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Black Tusk Resources Inc. Receives Necessary Permit to Initiate Diamond Drilling on its Golden Valley Property

Black Tusk Resources Inc., a gold exploration and development company, has announced that it has received the required permit to initiate diamond drilling on its Golden Valley property situated in Quebec.

Under this exploration permit, 15 drill pads will be constructed with supporting access to roads. These drill pads will enable the testing of a couple of gold-bearing structures as defined by historic work that was earlier performed by other companies. The drill stations are located contiguous to existing mining and logging major access roads.

Target I drilling is specifically designed to validate and expand upon the existence of a gold-bearing shear zone intercepted in previous drill programs. In total, five historic drill holes over a 600-m strike length intercepted the gold-bearing shear, including the LAB87-B2 hole that reported:

  • 0.91 g per ton (g/t) gold (Au) over 13.3 m (51.3 to 64.6 m), including
  • 1.82 g/t Au over 4.5 m from 57 to 61.5 m, including
    • 1.90 g/t Au from 60 to 61.5 m
    • 2.15 g/t Au from 58.5 to 60 m
    • 1.4 g/t Au from 57 to 58.5 m

A total of 10 drill holes over a strike length of 1 km have been proposed to test Target I drilling.

Target II proposed drilling is particularly designed to validate and expand upon the existence of gold-bearing iron formation structure that was intercepted in previous drill programs. Furthermore, a magnetic high linear crosses through the drilling area where Noranda Inc. concluded a two-hole drill program earlier in 2004. Their reports denote that hole LAB109-03-01 returned considerable values of gold, including:

  • 1.40 g/t Au from 51.3 to 52 m in massive basalt 5%–10% pyrrhotite and traces chalcopyrite
  • 0.51 g/t Au from 107.3 to 108.2 m in iron formation inside basalt
  • 1.25 g/t Au from 109.5 to 112.1 m including
    • 0.32 g/t Au from 111.1 to 112.1 m in iron formation inside basalt
    • 2.49 g/t Au from 110.2 to 111.1 m in iron formation inside basalt
    • 0.99 g/t Au from 109.5 to 110.2 m in iron formation inside basalt

A total of five drill holes over a strike length of 1.2 km have been proposed to test Target II drilling.

Black Tusk Resources Inc. hereby observed that true intercept widths for the above-described drill-hole results have not been computed. The company has not carried out any work on the property yet and has been unable to directly validate the exploration outcomes as documented in these historic reports.

Situated 26 km south of Hecla Mining Corp – Casa Berardi Mine, the Golden Valley Project lies within the Abitibi Greenstone belt that is host to a number of world class mineral deposits.

In the 1980s, the area surrounding the Golden Valley Project attracted renewed interest after the discovery of gold-silver-zinc-copper at Estrades by Teck Resources, and the Inco Exploration discovery of gold mineralization at the Golden Pond Project.

Black Tusk is very pleased with receiving our drill permits for the Golden Valley Project in Quebec. Historic work has outlined two important structures where previous drilling returned significant gold values, providing immediate targets for this summer’s planned drill program.

Richard Penn, CEO, Black Tusk Resources Inc.

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