Tarku Acquires New Prospective land with Gold, and Base Metals Potential in the Abitibi Region

Rhea-AI Summary

Tarku Resources Ltd announces acquisitions of mineral claims in Quebec, strengthening its presence in the mining industry. The company now owns nine exploration projects in Quebec and the Silver Strike project in Arizona, showcasing a diverse range of commodities in secure global jurisdictions.

MONTREAL, QC / ACCESSWIRE / March 12, 2024 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") is delighted to announce its recent acquisitions of promising mineral claims in the Abitibi region, Quebec, solidifying its presence in one of the most esteemed and secure global jurisdictions for mining exploration. While maintaining a steadfast focus on advancing its co-flagship 3As project in Quebec and the Silver Strike project in Arizona, these new claims strategically contribute to Tarku's commitment to exploring high-quality geological projects.

Tarku now holds 100% ownership of nine distinct exploration projects in Quebec, encompassing 19,701 hectares (197 km2) as well as maintaining its full ownership of the Silver Strike project in Arizona, providing shareholders exposure to a diverse range of commodities such as gold, silver, copper, zinc, lithium, manganese, and nickel. These assets are located in mining-friendly jurisdictions, and some of them involve critical and strategic minerals.

Julien Davy, President and CEO of Tarku Resources, expressed enthusiasm about the potential of the Abitibi Greenstone Belt, stating: "The Abitibi Greenstone Belt is undeniably one of the most prospective geological regions globally. We are excited about the prospectivity of this region, which happens to be in our backyard. The current market conditions have presented opportunities to acquire additional land positions at low costs, prompting us to wisely expand through staking and acquisition efforts".

The Calypso Project

Tarku's Calypso project, entirely owned by the company, is situated in the north-central part of the Abitibi Greenstone Belt (figure1). It is located between NTS Sheets 32F12 and 32F11, a mere 20 km south of Matagami, Quebec, and encompasses 42 claims, totaling 2,346 hectares. Positioned along the Casa Bérardi-Douay-Cameron regional deformation zone, the Calypso project spans a segment of this extensive east-west regional structure, stretching over 150 km and characterized by a network of interconnected shear zones. It covers 6 kilometers along the strike of the Taibi Group, host to the Vezza gold deposit to the west, the Discovery deposit to the east, and the Douay and Douay West areas located just 7 kilometres to the southeast.

Tarku's compilation reveals little exploration work on the property, primarily due to glacial coverage. Recent exploration efforts by neighboring companies, such as Nuvau Minerals Corp, Midland Exploration, and O3 Mining, underscore the strong gold potential of the Calypso project and its location. Tarku plans to commence exploration activities on the Calypso project in 2024.

The Barmat Project

Tarku's Barmat project, also fully owned by the company, is located in the southern part of the Abitibi Greenstone Belt, within NTS Sheets 32C05, only 7km northeast of the Barraute municipality and 40km north of Val-d'Or, Quebec (figure1). Encompassing 12 claims totaling 514 hectares, the project is adjacent and along the Abcourt-Barvue Silver-Zinc deposit. The Abcourt-Barvue Silver-Zinc deposit updated its MI feasibility study in 2019, revealing proven and probable reserves of 8.07 million tonnes with a grade of 51.79 g/t of silver and 2.83% zinc for a 13-year life mine open-pit and underground operations (Source: Sedar).

Qualified persons

Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku Resources Ltd., is Tarku's "Qualified Person" under National Instrument 43-101 on standards of disclosure for mineral projects, has reviewed and approved the scientific and technical information in this press release for accuracy and compliance with NI 43-101.

Location of Tarku's project in the Abitibi region

Figure 1: Location of Tarku's project in the Abitibi region

About Tarku

Tarku Resources Ltd. (TSXV:TKU)(FRA:7TK)(OTCBQ:TRKUF) is a mining exploration company dedicated to advancing new discoveries through the application of modern techniques in promising mining jurisdictions, including Quebec and Arizona.

In Arizona, Tarku holds 100% ownership of the 29 km2 Silver Strike project situated within the renowned Tombstone District. Management interprets Silver Strike to have the potential for Carbonate Replacement Deposits (CRD) similar to those of the Hermosa project, located 80 km west in Santa Cruz County, Arizona. South32 acquired the Hermosa project for USD 1.8 billion in 2018.

In Quebec, Tarku possesses 100% ownership of over 19,700 hectares of prospective claims, including the 'Three A's' projects (Apollo, Admiral, and Atlas) along the Sunday Lake Regional Fault, east of Matagami. Management interprets this area as the eastern extension of the Detour Belt, which has witnessed recent exploration successes by companies like Kenorland Minerals, Midland Exploration, Wallbridge Mining Company, and Probe Metals. Additionally, the company owns the MAX Lithium project, located 4 km southwest of Sayona Mining's North American Lithium mine.

On behalf of Tarku Resources Ltd.

Julien Davy,
President and CEO

Tarku contact information:
Email: investors@tarkuresources.com
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku's periodic reports, including the annual report, or in the filings made by Tarku from time to time with securities regulatory authorities.

SOURCE: Tarku Resources Ltd

View the original press release on accesswire.com

FAQ

What recent acquisitions has Tarku Resources Ltd made?

Tarku Resources Ltd has acquired promising mineral claims in the Abitibi region, Quebec.

How many exploration projects does Tarku Resources Ltd own in Quebec?

Tarku Resources Ltd now holds 100% ownership of nine distinct exploration projects in Quebec.

What commodities are included in Tarku Resources Ltd's assets?

Tarku Resources Ltd's assets include commodities such as gold, silver, copper, zinc, lithium, manganese, and nickel.

Who is the President and CEO of Tarku Resources Ltd?

Julien Davy is the President and CEO of Tarku Resources.

Where is the Silver Strike project located?

The Silver Strike project is located in Arizona.

In which regions are Tarku Resources Ltd's exploration projects located?

Tarku Resources Ltd's exploration projects are located in Quebec and Arizona.