tasca resources provides princeton update
VANCOUVER, BC / ACCESSWIRE / October 23, 2018 / Tasca Resources Ltd. ("Tasca" or the "Company") (TSX.V: TAC, FSE: 3TA) is pleased to provide an update on general related developments in the area of its Princeton gold project in south-central British Columbia. Recently Westhaven Ventures Inc. reported some very exciting drill results (17.77 meters of 24.5 g/t Au) from it's Shovelnose Gold property to the north of Tascas' Princeton project. This has resulted in a heightened interest in the entire area from an exploration standpoint. Mineralization hosted on adjacent properties is not necessarily indicative of mineralization hosted on the Company's Princeton Property. Sable Resources Ltd. recently announced the closing of a bought deal comprised of 10 million units at $0.25 for gross proceeds of $2.5 million CDN dollars. Additionally, Sable announced the acquisition by staking of 189,197 hectares in the Spences Bridge Gold Belt and concurrently announced an immediate Joint Venture of the entire land package with Westhaven. Tasca cautions investors it has not verified the Westhaven exploration data.
The Westhaven discovery further attests to the mineral endowment of the Princeton - Merritt - Ashcroft corridor, where the Highland Valley and Similkameen porphyry copper deposits currently operate. Numerous pass producing mines occur throughout the corridor such as Brenda, Graigmont, Afton, Elk, and several advanced exploration projects remain active. Tasca's Princeton gold project lies in the southern portion of the corridor.
About the Princeton Gold Project
Tasca recently completed an exactor trenching program at its 4,013 hectare Princeton Gold Project in September in preparation for a fully permitted, follow up drill program. Tasca opened up Area 2, where float grab and in-place quartz rock sampling documented 25 of 37 samples returning gold values in excess of 1,000 ppb with 13 of the 25 samples returning gold values in excess of 10,000 ppb gold, or 10 grams per tonne, to a maximum of 66,237 ppb or 66.2 grams per tonne gold. The vein zone was traced 140 metres before it disappeared under deeper overburden along strike in both directions. A total of 56 samples were taken and will be reported when receive. The initial drill program will test the vein zone both along strike and at depth.
About Tasca Resources
Tasca Resources Ltd. (TAC: TSX-V; FWB: 3TA) is a Canadian-based mineral exploration company focused on the acquisition, exploration and development of mineral properties. Our objective is to build shareholder value through exploration and potential development or acquisition of existing projects with significant up-side.
The scientific and technical information contained in this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., Tasca's geologist, who is a "Qualified Person" as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43- 101").
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.tascaresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
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 news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Tasca Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Tasca Resources Ltd. management on the date the statements are made. Except as required by law, Tasca Resources Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.