Technical Analyst: Charts for Exploration Firm ‘Present Excellent Power’

This younger firm options initiatives in established prolific and mining-friendly areas.

Within the few years that Black Tusk Sources Inc. (TUSK:CSE; BTKRF:OTC) has been round—it was shaped in 2016 and went public in November 2017—it has managed to obtain two initiatives in extremely prolific areas of Canada. The corporate’s flagship venture, Golden Valley, sits within the Abitibi Greenstone Belt in western Quebec, not removed from the Ontario border. The Abitibi has produced greater than 100 mines and 170 million ounces of gold for the reason that early 1900s. Quebec is taken into account a mining-friendly jurisdiction, rating fourth on the Fraser Institute’s Mining Funding Attractiveness Index.

Golden Valley is situated a mere 26 kilometers south of the Casa Berardi Mine, which is 100%-owned by Hecla Mining Firm. That underground mine has produced greater than 1.9 million recovered gold ounces since 1988, and is anticipated to supply about 150,000 ounces of gold at a money value of roughly $850/ounce this 12 months.

“The charts for Black Tusk present excellent energy.” – Clive Maund

The 1,850-hectare Golden Valley venture has seen historic drilling, and one spotlight gap drilled by Noranda Inc., LAB87-B2, returned:

zero.91 gram per tonne (g/t) gold over 13.three meters (51.three meters to 64.6 meters), together with 1.82 g/t gold over four.5 meters from 57 meters to 61.5 meters, together with:
1.four g/t gold from 57 meters to 58.5 meters;
2.15 g/t gold from 58.5 meters to 60 meters;
1.90 g/t gold from 60 meters to 61.5 meters.

One other gap, LAB109-03-01, drilled by Noranda in 2004, returned:

1.40 g/t gold from 51.three meters to 52 meters;
zero.51 g/t gold from 107.three meters to 108.2 meters in iron formation inside basalt;
1.25 g/t gold from 109.5 meters to 112.1 meters, together with:
zero.99 g/t gold from 109.5 meters to 110.2 meters in iron formation inside basalt;
2.49 g/t gold from 110.2 meters to 111.1 meters in iron formation inside basalt;
zero.32 g/t gold from 111.1 meters to 112.1 meters in iron formation inside basalt.

The drill holes are near roads and accessible.

“Over four,000 meters of historic drilling has been performed at Golden Valley, so we all know that gold mineralization is there,” Black Tusk CEO Richard Penn informed Streetwise Studies. “The Laberge Deformation Zone, which has similarities to the gold-bearing Casa Berardi Fault construction, passes by means of the property.” Gold mineralization intersected in historic diamond drilling on the Golden Valley venture has by no means been adopted up, though the location is accessible.

“Many of the drill pads are very easy to entry. We’re primarily drilling solely about 330 meters off the aspect of the highway, so we are able to simply pull up with gear. We do not have to fly helicopters,” Penn defined.

“The location has infrastructure—roads, energy, water—and an area labor pool,” Penn added.

On June 10, Black Tusk reported that it acquired a drill allow to assemble 15 drill pads on the Golden Valley property and adopted up by asserting on June 24 that it expects to start diamond drilling on July 18. “These drill stations will enable for the testing of two gold-bearing buildings as outlined by historic work beforehand undertaken by different corporations,” the corporate said.

The primary stage of drilling may have two targets: goal 1 is designed to “confirm and broaden upon the presence of a gold-bearing shear zone intercepted in prior drill applications,” whereas goal 2’s proposed drilling is designed to “confirm and broaden upon the presence of gold-bearing iron formation construction intercepted in prior drill applications,” the corporate introduced. Stage 1 drilling will comprise as much as 1,500 meters over 10 websites.

Stage 2, the corporate famous, is “deliberate to comply with up on outcomes of the stage 1 drilling and is scheduled to start after all the samples have been analyzed and the info has been synthesized and interpreted. Stage 2 drilling will broaden upon important outcomes obtained from stage 1.”

