SASKATOON, SASKATCHEWAN–(Marketwired – Feb. 6, 2018) – Tarku Resources Ltd. (TSX VENTURE:TKU) (the “Company” or “Tarku”) is pleased to announce the start of a 12 hole drill program totalling 2,555 meters on the Guercheville project, located adjacent to the Fenton deposit. The purpose is to follow up on the gold and polymetallic surface showings and to test specific areas of chargeability anomalies and magnetic highs that have been identified by SOQUEM over the past few years. The project is located roughly 50 kilometres southwest of the town of Chapais in the Eeyou Istchee- James Bay territory, Québec.
Julien Davy, President of Tarku, commented: “Recent drilling results published by Cartier Resources on the adjacent Fenton project (25 m @ 2.1 g/t Au; see press release from Cartier Resources published on January 31, 2018) are very encouraging and management thinks that mineralization associated with geophysical anomalies extend to the Guercheville project. This highlights the strong potential for discovery.” Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Guercheville project.
Several gold and polymetallic showings have been identified in different parts of the Guercheville Project in the form of sulphide-bearing quartz veins or veinlets and disseminated sulphides, similar to the Fenton deposit (Figure 1). Their spatial distribution suggests the presence of multiple prospective horizons, indicating a robust mineralizing system. The drilling program aims to follow up some of these showings at depth and laterally including:
- Clikendish showing: 124 g/t Au (grab sample) and 20.7 g/t Au over 0.5 m (channel sample);
- Lac Fenton West showing: 19.17 g/t Au (grab sample);
- 17.42 g/t Au, 2.45% Zn (grab sample);
- 4.2 g/t Au, 20.8% Zn (grab sample);
- 6.9 g/t Au, 0.4% Cu (grab sample).
The property is wholly-owned by SOQUEM and Tarku has an option to acquire a 50% interest in the project (see TKU news release January 18th, 2018). Under the terms of the agreement, SOQUEM will be the operator of the work program during the first year and Tarku will have the opportunity to become operator starting the second year.
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
About Tarku Resources Ltd. (TSX VENTURE:TKU)
Tarku Resources Ltd. is an exploration company focused on generating sustainable projects for precious and base metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Tarku holds a 100% interest in all its projects and has an option to acquire a 50% interest in the SOQUEM project. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. The Company has an experienced management team with a successful track record. The goal of Tarku is to provide value for its shareholders through the implementation of strategic property acquisition, innovative exploration techniques and exploration of fertile ground. Management cautions that there is no assurance that past results or discoveries on adjacent or nearby land packages are indicative that the Company will achieve similar results on its projects.
Benoit Lafrance, P.Geo., PhD, Exploration Manager and Director of Tarku, is the qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects who prepared, supervised and approved the preparation of the technical information in this news release.
For more information please visit the Company’s web site.
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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