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Tarku Resources Ltd TRKUF


Primary Symbol: V.TKU

Tarku Resources Ltd is a Canada-based mining exploration company focused on advancing the development of new discoveries in mining jurisdictions, such as Quebec and Arizona. In Arizona, the Company owns 100% of the 29 square kilometers (km2) Silver Strike project. Silver Strike project is situated within the Tombstone District. In Quebec, the Company owns 100% of the Three A's exploration projects (Apollo, Admiral and Atlas) in the Matagami Greenstone Belt. Additionally, the Company maintains its exploration efforts across its other 100% owned projects in Quebec, strategically located along regional shear zones and areas with known mineralization of gold, copper, zinc, nickel, or lithium. The Company’s Dana Project is located in Quebec. In addition, the Company owns the MAX Lithium project, located five km southwest of Sayona Mining's North American Lithium mine. The Company has 25,000 hectares of mining titles in Quebec and 2,900 hectares in Arizona.


TSXV:TKU - Post by User

Post by MarketGainson Jun 03, 2021 10:11am
440 Views
Post# 33318295

Tarku Reports High Grade Drilling Results @ Silver Strike

Tarku Reports High Grade Drilling Results @ Silver Strike

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Tarku Reports High Grade Drilling Results of up to 1,515 g/t Ag Equivalent over 1.5 m at Silver Strike in Arizona

 

 Tarku Resources Ltd (TSX-V: TKU – FRA: 7TK – OTCQB: TRKUF) (the “Company” or “Tarku”) is pleased to announce additional results from its 2021 drill program on the high-grade Silver Strike Project in the Tombstone District of Arizona (the “Project”). Significant results include 720 g/t silver, 6.44 g/t gold, 5.08% lead and 5.05% zinc or 1,515 g/t silver equivalent (AgEq) over 1.5 m in hole SS21-007 targeting north-south structure located in the historic Lucky Cuss mine area.

Julien Davy, President and CEO of Tarku, stated: “we are extremely pleased with the early results of our Silver Strike drill program. The silver equivalent numbers this close to the surface, far exceeded our expectations. Additionally, presence of gold, lead and zinc, at such high grades was unexpected and welcomed. To date we have received the lab results for 10 out of 23 drill holes, providing us already with a much clearer picture of the geological setting of our Silver Strike project. There are too many high-grade spikes of different metals at different locations over the project to assume coincidence, thus we strongly speculate presence of a large Carbonate Replacement system feeding all various spikes.”

“This mineralisation is within the same stratigraphic package and shows significant similarities in terms of geological context to the nearby Hermosa project which in 2018 was purchased by South32 for $1.8 billion.”

Tarku’s first drill program on the Silver Strike project was completed on May 28, 2021. The program totaling 8,921 feet aimed to test the potential of high-grade silver in 5 different zones (see Table 1 & 2):

  • the north-south structures (Lucky Cuss Fault) around the Lucky Cuss, Luck Sure and East Side historic mines areas,
  • the east-west structure (Prompter Fault) around the Bunker Hill historic mine area,
  • the regional north-east structure around the Ground Hog historic mine,
  • the west extension of the east-west Prompter fault and
  • the Solstice and Ace-in-the-Hole historic mines areas (see Figure 1).

The results received to date include the first 10 holes (SS21-001 to SS21-010) targeting the first two zones described above. Sampling methodology included taking of 5 ft long samples and all results are reported as an average grade over 5 ft.

Holes SS21-006 and SS21-007, revealed that the targeted Lucky Cuss structure encounters several high-grade mineralized zones that appear to be dipping at low angle (to sub-horizontal) within the north-south structure. If proven, this unexpected flat vein orientation within steeply dipping structures could help the Company to better target its future exploration programs. Hole SS21-007 intersected an interesting 3 meters grading 397 g/t Ag, 3.85 g/t Au, 0.20% Cu, 2.73% Pb and 2.70% Zn or 855 g/t AgEq at the depth of 6.1 meters showing the high-grade potential of the Lucky Cuss veining system. As shown in Table 1, the same hole also intersected 1.5 m grading 180 g/t AgEq at 15.2 meters depth and 1.5 m grading 264 g/t AgEq at 74.7 meters depth supporting the stacking interpretation of several high-grade veins within the same Lucky Cuss structure.

