VANCOUVER, BC / ACCESSWIRE / May 6, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(Frankfurt:0NB) is pleased to announce the addition of claims adjoining the company's Lorrain Palladium/Platinum Group Element (PGE) property in Quebec. The new PGE claims were staked to cover prospective geological and geophysical features and historic drill holes that returned elevated platinum, palladium, copper, nickel and silver values.
An additional 15 claims totalling 755.61 hectares were added to the claim block, making the complete property now covering 1,222.28 hectares in 23 claims.
The Lorrain Property is located along Highway 391 south and east of the community of Lorrainville, Quebec. 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% Cr and 0.27% 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 newly acquired claims cover an area that was tested by diamond drilling in 2002. Assessment report GM60923 summarizes work undertaken by Exploration Tom Inc. which included drill hole LA-01-06. This drill hole intersected gabbroic ultramafic rocks. Drill core sampling returned significant results for platinum (Pt) and palladium (Pd), including a 13.2 metre intercept of weighted average 0.457 gpt Pt with 0.433 gpt Pd, including 1.5 metres grading 1.02 gpt Pt and 0.79 gpt Pd . Very significant silver, copper and nickel values accompany the elevated PGE group elements. The reader is cautioned that Black Tusk has not yet undertaken work on this property, and cannot verify results posted in reporting of historic work, including the diamond drilling summarized herein.
A summary of this drill hole location and orientation, and a table of results, is provided below.
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 north-east 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% copper, 34g/t palladium, 3.5g/t platinum, 0.78% nickel, 1.4% zinc and 65 g/t silver over 0.5 metres from Hole ZA-19-05 (Chase Mining Corporation Ltd website December 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 is continuing data compilation and assessment of their Quebec-based projects, including the Lorrain Property.
The Company also announces that it has settled outstanding debt of $82,700 by issuing 1,654,000.00 common shares of the Company at a price of $0.05 per share. These shares are subject to a four month and one day hold from the date of issuance.
Perry Grunenberg, P.Geo, 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.
About Black Tusk Resources Inc.
Black Tusk Resources is gold-focused Canadian exploration company with operations primarily based in the world class Abitibi Greenstone-belt region of Quebec. Black Tusk currently holds 100% ownership in 5 separate mining projects in Canada.
For more information on these gold and palladium projects, please visit our website www.blacktuskresources.com
On behalf of the Board of Directors
Richard Penn CEO (778) 384-8923
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control.
There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Figure 1 - Google Earth image with locations of Black Tusk PGE properties
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