Two Important Exploration Programs Highlight a Busy Summer Schedule for Tasca Resources
Early stage exploration work at two properties held by Tasca Resources Ltd. (TSXV:TAC – $0.08 & OTC:ECMXF – $0.07 & Fra:3TA – €0.04) has laid the foundation for more ambitious follow up programs that are now in process. This is the start of the summer exploration season, allowing easier access to mountainous property locations following the snow melt and improved road conditions. The Company reported that fieldwork and drilling programs are set to commence at the Poplar Copper Project and the Princeton Gold property, both located in British Columbia, Canada.
Extensive Preliminary Sampling And Geophysical Work Increases the Odds for Success at Poplar
The more advanced Poplar Copper project has a work history stretching back to 1974, and a previous operator had established a large copper-gold deposit based on 129 diamond drill holes totaling more than 37,000 meters of drilling work completed over the years. This led to a resource estimate of 131 million tonnes grading 0.31% Cu, 0.009 % Mo, 0.09 g/t Au and 2.39 g/t Ag and an historic inferred mineral resource of 132 million tonnes grading 0.27 % Cu, 0.005 % Mo, 0.07 g/t Au and 3.75 g/t Ag.
However, the management of Tasca believes that there is further discovery at Poplar. Earlier in June the Company reported the commencement of preliminary fieldwork to gather samples of glacial till and soils in areas of interest around the deposit area. The Alder target area was identified based on geophysical work. The Copper Pond target was originally outlined based on fieldwork completed by a previous operator in the 1990s.
The objective from the till sampling is to identify areas with higher residual grades of metals. Given that intense glaciations affected the property area in the past, and the direction of the glaciers is known, the geologists should be able to follow the path of the glaciers and interpret areas that may have been the source of the higher grade rock outcrops. A similar effective strategy can be inferred based on mapping gradients of metals in soil samples.
The program was completed shortly thereafter, and samples have since been sent for assay. A subsequent round of drilling work may be initiated later this summer depending on the results.
Exploration Work Set to Commence at Princeton Gold Property
Tasca also reported this week that preparations for a planned summer exploration program are now complete and work is set to begin at the Princeton Gold property. Previously completed fieldwork and sampling have outlined a large prospective target, and the Company will conduct mechanical trenching followed by a drilling program to investigate the potential for this target area. This will be the first drill program to target the property. Permitting has been granted for up to 50 trenches and 10 drill holes during this program.
While the Princeton Gold property is considered an early stage prospect, attractive gold values have been encountered in previous surface sampling work, including one high grade sample of 66.2 g/t gold. The property is located just 11km from the producing Copper Mountain mine in a highly prospective district of known mineral deposits.
Junior exploration companies are capable of achieving huge gains for shareholders at the discovery level. Starting from early stage work, the talented geologists employ modern techniques and intense fieldwork and mapping programs to gather data that may serve as clues for the location of a deposit. Like following a trail of breadcrumbs, the objective is to narrow down a wide property area to outline smaller, high profile targets where a mineral deposit may be found.
Considering that the Poplar Property is already host to a large polymetallic deposit, success from this program could be a material event to elevate the deposit to a higher profile development candidate. This would move the property further along the value curve and build intrinsic shareholder value. Similarly, a breakthrough at the Princeton Gold project would also create shareholder value with the potential for a significant discovery, and this tends to be a catalyst for higher share values.
Tasca management has moved both projects ahead to where the odds for exploration success are enhanced and with results expected later this summer, shareholders may benefit big. Recommendation: BUY.
|For important disclosures, please read our disclaimer.|