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Tarku Resources Ltd (TRKUF) is a mining exploration company with a focus on developing new discoveries in favorable mining jurisdictions such as Quebec and Arizona. In Quebec, the company owns the 'Three A's' exploration projects (Apollo, Admiral, and Atlas) in the Matagami Greenstone Belt, which is considered the eastern extension of the Detour Belt. Tarku's recent acquisition of the Dana Project in Quebec adds value to its portfolio, targeting nickel, copper, cobalt, and PGEs. The strategic acquisition aligns with the company's commitment to exploring high-quality geological projects and advancing its core projects efficiently.
Tarku Resources has acquired the Dana Project in Quebec, targeting nickel, copper, cobalt, and platinum-group elements (PGE). The project is located near Lake Manitou in the Côte-Nord region, adjacent to the Havre-Saint-Pierre anorthosite complex. Historically, the area has shown significant polymetallic mineralization, including high-grade samples with up to 4.5% copper and 1.69% nickel. The last exploration was conducted in 2017, revealing several EM anomalies. Tarku aims to consolidate existing geological data for a new exploration program. The acquisition is seen as a strategic move to enhance Tarku's long-term value at minimal cost, while maintaining focus on its key projects in Quebec and Arizona.
Tarku Resources provides an update on its Silver Strike Project in Arizona, identifying new Silver-Gold targets and potential mineralization. The Company plans to execute a mapping and sampling program in 2024 to further refine these new targets. Tarku's Silver Strike Project has shown high-grade results in silver, gold, copper, lead, zinc, and manganese, with significant untapped discovery potential.
Tarku Resources Ltd. has successfully conducted its first drilling program at the Apollo project along the Sunday Lake Fault, identifying a strong gold-bearing orogenic system over a 3-km strike length. The program included eight holes totaling 3,048 meters, with Hole AP-22-07 revealing multiple gold structures over 10 meters wide, notably 46.9 meters at 0.33 g/t Au. The results indicate substantial potential for further gold exploration and continuity of these gold-bearing structures. The Apollo project contributes to Tarku's strategy in a region historically associated with significant gold deposits, including the nearby Detour Lake mine.
Tarku Resources Ltd (OTCQB:TRKUF) has successfully closed a non-brokered private placement worth $290,500, issuing 4,150,000 units at $0.07 per unit. Each unit consists of one common share and one warrant, allowing purchase of an additional share at $0.12 for 24 months. Insider participation accounted for 350,000 units. Proceeds will support general working capital. The TSX Venture Exchange conditionally accepted the placement on March 1, 2023. Tarku also appointed Michel Lebeuf Jr. as Corporate Secretary, effective March 1, 2023. The company rectified the expiration date of stock options set to expire on March 1, 2028.
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