The variety of mineralization within the sediments at Lucky Cuss suggest that the Carbonate Replacement Deposit (CRD) model could be more extensively spread over the Silver Strike property than originally expected and that the limits have not yet been found. CRD are typically high-temperature carbonate-hosting Ag-Pb-Zn deposit formed by the replacement of sedimentary, usually carbonate rock, by metal-bearing solutions in the vicinity of igneous intrusions that play the role of heat source. With some local variations, ore body geometries could vary from chimneys to veins to blanketlike body along the bedding plane of the rock, it is then commonly called a manto. Those Polymetallic replacements/mantos are often stratiform wall-rock replacement orebodies distal to porphyry deposits (copper or molybdenum).

Figure 1: Location Map – News Release June 3rd, 2021 (See full size Figure 1)

Table 1 below lists the best assays results received to date and utilizes samples with over 5 g/t Ag and over 0.05 g/t Au. Due to the presence of some significant gold and base metals results, a silver equivalent index (AgEq) was calculated using the criteria described below, Table 1. Once all results have been received, Tarku will be in an excellent position to plan the future exploration programs that will encompass soil geochemistry, geophysics surveys, and a more significant and targeted drill programs.

Table 1: Drill Hole Best Assay Results updated as of this date - News Release June 3rd, 2021.

Hole Target From (m) To (m) Width (2)(m) Ag(g/t) Au(g/t) Cu(%) Pb(%) Zn(%) Ag Eq (1)(g/t) Mn(%)
SS21-001 Lucky Cuss 3.0 18.3 15.2 4 0.03       6 0.27
SS21-002 Lucky Cuss 0.0 3.0 3.0 12 0.26 0.09 0.27 0.49 63 0.26
SS21-003 Luck Sure 47.2 48.8 1.5 38 0.23   0.19 0.09 62 1.02
SS21-004 East Side 67.1 73.2 6.1 136     0.09   138 2.68
  incl. 70.1 73.2 3.0 214     0.09   216 3.87
SS21-004 East Side 80.8 86.9 6.1 24         24 0.79
  incl. 82.3 86.9 4.6 28     0.19 0.25 41 0.83
SS21-005 East Side 123.44 128.02 4.6 24 0.30 0.06 0.20 0.25 66 0.33
  incl. 123.4 126.5 3.0 22 0.39 0.10 0.22 0.33 77 0.44
SS21-006 Lucky Cuss 56.4 67.1 10.7 20 0.34 0.02 0.20 0.16 57 0.46
  incl. 56.4 59.4 3.0 17 0.75 0.06 0.39 0.36 100 0.36
SS21-007 Lucky Cuss 4.6 22.9 18.3 99 0.86 0.05 0.61 0.47 198 0.55
  incl. 6.1 9.1 3.0 397 3.85 0.20 2.73 2.70 855 0.84
  incl. 7.6 9.1 1.5 720 6.44 0.34 5.08 5.05 1 515 1.11
SS21-007 Lucky Cuss 15.2 22.9 7.6 55 0.37 0.04 0.08 0.03 89 0.33
  incl. 15.2 16.8 1.5 80 1.03 0.18 0.07 0.06 180 0.50
SS21-007 Lucky Cuss 74.7 76.2 1.5 203 0.31 0.19 0.26 0.38 264 4.79
SS21-008 Bunker Hill 51.8 53.3 1.5       0.20 0.10   0.45
SS21-009 Bunker Hill 10.7 16.8 6.1 13     0.03 0.01 14 0.12
  incl. 13.7 15.2 1.5 24 0.08   0.11 0.05 34 0.25
SS21-009 Bunker Hill 74.7 76.2 1.5 67 0.30 0.07 1.28 0.55 144 2.61
SS21-010 Bunker Hill 96.0 97.5 1.5 11 0.07   0.29 0.14 27 0.85
SS21-011 Ground Hog Assays pending                  
SS21-012 Ground Hog Assays pending                  
SS21-013 Ground Hog Assays pending                  
SS21-014 Ground Hog Assays pending                  
SS21-015 Ground Hog Assays pending                  
SS21-016 Ground Hog Assays pending                  
SS21-017 Ground Hog Assays pending                  
SS21-018 Sunset Assays pending                  
SS21-019 Sunset Assays pending                  
SS21-020 Ace in the Hole Assays pending                  
SS21-021 Ace in the Hole Assays pending                  
SS21-022 Solstice Assays pending                  
SS21-023 Solstice Assays pending                  

