VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (“Tactical Resources” or the “Company”), a mineral resource exploration & development company focused on the rare earth elements (REE) that drive the green technologies of the future, is pleased to provide an overview of its claim holdings in the Provinces of Quebec and Saskatchewan.
Key Project Highlights
- Key project positioning with the Lac Ducharme property in northern Quebec and the SAM property in northern Saskatchewan.
- Well aligned for potential new discoveries and supported by favourable entry and exploration costs.
- Historical Lac Ducharme prospecting returned elevated REE values.
- SAM returned multiple areas of anomalous mineralization.
- Both projects are accessible year-round with Lac Ducharme via forestry roads and SAM via both boat and drill access trails.
“A fundamental component of Tactical’s business is to conduct exploration in high potential, low risk jurisdictions in Canada” Company CEO Ranjeet Sundher noted. “We believe that both Lac Ducharme and SAM have the potential for new discoveries and to advance known mineralization. Further work will focus on delineating the known areas of mineralization as well as defining the regional and local structural corridors.”
Lac Ducharme Property
The 1,258-hectare Lac Ducharme REE project is found in the favourable mining jurisdiction of northern Quebec within the Manicouagan regional county municipality (MRC) in the Cote-Nord region of eastern Québec, 150 kilometres (“km”) north of the largest regional town, Baie-Comeau (see Figure 1). The project is located about 40 south of the Manicouagan reservoir and is accessible by all-season roads.
The Lac Ducharme Property is located geologically within the Grenville Province, which forms the southeastern rim of the Canadian Shield as its youngest component. The Grenville Province is exposed in a belt from the southern Labrador coast, along the St. Lawrence shore to the Lake Huron shore. Locally, the property is crosscut by a southwest regional-scale fault that separates large composite syn-tectonic plutonic complexes. Rare earth mineralization is hosted in evolved granitic pegmatite cross cutting granitic intrusions.
Figure 1 Lac Ducharme Location map - yellow circles indicate two anomalous samples returned during 2013 sampling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ba700d9-8080-4fa0-aba1-7e11653139e3
Highlights from this early-stage project consist of dykes of LREE (light-rare earth elements)-enriched pegmatite that were discovered at two locations on the Property in 2013, from which one historic grab sample returned an assay value of 6.04% LREE (see Figure 2). A follow-up historic 20 channel sample program was completed in 2014 with 11 samples returning over 0.1% LREE. Preliminary visual characterization had indicated the presence of monazite and allanite, respectively a phosphate and a silicate mineral.
Figure 2 Lac Ducharme Geology - red diamond shapes indicate two anomalous samples returned during 2013 sampling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/279520c0-71a9-4524-bcaa-589912c4704d
Tactical Resources executed an option agreement dated March 1, 2021, with the Doctor’s Investment Group Ltd., whereby Tactical Resources may earn up to a 100 percent interest in the Lac Ducharme property by completing $500,000 in exploration expenditures, by making cash payments totaling $60,000 and issuing 510,000 common shares to Doctor’s Investment Group over 28 months.
SAM Property
The SAM Property is located in the Northern Mining District of east-central Saskatchewan, 15 km west of Flin Flon, Manitoba covering a total area of 1,005 hectares. The property is 4.8 km from Provincial Highway 167 with hydroelectric power accessible from grid power along the highway and 9 km south of the Amisk Lake Deposit (SSR Mining) (see Figure 3).
Figure 3 SAM Property Location map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f432148-207f-437d-b173-fd7759535588
The SAM Property is part of the Flin Flon belt, a component of the Trans-Hudson Orogeny. Historical exploration since the 1950’s has included airborne magnetic and very low frequency electromagnetic (VLF-EM) surveys, radiometric/magnetic surveys and 5,524 meters (“m”) of diamond drilling in 41 historic holes, plus soil and rock samples (see Figure 4).
Mineralization on the SAM property includes both gold and base metal occurrences. There are seven mineral occurrences on the SAM property documented in the Saskatchewan Mineral Deposit Index (SMDI). Mineralization at the SAM Cu-Zn Zone (SMDI 0311, 1870) is defined as Konuto Lake type and occurs as local disseminations and stringers of pyrite-pyrrhotite, and chalcopyrite over a defined strike length of 200 m, a width of up to 50 m, and has been traced to a depth of 200 m. Gold mineralization at the Wolverine North and West (SMDI 2226) and Golden Bear Shear Zone (SMDI 2558) is associated with quartz-ankerite veins in strongly sheared metasediments and volcanics. The veins typically carry sulphides (pyrite, pyrrhotite, chalcopyrite) as well as tourmaline, epidote, and chlorite.
