VANCOUVER, BC / ACCESSWIRE / October 13, 2020 / Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(FSE:0NB)(OTC PINK:BTKRF) is pleased to announce that the company is expanding its proposed phase 1 diamond drilling program for the McKenzie East gold project located north of Val d'Or, Quebec. The originally proposed 1000 metres has now been doubled to 2000 metres of drilling.
Black Tusk has successfully raised significant financing including the recently closed oversubscribed non-brokered private placement for gross proceeds of $2,368,606 (see News Release dated Sept 23, 2020). These successful financings allow for increased exploration opportunity on the McKenzie East Gold Project, as well as continued planning and exploration on the other four Quebec-based projects owned by Black Tusk.
The increased drilling meterage will allow for a more thorough testing of the McKenzie East target zones as determined from MMI soil sampling, detailed drone-supported magnetometer surveying, 3D IP surveying and historic drilling (see News Release dated Sept 25, 2020). The company is financially prepared to expand the exploration drilling beyond the initial 2,000 metres upon receiving successful results at the McKenzie East, and will contemplate drill testing one or more of their other projects, such as the Lorrain PGE property (see news release dated Sept 30, 2020).
The company is excited to be able to expand testing the great potential of the McKenzie East targets, and is looking forward to the start of diamond drilling.
Cautionary Statement
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923
SOURCE: Black Tusk Resources Inc
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