  • Ag Equivalent (AgEq): Only samples with over 5g/t Ag and over 0,05g/t Au were used - Prices of $24/oz silver, $1,800/oz gold (ratio Au:Ag = 65:1), $4,0/lb copper (ratio Cu:Ag = 0,01:1), $0.90/lb lead (ratio Pb:Ag = 0,002:1) and $1.2/lb zinc (ratio Zn:Ag = 0,003:1) were used for equivalent calculations. 100% recoveries have been considered as no metallurgical study has been made yet.

  • Intervals shown are drill intercept, true thickness cannot be calculated yet.


Table 2: Final Drill Hole Locations – News Release June 3rd, 2021

Hole Target Azimuth Dip Length drilled (ft) Length drilled (m) Coord_X (utmZ12N) Coord_Y (utmZ12N)
SS21-001 Lucky Cuss 135 50 400 121.9 587 665 3 507 708
SS21-002 Lucky Cuss 95 50 439 133.8 587 670 3 507 713
SS21-003 Luck Sure 95 50 525 160.0 587 516 3 507 262
SS21-004 East Side 95 50 292 89.0 587 614 3 507 537
SS21-005 East Side 95 56 435 132.6 587 614 3 507 537
SS21-006 Lucky Cuss 95 55 220 67.1 587 670 3 507 711
SS21-007 Lucky Cuss 95 90 325 99.1 587 665 3 507 710
SS21-008 Bunker Hill 325 50 440 134.1 588 841 3 506 511
SS21-009 Bunker Hill 325 50 255 77.7 588 732 3 506 481
SS21-010 Bunker Hill 325 60 400 121.9 588 732 3 506 481
SS21-011 Ground Hog 140 50 315 96.0 586 005 3 504 576
SS21-012 Ground Hog 140 60 400 121.9 586 006 3 504 577
SS21-013 Ground Hog 135 50 550 167.6 586 124 3 504 716
SS21-014 Ground Hog 145 60 360 109.7 586 122 3 504 719
SS21-015 Ground Hog 135 50 580 176.8 586 061 3 504 636
SS21-016 Ground Hog 135 60 320 97.5 586 068 3 504 638
SS21-017 Ground Hog 212 60 440 134.1 585 997 3 504 578
SS21-018 West Rattlesnake 140 55 435 132.6 586 291 3 506 430
SS21-019 West Rattlesnake 140 55 270 82.3 585 472 3 505 915
SS21-020 Ace in the Hole 140 55 160 48.8 585 950 3 507 778
SS21-021 Ace in the Hole 140 80 340 103.6 585 949 3 507 778
SS21-022 Solstice 145 55 440 134.1 585 616 3 507 804
SS21-023 Solstice 140 70 580 176.8 585 616 3 507 804
      TOTAL 8,921 2,719.1    

Qualified persons

Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, prepared, supervised and approved the technical information in this news release.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.

Tarku Contact Information:

Email: investors@tarkuresources.com

Website: www.tarkuresources.com

Suivez @TarkuResources sur LinkedInFacebookTwitter et Instagram.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.


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