Black Tusk Completes Diamond Drilling on Lorrain Property, Quebec & Announces Corporate Changes

Rhea-AI Summary

Black Tusk Resources Inc. has completed diamond drilling on its Lorrain Property in Quebec, totaling 323.3 metres across three holes. The drilling, supervised by VD Géoservice, intersected targeted ultramafic rocks in at least one drill hole. Samples will be taken to ALS Laboratory, with initial results expected in 4 to 6 weeks. Additionally, Roman Rubin has resigned from the Board of Directors, with Renat Mataev taking over as CFO. The company continues to face inherent uncertainties in exploration and financial stability.

Positive

• Completion of 323.3 metres of diamond drilling on the Lorrain Property.
• Ultramafic rocks were intersected in drilling.

Negative

• Exploration and development involve risks and uncertainties.
• Possible need for additional financing.

VANCOUVER, BC / ACCESSWIRE / May 12, 2021 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(FRA:0NB) is pleased to announce that the company has completed diamond drilling on its Lorrain Property located near Lorrainville in west Abitibi greenstone belt of Quebec. The company completed a total of 323.3 metres of diamond drilling over three holes on the property.

The Black Tusk diamond drilling program is supervised by VD Géo Service based in Val d'Or, including Black Tusk company director Dr. Mathieu Piché, OGQ. The geological crew report that the targeted ultramafic rocks were intersected in drilling in at least one of the drill holes.

Drill core from the Lorrain Property will be logged and sampled at the Black Tusk secure facility located near Val d'Or. Samples will be taken directly to ALS Laboratory located in Val d'Or. Drill core and associated samples are continuously under custody of the Black Tusk team members until delivered to the lab. Black Tusk undertakes QA/QC procedures including insertion of blanks and standards at regular intervals into the sample stream.

Initial laboratory results from the Lorrain drill core sampling are expected in 4 to 6 weeks.

In addition to the ongoing exploration drill programs in Quebec, Black Tusk announces the resignation of Roman Rubin from the TUSK Board of Directors. Black Tusk Director, Renat Mataev will assume the role of CFO.

Black Tusk Resources thanks Mr. Rubin for his many years of service on the TUSK Board of Directors and wishes him all the best in his future endeavours.

Cautionary Statement

This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

On behalf of the Board of Directors

Richard Penn
CEO
(778) 384-8923

SOURCE: Black Tusk Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/647052/Black-Tusk-Completes-Diamond-Drilling-on-Lorrain-Property-Quebec-Announces-Corporate-Changes

FAQ

What did Black Tusk Resources announce regarding its diamond drilling?

Black Tusk Resources announced the completion of 323.3 metres of diamond drilling on its Lorrain Property in Quebec.

When can we expect lab results from Black Tusk's drilling?

Initial laboratory results from the diamond drilling are expected in 4 to 6 weeks.

Who is the new CFO of Black Tusk Resources?

Renat Mataev has assumed the role of CFO after the resignation of Roman Rubin from the Board of Directors.

What challenges does Black Tusk Resources face in exploration?

Black Tusk faces risks related to exploration, financing needs, and compliance with regulations.

What type of rocks did the drilling on Lorrain Property target?

The drilling targeted ultramafic rocks, which were intersected in at least one drill hole.