Tartisan Nickel Corp. Purchases Sill Lake Lead-Silver Boundary Claims, Stakes Additional Cells

Rhea-AI Summary

Tartisan Nickel Corp. has acquired a 100% interest in lead-silver claims in the Sault Ste. Marie Mining District, Ontario, enhancing its Sill Lake property package. The purchase involved a cash payment of $75,000, issuance of 100,000 common shares, and a 2% net smelter return royalty. The Sill Lake project now spans 933.57 hectares with 47 mining claims. Historical estimates indicate a resource of 112,751 tonnes at 134 g/t silver and 0.62% lead. CEO Mark Appleby believes this acquisition will generate shareholder value in the short term.

Positive

• Acquisition of 100% interest in Sill Lake lead-silver claims enhances property package.
• Historical resource estimate of 112,751 tonnes at 134 g/t silver.
• CEO expresses confidence in generating short-term shareholder value.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 17, 2021 / Tartisan Nickel Corp. (CSE:TN)(OTC Pink:TTSRF)(FSE:A2D) ("Tartisan", or the "Company") is pleased to announce that the Company has purchased a 100% interest in certain claims in the Sault Ste. Marie Mining District in Ontario to complete the Sill Lake lead-silver property package.

The mining claims purchased are located in Van Koughnet Township, about 30 km north of Sault Ste. Marie, Ontario. A cash payment of $75,000; the issuance of 100,000 common shares in the capital of Tartisan Nickel Corp. and a 2% net smelter return royalty (subject to a 1% buy-back provision for $250,000) has been paid and assigned in consideration to the vendors. The Company additionally reports that 17 single cell mining claims contiguous to the Sill Lake land package have been staked. The Sill Lake lead-silver project now consists of 47 single cell mining claims which represents 933.57 hectares.

Lead-silver mineralization was originally discovered at Sill Lake in 1892, when a 30m adit was driven to a 17m internal shaft, with approximately 40m of lateral development to exploit a lead-silver vein. The Sill Lake lead-silver property was later defined by explorers who conducted a 3750m of diamond drill program along a defined steeply dipping mineralized trend some 850m in length, with mineralized widths varying between 1.5m and 4.5m. The Sill Lake Lead-Silver Project has seen two distinct periods of underground development and production and it is estimated that 7,000 tonnes of ore containing lead and silver were mined. In 2010, a historical NI 43-101 Technical Report gave a measured and indicated mineral resource of 112,751 tonnes at 134 g/t silver; 0.62% lead, and 0.21% zinc. The historical resource estimate used a silver cutoff grade of 60 g/t; but no cutoff grade for the base metal content was used. Tartisan Nickel Corp. announced on November 18, 2020 that SMX International Corp. was retained to update the Sill Lake Lead-Silver Property historical NI 43-101 Resource Report. The Technical Report should be available in the first quarter of 2021.

Tartisan CEO Mark Appleby stated, "The purchase of these Sill Lake lead-silver claims enhances the Sill Lake property package. Tartisan believes the Sill Lake Lead-Silver Project should generate shareholder value in the short term".

About Tartisan Nickel Corp.

Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel Project in northwestern Ontario; the Sill Lake Silver Property in Sault St. Marie, Ontario, as well as the Don Pancho Zinc-Lead-Silver Project in Peru.

Tartisan Nickel Corp. owns an equity stake in Eloro Resources Ltd, Class 1 Nickel & Technologies Limited and Peruvian Metals Corp.

Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE:TN; US-OTC:TTSRF; FSE: A2D). Currently, there are 104,929,132 shares outstanding (110,954,714 fully diluted).

For further information, please contact Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.

Dean MacEachern P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

SOURCE: Tartisan Nickel Corp.

View source version on accesswire.com:
https://www.accesswire.com/630106/Tartisan-Nickel-Corp-Purchases-Sill-Lake-Lead-Silver-Boundary-Claims-Stakes-Additional-Cells

FAQ

What did Tartisan Nickel Corp. announce on February 17, 2021?

Tartisan Nickel Corp. announced the acquisition of a 100% interest in lead-silver claims to enhance its Sill Lake property.

What is the significance of the Sill Lake project for Tartisan Nickel Corp.?

The Sill Lake project is significant because it enhances the company's mineral resources and is expected to generate shareholder value.

What are the financial details of Tartisan Nickel's acquisition?

The acquisition involved a cash payment of $75,000, the issuance of 100,000 common shares, and a 2% net smelter return royalty.

What is the historical resource estimate for the Sill Lake property?

The historical resource estimate for the Sill Lake property is 112,751 tonnes at 134 g/t silver and 0.62% lead.

How many claims does the Sill Lake lead-silver project now have?

The Sill Lake lead-silver project now consists of 47 single cell mining claims.