InvestmentPitch Media Video Discusses Black Tusk Resources’ Acquisition of PegaLith Lithium project near Gatineau, Quebec

Rhea-AI Summary

Black Tusk Resources is acquiring the PegaLith Lithium project in Quebec, covering 636 hectares (1,571 acres) with significant lithium potential. Located 25 km north of Gatineau, the project is near historic mines that provided insights into lithium presence. Black Tusk paid $16,000 and will issue 4.6 million units at $0.075 each, totaling $345,000. The units comprise one share and one warrant, exercisable at $0.10 for two years. The exploration program for 2023 includes initial sampling of pegmatitic outcrops for lithium. Currently, shares are trading at $0.07.

Positive

• Strategic acquisition of the PegaLith Lithium project, enhancing resource portfolio.
• Location near historic lithium-bearing mines suggests potential for future discoveries.
• Planned 2023 exploration program could provide insight into lithium resources.

Negative

• The historic data may not be indicative of lithium mineralization on the PegaLith property.
• Issuing 4.6 million units could lead to shareholder dilution.

VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Black Tusk Resources (CSE:TUSK) (OTCPink:BTKRF) (FSE:0NB) is acquiring the PegaLith Lithium project in Quebec. The PegaLith claims, located approximately 25 kilometres north of Gatineau, Quebec, cover 636 hectares or 1,571 acres of strong geological and mineralogical indicators for lithium potential.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Black Tusk” in the search box.

The claims were originally staked to cover part of an extensive belt of granitic and gneissic rocks that host pegmatitic mineralogy.

Four historic showings were small-scale mined for coarse-grained feldspar and quartz as industrial minerals during the early 1900's, with a fifth historic mine located several hundred metres west of the claims. The geologic summary for these historic mines indicate the presence of mica in the pegmatite, one possible source for lithium. As well, the historic Mine Leduc, located approximately six kilometres southwest of the PegaLith property contains a small lithium-bearing body, approximately 230 tonnes of 5.39% Lithium Oxide (Li2O) from pegmatitic materials, as reported in 2006 in a non NI 43-101 compliant report.

Management cautions that potential lithium resources that exist on properties outside of the PegaLith claims are not direct indicators of lithium mineralization on the PegaLith property.

Black Tusk paid $16,000 and has agreed to issue 4,600,000 units at a deemed price of $0.075 per unit, valued at $345,000. Each unit consists of one share and one warrant exercisable at $0.10 for a period of two years, subject to a hold period of four months plus one day.

Black Tusk's geologic team are currently compiling all available data for the PegaLith project in preparation for a 2023 Phase I exploration program. The claims are easily accessible for exploration, including initial sampling of pegmatitic outcrops for lithium.

The shares are trading at $0.07. For more information, please visit the company’s website, www.blacktuskresources.com, contact Richard Penn, CEO, at 778-384-8923.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Black Tusk has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com 

FAQ

What is the significance of Black Tusk Resources acquiring the PegaLith Lithium project?

The acquisition enhances Black Tusk's resource portfolio and provides potential for future lithium exploration.

How much did Black Tusk pay for the PegaLith Lithium project?

Black Tusk paid $16,000 and agreed to issue 4.6 million units valued at $345,000.

What is the expected impact of the PegaLith Lithium project on Black Tusk's stock (BTKRF)?

The acquisition may positively influence stock performance by increasing resource potential, although issuing units might cause dilution.

When is the exploration program for the PegaLith project expected to begin?

The exploration program is planned for 2023, with initial sampling of pegmatitic outcrops.

What are the characteristics of the PegaLith Lithium property?

The property covers 636 hectares in Quebec, with geological indicators suggesting lithium potential, near historic lithium mines.