TASCA RESOURCES INCREASES LAND PACKAGE WITH ADDITIONAL 620 SQ. KM IN AREA OF NADINA https://www.fscwire.com/sites/default/files/NR/1251/20908_Tasca11062017.jpg (Poplar claims were previously owned by LGM on this map) Tasca Resources Ltd. has optioned the Poplar property that is contiguous to the south of Tasca's newly acquired Nadina claim blocks announced on Nov. 6, 2017. The Poplar property also contains the Poplar Copper deposit within its claim boundaries.
The Poplar property encompasses over 620 square kilometres (62,000 hectares) and is contiguous to the south of one of Tasca's newly acquired Nadina claim blocks. It is also on strike to the west of New Nadina's Silver Queen property.
The property has a long past of historical exploration, including the drilling of 147 holes. This drilling identified a historical indicated mineral resource of 131 million tonnes grading 0.31 per cent copper, 0.009 per cent molybdenum, 0.09 gram per tonne gold and 2.39 grams per tonne silver and a historical inferred mineral resource of 132 million tonnes grading 0.27 per cent Cu, 0.005 per cent Mo, 0.07 g/t Au and 3.75 g/t Ag.
These historical indicated and inferred resources were disclosed by Lions Gate Metals Inc. in its technical report dated March 30, 2012, prepared by Gary Giroux, PEng.
To determine the historical resource, a three-dimensional solid was constructed to constrain the mineralized area, using a 0.1-per-cent-copper-grade shell as a guide. Large internal waste zones were modelled as were some larger-post mineral dikes. Of the total database, 129 drill holes totalling 37,205 metres were within the mineralized zone and were used to estimate the resource. Drill holes were compared with the mineralized solid, and assays were tagged if inside. Copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.4 per cent Cu, 0.14 per cent Mo, 0.34 g/t Au and 41 g/t Ag, respectively. Five-metre composites were formed and used for variography.
For this estimate and to aid with some preliminary planning, the blocks were reduced to five by five by 10 metres in dimension and were estimated for Cu, Mo, Au and Ag by ordinary kriging. The historical resource is classified as indicated and inferred based on each block's proximity to data and the grade continuity. The historical indicated and historical inferred resource uses the categories set out in Section 1.2 of National Instrument 43-101.
Tasca will need to review and verify the historical drilling database and twin a number of the existing drill holes to bring the historical resources current. Investors are cautioned a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and therefore Tasca is not treating the historical estimate as current mineral resources or mineral reserves.
The underlying geology of the Poplar property is largely Cretaceous Kasalka group andesitic volcanics intruded by lower Cretaceous Bulkley suite intrusive stocks. Lower Jurassic Hazelton group Telkwa formation calc-alkaline volcanics are in fault contact in the northeast. Outliers of Eocene Ootsa Lake group volcanics overlap the Cretaceous rocks.
Subject to TSX Venture Exchange approval, Tasca can earn a 100-per-cent interest, subject to legacy NSR (net smelter return) interests ranging from 1 per cent to 2 per cent, in the Poplar property by completing the following share issuances, exploration expenditures and cash payments to the vendor:
$50,000 cash consideration and 2.2 million common shares within three days of exchange approval; A further cash consideration of $350,000 within 18 months of the agreement date; A further cash consideration of $750,000 within 36 months of agreement date; A further cash consideration of $3.5-million within 48 months of the agreement date; Tasca shall complete $500,000 in exploration expenditures on the Poplar property within 180 days of the agreement date; Tasca shall complete $1-million in exploration expenditures on the Poplar property within one year of the agreement date; Tasca shall complete $1.5-million in exploration expenditures on the Poplar property within 48 months of the agreement date. About Tasca Resources Ltd.
Tasca Resources is a Canadian-based mineral exploration company focused on the acquisition, exploration and development of mineral properties. Its objective is to build shareholder value through exploration and potential development or acquisition of existing projects with significant upside.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, PGeo, an independent consulting geologist who is a qualified person as such term is defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
News 
Market Data 
Discover 
