{kanada_flagge}It is most amazing to see the extensive portfolio of gold projects that the small explorer Black Tusk (CSE: TUSK, Frankfurt: 0NB, OTC: BTKRF) has been able to secure in the heart of Quebec’s gold industry in Val d’Or. The acquisition of these projects would probably be almost impossible today, or at least very expensive.
The secret of Black Tusk is simple: the company positioned itself when the gold market was weak. Now, finally, in a better gold market and after a successful financing of $2,368,606, Black Tusk has the resources to explore its projects properly. The neighborhood is teeming with illustrious names and gold projects, such as Agnico Eagle’s (TSX: AEM) Goldex Mine and the Malartic Mine, now operated by Agnico and Yamana, which provides Osisko Royalties (TSX:OR) with regular good returns.
Planned drilling program to be doubled
The first project that Black Tusk is now targeting is the McKenzie East Project, which is located adjacent to Monarch Gold’s (TSX: MQR) McKenzie Break Project. Black Tusk is looking to capitalize on the findings that this large neighbor has made during its exploration. Black Tusk Resources has just announced that it has doubled its planned diamond drill program at the McKenzie East Gold Project.
The additional metres of drilling will allow for an even more thorough testing of the target zones at McKenzie East, which has already been established through soil sampling, detailed drone assisted magnetometer surveys, 3D IP surveys and historical drilling. The Company may also be able to expand exploration drilling beyond the initial 2,000 metres once successful results are received at McKenzie East.
Figure 1: Black Tusk’s projects are located in Val d’Or, Quebec. The “golden valley” has received its name from a number of successful gold mines, some of which have been operating there for more than 100 years.
Black Tusk’s Mckenzie East Project is located just six kilometers from Monarch’s Mckenzie Break. Monarch Gold, a prospective mid-size producer with advanced assets in the Abitibi greenstone belt, has already categorized its Mckenzie Break project as “advanced exploration”.
Figure 2: Extract from the current presentation of Monarch Gold. It is interesting to note that the mineralization becomes thicker and higher grade towards the east.
For Black Tusk, the exploration results of its close neighbor, just 1 kilometre west, are of great value. What is of interest is that geologist Dr. Mathieu Piche has recently joined Black Tusk’s Board of Directors. Dr. Piche has previously worked for Monarch Gold and knows the local geology like no other. Piche has more than 35 years of experience in the Abitibi greenstone belt. Piche was awarded the Quebec Geologist’s Merite Geoscientifique Award for his contributions to the geosciences. It is safe to assume that Black Tusk knows what it is doing when it drills.
Black Tusk has a market capitalization close to 10 million CDN and is currently trading at a share price of 0.07 cents. If drilling is successful on the McKenzie East Gold Property, the project is likely to be of interest to their neighbor Monarch Gold. We believe that this speculation alone could boost the stock price of Black Tusk.
Visit us on YouTube: https://www.youtube.com/user/GOLDINVEST
Follow us on Twitter: https://twitter.com/GOLDINVEST_de
Risk note: GOLDINVEST Consulting GmbH offers editors, agencies and enterprises the possibility of publishing comments, analyses and news on http://www.goldinvest.de. These contents are meant exclusively for the information of the reader and do not represent a request for action of any kind, neither explicitly nor implicitly are they to be understood as an assurance of possible price developments. Furthermore, they in no way replace individual expert investment advice and do not constitute an offer to sell the share(s) in question or an invitation to buy or sell securities. This is expressly not a financial analysis, but rather an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here act entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information only refers to the company, but not to the investment decision of the reader.
The purchase of securities involves high risks which can lead to the total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the guarantee of topicality, correctness, appropriateness and completeness of the articles offered here is expressly excluded. Please also note our terms of use.
In accordance with §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares of Black Tusk Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, Black Tusk Resources and GOLDINVEST Consulting GmbH have a contractual relationship that includes GOLDINVEST Consulting GmbH reporting on Black Tusk Resources. This is another clear conflict of interest.
