VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Black Tusk Resources (CSE:TUSK) (OTCPink:BTKRF) (FSE:0NB) is acquiring the PegaLith Lithium project in Quebec. The PegaLith claims, located approximately 25 kilometres north of Gatineau, Quebec, cover 636 hectares or 1,571 acres of strong geological and mineralogical indicators for lithium potential.
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The claims were originally staked to cover part of an extensive belt of granitic and gneissic rocks that host pegmatitic mineralogy.
Four historic showings were small-scale mined for coarse-grained feldspar and quartz as industrial minerals during the early 1900's, with a fifth historic mine located several hundred metres west of the claims. The geologic summary for these historic mines indicate the presence of mica in the pegmatite, one possible source for lithium. As well, the historic Mine Leduc, located approximately six kilometres southwest of the PegaLith property contains a small lithium-bearing body, approximately 230 tonnes of 5.39% Lithium Oxide (Li2O) from pegmatitic materials, as reported in 2006 in a non NI 43-101 compliant report.
Management cautions that potential lithium resources that exist on properties outside of the PegaLith claims are not direct indicators of lithium mineralization on the PegaLith property.
Black Tusk paid $16,000 and has agreed to issue 4,600,000 units at a deemed price of $0.075 per unit, valued at $345,000. Each unit consists of one share and one warrant exercisable at $0.10 for a period of two years, subject to a hold period of four months plus one day.
Black Tusk's geologic team are currently compiling all available data for the PegaLith project in preparation for a 2023 Phase I exploration program. The claims are easily accessible for exploration, including initial sampling of pegmatitic outcrops for lithium.
The shares are trading at $0.07. For more information, please visit the company’s website, www.blacktuskresources.com, contact Richard Penn, CEO, at 778-384-8923.
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