press release
Published March 1, 2023
- The MAX Lithium property sits in the same batholith and geology as Quebec’s only operating lithium mine, the North American Lithium Mine, just 4km southwest of it
- 19 kilos2 Property with road access surrounded by a show of spodumene-rich pegmatites and hosting several outcrops with as yet untested potential
- Exploration program will start soon and will include detailed mapping and sampling to prepare the next drill target
Montreal, QC / Accesswire / 1 March 2023 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (“Company” or “Tarku”) has 28 bonds (19.25 km2) forms MAX Lithium Properties from Prospectors (“Vendors”). The facility is located in Quebec, Canada, 45 km north of Val-d’Or and 4 km southwest of Sayona Mining’s North American lithium mine (1.2 million tonnes proven reserve, grade 0.92% lithium).2O and probable reserves of 28 million tons, grade 0.96% Li2O (Source: Company press release dated May 23, 2022)).
Tarku Resources President and CEO Julien Davy said: “This agreement provides significant new opportunities for Tarku shareholders in the growing global lithium market. Québec is the only producing lithium mine in the area around which spodumene-rich pegmatites can be found.Another interesting fact about this property is its prime location. Nonetheless, it’s something that seems to have been overlooked by past explorers.
“This new lithium project also complements our portfolio of high-quality gold and silver assets located in Quebec and Arizona, which has remained active this year and is often overlooked and easily accessible. It fits with Tarku’s well-established exploration strategy of exploring for: an area of strong geological potential in a safe jurisdiction,” Davey added.
Overview of transaction related to acquisition of MAX Lithium property
Tarku will acquire a 100% interest in the MAX Lithium property by issuing 4 million shares of the company’s common stock (1/4 share over 4 months and 1 quarter over 8 months). , 1 quarter by 12 months and last 16 months by quarter). The Company will submit all necessary documents in connection with this transaction to the TSX Venture Exchange (“TSXV”) for final approval.
Max Lithium property location
Figure 1: Talc’s MAX Lithium property location in La Corne Batholis, 4 km from North America Lithium’s operations.
Other major project updates
The company is also actively working on other major projects.
At the wholly-owned Silver Strike project in Arizona, Tarku will conduct geophysical surveys in 2022 and is currently finalizing plans for its 2023 exploration program. This includes surface mapping of new targets generated and possible drilling programs according to market conditions. His MAG data from the 2022 survey are the first recent geophysical data for the region, successfully discovering his Tarku target at Silver Strike, a carbonate displacement deposit (CRD). used for
In Quebec, at the wholly owned Apollo Gold project, Tarku completed its first drilling program of 3,048 meters on the extension of the Sunday Lake fault. Visual inspection of the cores revealed intensive hydrothermal alteration in a style resembling orogenic gold deposits and fine-grained seeded pyrite, pyrrhotite, sphalerite, and sphalerite observed at intervals up to 45 m thick. Both copper-related magmatic alterations, including hematization, carbonation and sericitation, are revealed. Assay results are still pending but expected soon.
Funding Notice
Tarku also announced that it is conducting an unbrokered private placement for units up to $280,000.
Subject to unit placement, Tarku offers up to 4,000,000 Units (“Units”) at a price of $0.07 per Unit. Each unit represents one share of common stock that entitles the holder to acquire one additional share of common stock in the Company’s capital at a price of $0.12 per share for a period of twenty-four (24) months from the date the unit is issued. consists of one Stock Purchase Warrant. Funding proceeds are used for general working capital purposes.
The Company will submit all required documents to the TSX Venture Exchange in connection with this transaction for final approval.
Grant of stock options
The Board of Directors has approved the grant of 3,440,000 stock options pursuant to the Company’s Stock Option Plan. Options are granted to our directors, officers and consultants and are exercisable at a price of $0.10 per share. If not exercised, it will expire on February 28, 2027, but will expire earlier in accordance with the Stock Option Plan and applicable policies of the TSX Venture Exchange.
qualified person
Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, qualified under National Instrument 43-101 for Disclosure Standards for Mineral Projects, and prepared the technical information for this document , supervised, and approved. news release.
About talc
Tarku Resources Ltd. (TSXV:TKU | FRA:7TK | OTCBQ:TRKUF) is focused on advancing the development of new discoveries using the latest technology in lucrative mining jurisdictions such as Quebec and Arizona. A mining exploration company.
Within Arizona’s famous Tombstone District, Talc owns 100% of 29 km.2 Silver Strike Project. Silver Strike is a potential similar carbonate replacement deposit (CRD) comparable to the Hermosa project, located 80 km west of Santa Cruz County, Arizona, which South32 acquired for his US$1.8 billion in 2018. It is interpreted by management that there is.
In Quebec, Tarku owns 100%.Three AThe Matagami Greenstone Belt ‘Apollo, Admiral, Atlas Project’ exploration project has been interpreted by the manager as an eastern extension of the circuitous belt following recent successful exploration by Midland Exploration, Wallbridge Mining Company and Probe Metals. it was done. In addition, the company owns the MAX Lithium Project, located 4 km southwest of Sayona Mining’s North American lithium mine.
On behalf of Tarku Resources Ltd
Julian Davy
Representative Director and President
Talc contact information:
Email: [email protected]
Website: www.tarkuresources.com
Follow @TarkuResources on LinkedIn, Facebook, Twitter, and Instagram.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that involve known and unknown risks and uncertainties that could cause actual results and activities to differ materially from the targeted results and plans. Such risks and uncertainties include those described in Tarku’s periodic reports, including its annual reports, or other documents Tarku files with securities regulators from time to time.
sauce: Talc Resources Co., Ltd.
View source version on accesswire.com:
https://www.accesswire.com/741320/Tarku-Acquires-100-of-the-MAX-Lithium-Property
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