VANCOUVER, British Columbia, June 07, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (REE) that drive the green technologies of the future, is pleased to provide an update regarding sector outlook and an overview of corporate activities.
As noted by numerous media outlets, as well as a recent Tactical Resources’ news release of April 7, 2022, the significance of the Biden administration’s invocation of the Defense Production Act is of increasing importance as the growing threat of military aggression continues to cause considerable concern regarding domestic industrial preparedness. In response, the act provides tactical and timely support for the mining, processing, and recycling of critical materials (source: nytimes.com).
Tactical Resources is determined to act vigorously and is fully committed to becoming a premier North American supplier of Rare Earths products for the US supply chain. Two REE projects, one in Texas, USA and one in Quebec, Canada provide Tactical Resources the foundation for it’s current and future geological and REE processing development programs.
Strategic planning has identified the requisite effort necessary to achieve Tactical Resources’ corporate goals, and the Company’s geological and metallurgy teams are diligently assembling project development plans.
Activities at Tactical Resources’ two REE projects encompass a myriad of technical and regulatory factors, goals, and achievements, with several noteworthy updates outlined below.
Peak Project, Texas, USA
As previously introduced in a news release of April 20, 2022, the Peak Project is a tailings offtake project contiguous to the active cut rock operations of the Sierra Blanca Quarry, LLC located in Hudspeth County, Texas. The ongoing Sierra Blanca Quarry operations include the production of ballast (fill) for the Union Pacific Railway (Figures 1a &1b)i. The property is found within the Sierra Blanca Complexii and is located 68 miles southeast of El Paso, Texas and two miles southeast of the Round Top Rare Earth Element (REE) project owned by Texas Minerals Resources Corporation & USA Rare Earth.
Figures 1a &1b – Sierra Blanca Quarry displaying the conveyor and crusher are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99151c60-16ff-44bc-b545-75f372891b99 and https://www.globenewswire.com/NewsRoom/AttachmentNg/2d1af3c2-d3c0-4d93-80d0-4e76dc31bfd1
The Company is currently planning exploration and metallurgy test work on the Peak materials as part of the initial development work program.
Lac Ducharme Property, Quebec, Canada
As previously noted in a news release of March 24, 2022, the Lac Ducharme property is a contiguous block of twenty-three (23) claims encompassing approximately 3,108 acres (1,258 Ha) located in the Manicouagan regional county municipality (MRC) of the Cote-Nord region of eastern Québec 150 km north of the largest regional city, Baie-Comeau.
Tactical Resources has completed the cash payments and share issuances required to-date under the option agreement and has extended the window of the next tranche of expenditures for its work program to Nov 1, 2022, to allow the Company to take advantage of the summer exploration season. Tactical Resources continues to develop an integrated approach to discovery exploration programs for the Lac Ducharme property by building on previously completed surface sampling and geochemistry. Management believes this toolbox approach is fundamental in accelerating discovery potential and value in what the Company considers a significant prospective REE asset.
Company CEO, Ranjeet Sundher, states, “World events are unfolding quickly and increasing pressure to produce domestic REE is being felt across the entire North American sector. We are understandably excited to have two intriguing properties with beneficial potential. In Texas we believe we have an opportunity to fast-track production far more quickly than what would be required at traditional mineral development projects, and our Lac Ducharme property could prove to have important scalable potential. We have a highly motivated team and look forward to further developing and accelerating our progress in building shareholder value through hard work and solid results.”
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 mineral exploration and development company focused on rare earth elements (REE) 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.
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 the development of the Company’s work programs at the Peak Project and the Lac Ducharme Property, increased demand for domestically produced REEs, and the Company’s timeline to reach the production stage.
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 Inquiries
media@tacticalresources.com
i Additional permitting is required for the Peak project
ii Elliott, B.A. Petrogenesis of Heavy Rare Earth Element Enriched Rhyolite: Source and Magmatic Evolution of the Round Top Laccolith, Trans Pecos, Texas. Minerals 2018, 8, 423. https://doi.org/10.3390/min8100423.
