects that have potential for gold and/or palladium/platinum (PGE) mineralization.
"We have acquired these two new PGE properties in response to a world shortage as well as recent record-setting prices of rhodium, platinum and palladium. Virtually all electronics, including cellphones and computers, contain PGE in their circuitry as well as all automobile catalytic converters. Black Tusk is excited to start exploring these two new projects," stated Richard Penn, Black Tusk Resources chief executive officer.
Both of the newly acquired PGE properties of Black Tusk are readily accessible on major highways. The company plans to compile all available information for these two palladium/platinum (PGE) projects in order to plan future exploration. Data compilation and GIS plotting are expected to be completed in the following weeks.
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.
We seek Safe Harbor.