Black Tusk Provides Additional Disclosures on Its Diamond Drilling Results on Lorrain Property, Abitibi Greenstone Belt, Quebec

Rhea-AI Summary

Black Tusk Resources Inc. announced a clarification regarding its June 21, 2021 press release related to diamond drilling results on the Lorrain Property. The British Columbia Securities Commission required additional disclosures that were not included in the initial release. Perry Grunenberg, a qualified person, reviewed and approved the updated data, including core sample intervals and analytical results. The company also issued cautionary statements about the uncertainties and risks tied to exploration and development activities.

Positive

• Perry Grunenberg, a qualified person, has approved and reviewed the drilling data, indicating credibility in the results.

Negative

• The initial press release failed to meet the disclosure requirements under National Instrument 43-101, potentially impacting investor trust.
• Risks associated with exploration and development remain significant, affecting the future performance of the company.

VANCOUVER, BC / ACCESSWIRE / July 6, 2021 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC PINK:BTKRF)(FRA:0NB) announces that as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its disclosure.

News Release dated June 21, 2021
In the Company's news release dated June 21, 2021 (the "June 21 Press Release"), the Company did not provide the necessary information required under sections 3.2 and 3.3 of National Instrument 43-101 with respect to the results of its diamond drilling on the Lorrain Property.

The following disclosures should be read in conjunction with the June 21 Press Release:
Perry Grunenberg, P.Geo, a "Qualified Person" as that term is defined under NI 43-101, has reviewed the data disclosed in the June 21 Press Release, including core sample intervals and corresponding analytical results as presented. Mr. Grunenberg personally assembled and tabled results, including QA/QC results from standard and blank materials inserted into the core sample stream.

Mr. Grunenberg has reviewed and approved the technical information contained in this news release and the June 21 Press Release. Mr. Grunenberg is a former Director of the Company, and continues to act as an advisor to the Company.

On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923

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.

SOURCE: Black Tusk Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/654442/Black-Tusk-Provides-Additional-Disclosures-on-Its-Diamond-Drilling-Results-on-Lorrain-Property-Abitibi-Greenstone-Belt-Quebec

FAQ

What did Black Tusk Resources announce on July 6, 2021?

On July 6, 2021, Black Tusk Resources clarified disclosures related to its diamond drilling results on the Lorrain Property due to requirements from the British Columbia Securities Commission.

Who reviewed the diamond drilling data for Black Tusk Resources?

Perry Grunenberg, P.Geo, a qualified person, reviewed and approved the diamond drilling data disclosed by Black Tusk Resources.

What are the risks mentioned by Black Tusk Resources?

The risks include uncertainties related to exploration and development, obtaining financing, and compliance with regulations, as stated in their cautionary statement.

How can I find more information about Black Tusk Resources' announcements?

Additional information can be found in their press releases available on their official website or on platforms like SEDAR.