TORONTO, Feb. 3, 2020 /CNW/ - Talisker Resources Ltd. ("Talisker" or the "Company") (CSE:TSK | OTCQB:TSKFF) is pleased to announce that the Company has entered into an option agreement with an arm's length party for the Golden Hornet Project further expanding the Company's land position in the Bluejay Project. The Golden Hornet Project comprises 13 mineral claims encompassing 2,206.03 hectares (the "Property") and are strategic mineral claims covering known intrusion related gold vein systems.
Terry Harbort, President & CEO of Talisker stated, "The Golden Hornet Project, adds an advanced stage exploration property to our portfolio contiguous with our existing BlueJay project. We plan to initiate permitting immediately to drill test the main zone and test geochemical anomalies along strike."
Under the term of the option agreement, Talisker can acquire 100% of the Property in exchange for payments totaling $145,000 in cash and 575,000 common shares, payable as to $10,000 cash on signing and 50,000 common shares, $10,000 in cash and 50,000 common shares on the first anniversary, $25,000 cash and 75,000 common shares on the second anniversary, $50,000 cash and 150,000 common shares on the third anniversary, and $50,000 cash and 250,000 common shares on the fourth anniversary and to expend $60,000 per year over four years. The option agreement is also subject to a share bonus of one common share per ounce of gold equivalent in the inferred or greater category to a maximum of 200,000 common shares and a 2% NSR. Talisker has the right to purchase 100% of the NSR for $1,000,000.
Previous work on the Golden Hornet zone consists of a NW trending sheet vein system with trench sample intercepts of 21.1g/t gold over 5.1 meters and 4.17 g/t gold over 14 meters. Confirmation grab sampling of the veins returned values of 26.1g/t and 12g/t gold. The Company notes that these selected samples are not necessarily representative of the mineralization hosted on the Property. Limited drilling has been completed within the Project.
The option is subject to the approval of the Canadian Securities Exchange (the "CSE").
About Talisker Resources Ltd.
Talisker Resources Ltd. is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker's projects include the Bralorne Gold Complex, an advanced stage project with significant exploration potential from a historical high grade gold producing mine as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early stage Greenfields projects. With its properties comprising 272,093 hectares over 288 claims, three leases and 154 crown grant claims, Talisker is a dominant exploration player in the south central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Sample Preparation and QAQC
Sample preparation and analyses is carried out by ALS Global, at their laboratory in North Vancouver, British Columbia, Canada. Rock sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).
Gold in rock samples is analyzed using fire assay of a 50 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) (code Au-ICP21). Multi-elements are analyzed by aqua regia digestion of a 0.5 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 51 elements (Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) (code ME-MS41).
Luis Arteaga M.Sc. P.Geo., Exploration Manager is the Company's Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the listing of the common shares of Talisker on the CSE. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information contained in this news release is based on certain factors and assumptions. While Talisker considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Talisker Resources Ltd
For further information: please contact Terry Harbort, Chief Executive Officer of Talisker, at [email protected] or (416) 361-2808