The Wolverine Zone historic trench sampling returned 27.22 grams per tonne (“g/t”) g/t gold over 1.0 m (SMDI 2226) with many samples reporting over 3.1 g/t gold and the Golden Bear historical trenches returned values from trace to 9.61 g/t gold over 1.55m (SMDI 2558). Mineralization at the SAM property has been defined a strike length of 200 m, a width of up to 50 m and has been traced to a depth of 200 m. Gold grades vary with the highest grades associated with sections that contain significant sphalerite.
Highlights from historic SAM zone drilling include:
| Hole ID | Easting (NAD 83/Zone 13) | Northing (NAD 83/Zone 13) | Azimuth | Dip | To (m) | From (m) | Width (m) | Au (g/t) | Cu (%) | Zn (%) |
| SAM-37-79 | 685576 | 6071511 | 0 | -45 | 11.60 | 13.50 | 1.90 | 1.16 | 0.30 | 0.09 |
| SAM-68-80 | 685575 | 6071508 | 0 | -50 | 45.00 | 47.10 | 2.10 | 2.56 | 3.26 | 0.18 |
| SAM-70-80 | 685515 | 6071508 | 0 | -50 | 28.00 | 29.60 | 1.60 | 1.65 | 4.48 | 0.24 |
| SAM-72-80 | 685576 | 6071503 | 0 | -60 | 69.30 | 71.60 | 2.30 | 1.85 | 5.52 | 0.33 |
| SAM-76-80 | 685534 | 6071505 | 0 | -60 | 33.60 | 38.50 | 4.90 | 0.53 | 1.00 | 0.24 |
| WV-00-04 | 685448 | 6071444 | 10 | -70 | 183.90 | 184.40 | 0.50 | 0.24 | 1.05 | 0.13 |
| WV-00-05 | 685154 | 6071611 | 43 | -50 | 159.86 | 160.38 | 0.52 | 0.02 | 0.06 | 0.13 |
Figure 4 SAM Property Geology is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea60bff-39fa-4647-9555-fdca656f2e52
Tactical Resources executed an option agreement with Taiga Gold Corp. on June 21, 2021, whereby Tactical Resources may earn up to a 60 percent interest in the SAM property by completing $4.0 million in exploration expenditures, by making cash payments totaling $500,000 and issuing one million voting-class common shares to Taiga over four years.
On Behalf of The Board of Directors,
Sincerely,
~Ranjeet Sundher~
Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com
About Tactical Resources Corp. (CSE: RARE)
Tactical Resources is a Rare Earth Elements (REE) exploration and development company based in Vancouver, British Columbia, which holds interests on the Lac Ducharme property located in Quebec, the SAM property in Northern Saskatchewan, and the Peak Project in Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
The Company’s final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties. The technical information presented above is repeated for historical reference only. The Company’s QP, as defined under National Instrument 43-101 has not prepared nor verified the historical information. All drill intercepts are drill indicated lengths. Insufficient technical information exists to demonstrate the true widths of these intersections. All of the technical information is derived from public documents available through the Saskatchewan Government Ministry of the Economy, GESTIM (le système de gestion des titres miniers), SIGÉOM (Système d'information géominière du Québec) and MERN (Quebec Ministere des Energie et Ressources Naturelles).
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a Director of Taiga Gold Corp., has reviewed and approved the scientific and technical disclosure in the news release related to the SAM project.
Martin Demers, P.Geo. (OGQ 770), a “qualified person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a consultant to Tactical Resources, has reviewed and approved the scientific and technical disclosure in the news release related to the Lac Ducharme project.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to information regarding the Company’s plans for the acquisition, exploration or development of minerals claims prospective for REEs.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tactical Resources Corp.
Investor Relations
Email: investors@tacticalresources.com
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068
Email: info@tacticalresources.com
Media Inquiríes
media@tacticalresources.com
