MONTREAL, Oct. 22, 2020 /CNW/ - Tarku Resources Ltd
(TSX-V: TKU) (the "Company" or "Tarku") is pleased to announce
the signing of the final agreement with arm's length parties (the
"Vendors") under which Tarku has an Earn-In interest for up to 75%
over 3 years in 1250 hectares of mineral claims in the Tombstone
mining District, Arizona (see
figures in presentation). This final agreement follows the
execution of a letter agreement previously announced and detailed
in its October 5, 2020 press
release.
Julien Davy, President and CEO of
Tarku, stated: "This agreement sets the stage for a significant
new opportunity for Tarku shareholders . The more we investigate
and uncover information from historical databases and records, the
more we see the potential for Tombstone regaining the shine it once
had as a major historical Silver district".
"As evidenced with their most recent press releases,
Aztec Minerals (TSXV:AZT) has demonstrated that by applying
modern drilling methods Silver mineralization is
related to regional fractures mainly oriented NNE-SSW with
high-grade Gold and Silver intervals around old mining tunnels and
longer intervals of near surface bulk-tonnage. Tarku holds the
extensions of those intervals as well as other regional NNE-SSW
fractures that encompasses several past high-grade mines".
"Tarku's strategy for the Tombstone project area is
twofold : first to validate the existence of potential resources of
high-grade silver mineralization in the close vicinity of past
mines located on our property and secondly, to establishes that the
same potential exists on a more regional scale along the extensions
of those NNE structures which we also control over 5km in
length."
Julien Davy, P.Geo., M.Sc, MBA,
President and Chief Executive Officer of Tarku, is the qualified
person under National Instrument 43-101 Standards of Disclosure for
Mineral Projects who prepared, supervised and approved the
technical information in this news release.
About Tarku Resources Ltd. (TSX.V : TKU)
Tarku is an exploration company focused on making new
discoveries. In Quebec, Tarku owns
100% on the "Three A's" exploration projects, (Apollo,
Admiral and Atlas Projects), in the Matagami greenstone belt, which has been
interpreted by management as the eastern extension of the Detour
Belt, and which has seen recent exploration successes by Midland
Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc.
In Arizona, Tarku owns the option
to acquire 75% over 3 year on the Silver Tombstone project.
Tarku has a tightly held capital structure with 28,074,036
outstanding shares, of which approximately 80% are owned by 20
insiders and major shareholders.
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.