“We anticipate to get drill outcomes again in August, and might do further drilling in September, guided by the assays,” Penn defined.

Black Tusk’s second venture, Goldsmith, is throughout Canada in British Columbia, within the Kootenays area. The realm has seen mineral exploration way back to 1865. The 885-hectare web site advantages from infrastructure comparable to year-round freeway entry and water, and the ability grid is simply 14.5 km away.

“Goldsmith is a high-grade gold property, a nuggety type of deposit that’s near floor,” Penn defined. “We went in there final fall with excavators and did a giant trenching program and we bought some actually good numbers, 14.42 g/t, 5/26 g/t and 5/34 g/t.” Outcomes from rock sampling returned assays as excessive as 29.89 g/t, 13.34 g/t and 9.61 g/t. Historic rock sampling has returned some eye-popping outcomes alongside the traces of 9901.eight g/t, 197.16 g/t and 140.16 g/t.

Regardless of these excessive numbers, this summer time Black Tusk is popping its consideration this summer time to Golden Valley, and can additional discover Goldsmith at a later time.

Business observers have their eyes on Black Tusk. Technical analyst Clive Maund wrote on on Might 20, “the charts for Black Tusk present excellent energy, to the extent that it’s value going for at once and it is a good candidate to change to from weaker shares. . . Black Tusk is rated an instantaneous sturdy purchase on the present favorable value (CA$zero.15).” Black Tusk shares are presently buying and selling at round CA$zero.15.

Bob Moriarty wrote final 12 months on 321 Gold, “On the very least the corporate is fascinating. They’re in a gold district, they did a really low-cost deal on the venture and have a tiny variety of shares.”

Black Tusk has roughly 25 million shares excellent, 30 million absolutely diluted, “which is extraordinarily tight; the typical firm of the Canadian Securities Change has 65 million shares excellent,” Penn said. Insiders maintain about 20% of the shares. The corporate trades on the CSE in Canada underneath the image TUSK and OTC in the USA underneath the image BTKRF.

Penn pressured that traders will not have to attend a very long time earlier than they discover out what Black Tusk has within the floor. “We’ve our permits to drill and can start to drill July 18. We must always have all our leads to August. All the pieces will probably be rolled out within the subsequent two to 3 months.”


1) Patrice Fusillo compiled this text for Streetwise Studies LLC and supplies companies to Streetwise Studies as an worker. She or members of her family personal securities of the next corporations talked about within the article: None. She or members of her family are paid by the next corporations talked about on this article: None.
2) The next corporations talked about on this article are billboard sponsors of Streetwise Studies: None. Click on right here for necessary disclosures about sponsor charges. As of the date of this text, an affiliate of Streetwise Studies has a consulting relationship with Black Tusk Sources. Please click on right here for extra info.
three) Feedback and opinions expressed are these of the particular consultants and never of Streetwise Studies or its officers. The knowledge offered above is for informational functions solely and isn’t a suggestion to purchase or promote any safety.
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5) Sometimes, Streetwise Studies LLC and its administrators, officers, workers or members of their households, in addition to individuals interviewed for articles and interviews on the location, could have an extended or quick place in securities talked about. Administrators, officers, workers or members of their instant households are prohibited from making purchases and/or gross sales of these securities within the open market or in any other case from the time of the interview or the choice to put in writing an article till three enterprise days after the publication of the interview or article. The foregoing prohibition doesn’t apply to articles that in substance solely restate beforehand printed firm releases. As of the date of this text, officers and/or workers of Streetwise Studies LLC (together with members of their family) personal securities of Black Tusk Sources, an organization talked about on this article.

Extra Disclosures:
Bob Moriarty, 321 Gold: Bob Moriarty: I, or members of my instant family or household, personal shares of the next corporations talked about on this article: None. Black Tusk Sources is an advertiser on 321 Gold. Clive Maund doesn’t personal shares of Black Tusk and neither he nor his firm has been paid by Black Tusk.

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