Black Tusk Resources Inc. to Change Name to Q Battery Metals Corp
Black Tusk Resources Inc. has announced a planned name change to Q Battery Metals Corp., along with a new trading symbol QMET, pending Canadian Securities Exchange approval. This change reflects the Company's focus on exploration of lithium and other minerals in Quebec.
The Company highlights several projects:
- Pegalith Project: Potential for lithium with historic resources nearby.
- Mogold Project: Targeting lithium and VMS deposits.
- PG Highway: Area identified for massive sulphide mineralization.
- Lorrain: Interest in platinum and nickel.
- McKenzie East: Previous drilling indicated gold presence.
- Name change reflects a strategic shift towards battery metals exploration, which may attract investor interest.
- Pegalith Project has proximity to historic lithium resources, indicating potential for future discovery.
- Mogold Project is positioned near active mining operations, enhancing its exploration credibility.
- Completion of multiple geophysical surveys indicates proactive exploration efforts.
- The change in name and focus may create uncertainty for existing investors about the Company's direction.
- Historic mineral resources cited may not reflect current potential, posing risks for investor expectations.
VANCOUVER, BC / ACCESSWIRE / February 28, 2023 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK) is pleased to announce that it plans to change its name to "Q Battery Metals Corp." and the trading symbol will change to "QMET". The change of name is subject to acceptance of the Canadian Securities Exchange.
The new name is reflective of the Company's portfolio of properties in Quebec that are currently being explored for potential lithium, copper, nickel, cobalt, zinc molybdenum, and platinum group elements. A summary of those projects is provided below.
PEGALITH PROJECT - Lithium
The PEGALITH project was recently acquired by the Company. The claims were staked to cover historic mineral showings that are hosted in coarse mica and feldspar pegmatites. The pegmatite minerals were small scale mined as industrial minerals. The historic Mine Leduc, located approximately six kilometres southwest of the PegaLith property, contains a small lithium-bearing resource (approximately 230 tonnes of
MOGOLD PROJECT - Lithium, molybdenum, VMS (copper, zinc, lead)
On the MOGOLD Project, the Boily-Berubé mineral showing is documented as being associated with granitic pegmatites. Stripping carried out in 1989 exposed a pegmatitic vein containing molybdenite with some grains of pyrite and traces of chalcopyrite and malachite (Sigeom). The vein material was only analyzed for precious metals. The Lac Fiedmont South mineral showing, on the eastern margin of the Company's property, has similar geology to the Boily-Berubé, including molybdenite hosted in pegmatite. The full northern part of the claim block is now being targeted for lithium potential..
The La Corne Batholith and the volcanic rocks along the margin host several well-known lithium deposits. Of particular significance, approximately 10 kilometres to the north of Mogold Project, Sayona Mining Ltd is in the process of restarting the North American Lithium (NAL) mine. The NAL mine has a reported proven ore reserve of 1.2 million tonnes of
The potential for VMS deposition similar to that found on the adjacent PG Highway claim provides incentive for exploring for mineralization within the volcanic rocks in the southern part of the claim block.
The Company has completed airborne magnetic survey and ground-based deep penetrating electromagnetic survey, as well as bedrock sampling, on the Mogold claims. Several VMS target areas have been identified by these surveys. A permit to drill on the Mogold was obtained in 2022 with drilling proposed for 2023.
PG HIGHWAY - VMS (copper, zinc, lead, + gold and silver)
The PG HIGHWAY claims were staked by the Company to cover an area considered prospective for hosting massive sulphide mineralization. Several outcrops of massive pyrite and pyrrhotite were historically trenched and sampled as part of a gold exploration program. Other elements were generally not tested. The Company's geologists recognize the potential for Volcanogenic Massive Sulphide mineralization within the geologic terrain underlying the PG Highway claims. As well, pyrrhotite mineralization has been associated with platinum group elements (PGE) to the north of the claims.
The Company has completed airborne magnetic survey and ground-based deep penetrating electromagnetic survey on the PG Highway project. The surveys define several targets for potential massive sulphide mineralization. A permit to drill these targets was obtained in 2022 with drilling proposed in 2023.
LORRAIN - PGE, Copper, Nickel, Cobalt, Chromium
The LORRAIN claims were located to cover a magnetic feature that is associated with an ultramafic rock that hosts the Guimond-Church mineral showing. The showing is described as ultramafic rock containing
Historic work on the Lorrain claims included diamond drilling of other targets that are now within the claims. In particular, a drill hole completed in 2001 is summarized as containing substantial quantities of platinum, palladium, copper, nickel and silver. The Company attempted to twin this drill hole based upon the locations provided in the historic reporting, but was not successful at obtaining similar sample results. The Lorrain property remains a project of interest for the Company.
McKENZIE EAST - Gold, copper.
The Company also owns the McKENZIE EAST project located north of Val d'Or. The McKenzie East property adjoins the east side of the McKenzie Break Project owned and operated by Monarch Mining Corporation.
The property has undergone historic exploration including the discovery of the C2-B mineral showing where drilling intersected quartz-carbonate-pyrite-chalcopyrite veins in andesitic-diorite host rocks. The most significant values reported include 3.10 grams per tonne (g/t) gold (Au) over 0.30 metres, 1.21 g/t Au over 0.30 metres (both from drill hole CO-94-10), and 1.10 g/t Au over 0.30 metres from hole CO-94-13.
The Company completed ground Induced Polarization (IP) electrical survey, a MMI soil sampling survey, a drone-supported airborne magnetic survey, and diamond drilling on the McKenzie East. In 2021, Black Tusk completed 2,587 metres of drilling over 8 drill holes on the property. Results include 1.185 grams per tonne gold (gpt Au) over 1 metre from hole MKE-21-01 as well as intercepts of > 0.5 gpt from holes MKE-21-03, MKE-21-06 and MKE-21-08 (see Black Tusk news release dated July 13, 2021).
Perry Grunenberg, P.Geo, a "Qualified Person" as that term is defined under NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Grunenberg is also a former director of the Company.
On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923
Cautionary Statement
his news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's expected benefits of proposed exploration activities. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company's management to predict all risk factors, nor can the Company assess the impact of all factors on Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.
SOURCE: Black Tusk Resources Inc
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FAQ
What is the new name of Black Tusk Resources?
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