MONTREALTarku Resources Ltd. (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) (the 'Company' or 'Tarku') is pleased to announce the acquisition of the Dana Project, a nickel, copper, cobalt and PGE project located in Quebec.
The Company continues to focus on its flagship projects, including the 3As in Quebec and its Silver Strike project in Arizona, but believes that the acquisition of the Dana project adds significant long-term value to the company at minimal cost.
Julien Davy, President and Chief Executive Officer of Tarku Resources, commented: 'The undervaluation of exploration companies, relative to metal prices, and the restrictive environment for raising capital create many valuable opportunities to acquire interests in excellent projects that would otherwise be secured. While we will continue to focus on our two main projects, the addition of strategic projects like Dana to the company's portfolio will add significant value in the long term. '
The Dana project (copper, nickel, cobalt, PGE)
Recently acquired by map designation, these claims located near Lake Manitou on the North Shore of Quebec (NTS sheet: 22I14) straddle the boundary of the well-known Havre-Saint-Pierre anorthotic complex ('HSP'). The HSP complex is home to Rio Tinto's Tio Lake titanium mine, as well as numerous other deposits of vanadium, titanium, iron, copper, nickel, cobalt, Platinum Group Elements (PGE) and rare earths (REE). Locally, the area is known to host magmatic massive sulphide mineralization of Ni-Cu (+/-Co +/-PGE), and Dana hosts several historical surface showings that have yielded high-grade polymetallic mineralization, including: 4.50% Cu, 1.69% Ni, 0.09% Co and 537ppb PGE (Thierry Index) 2.36% Cu, 0.37% Ni and 0.10% Co (Bald Index) 2.84% Cu, 0.53% Ni, 0.12% Co and 1452ppb PGE (Snipe Index)
The last work program completed on the property was in 2017, aimed at tracking historical showings and a series of EM anomalies. The Grenville Province is known to host magmatic Ni-Cu (+/-Co +/-PGE) mineralization linked to the margins of anorthositic complexes and recent studies have highlighted the importance of sulphide liquid remelting and recycling in these magmatic systems for the genesis of mineralization (Barnes and Robertson, 2019).
Recent studies have also shown that the probability of finding a Ni-Cu deposit in a Grenville environment is strongly correlated with the volume of mafic rocks contained in an intrusion. This correlation is evident on Dana, where a large volume gabbro has been identified and containing Ni-Cu showings. Despite the significant role that faults play in the establishment of this type of deposit, they have remained underexplored on the property.
Tarku's management is confident that the Dana project has the various essential elements - such as the engine, springs, conduits and traps - to potentially host a magmatic Ni-Cu (+/-Co +/-PGE) deposit. Currently, Tarku is compiling existing geological information from the Dana project area in order to prepare for a future exploration program.
About Tarku
Tarku Resources Ltd. (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) is a mineral exploration company focused on advancing the development of new discoveries through the use of modern techniques and in favorable mining jurisdictions such as Quebec and Arizona.
In Arizona's famous Tombstone District, Tarku owns 100% of the 29-kilometer Silver Strike project2. Silver Strike has been interpreted by management as having the potential to host carbonate substitution (CRD) deposits comparable to those at the Hermosa project, located 80 km west in Santa Cruz County, Arizona, which South32 acquired for $1.8 billion in 2018.
In Quebec, Tarku owns 100% of more than 19,700 hectares (197 km2) of high-potential claims, including the '3 As' projects (Apollo, Admiral and Atlas), along the regional Sunday Lake Fault. Management interprets this zone as the eastward extension of the Detour Belt, which has seen recent exploration success by companies such as Kenorland Minerals, Midland Exploration, Wallbridge Mining Company and Probe Metals. In addition, the Company owns the MAX Lithium Project, located 4 km southwest of Sayona Mining's North American lithium mine.
In addition, Tarku is maintaining its exploration efforts on its other 100%-owned projects in Quebec, strategically located along regional shear zones with known gold, copper, zinc, nickel or lithium mineralization. This approach reaffirms the company's strategy to delineate high-quality mineral resources. With 25,000 hectares of mining claims in Quebec and 2,900 hectares in Arizona, Tarku Resources is well positioned to capitalize on the positive momentum in the commodities sector.
Contact:
Julien Davy
President and Chief Executive Officer
Email: investors@tarkuresources.com
Web: www.tarkuresources.com
This news release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual operations and results to differ materially from expected results and anticipated activities. These risks and uncertainties include those described in Tarku's periodic reports, including the Annual Report, or Tarku's filings with securities regulatory authorities from time to time.
TARKU RESOURCES LTD. 
