Black Tusk Resources Inc. Completes Magnetometer Surveying on the McKenzie East Project
VANCOUVER, BC / ACCESSWIRE / February 6, 2020 / Black Tusk Resources Inc. (“Black Tusk” or the “Company) (CSE:TUSK)(Frankfurt:0NB)(OTCPINK:BTKRF) is pleased to announce that magnetometer surveying has been completed on the McKenzie East Project located 30 kilometres north of Val d’Or, Quebec. The survey was conducted by Geophysique TMC utilizing Vision 4K unmanned aerial vehicle (UAV-drone) carrying a Scintrex Cs-Vl Cesium Vapor magnetometer. The majority of the claims were covered at 50 metre line spacing.
The magnetic survey provides high resolution data to assist in target definition for eventual diamond drilling. The data acquisition has been completed on the property, with maps and final reporting expected in the following weeks.
Black Tusk is looking forward to continued exploration of the McKenzie East gold project in the following field season. The current magnetic survey will provide information to assist in directing this exploration program as well as define potential drill targets.
The Company also announces that it has issued 2,101,500 common shares at a price of $0.05 to extinguish outstanding indebtedness of $105,575. Of the shares issued, 200,000 common shares were issued to Alexander Tarasov a director of the Company. The shares are subject to a hold period expiring four months and one day from the date of issuance.
Perry Grunenberg, P.Geo, a “Qualified Person” as that term is defined under NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Grunenberg is also a director of the Company.
On behalf of the Board of Directors
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company’s limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company’s Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: Black Tusk Resources Inc.
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