Tartisan Nickel closes Sill Lake acquisition
2019-06-17 07:04 ET – News Release
Mr. Mark Appleby reports
TARTISAN NICKEL CORP. COMPLETES ACQUISITION OF SILL LAKE SILVER-LEAD PROPERTY, SAULT STE. MARIE MINING DIVISION, ONTARIO
Tartisan Nickel Corp. has closed the acquisition of the past-producing Sill Lake silver-lead property, Vankoughnet township, Sault Ste. Marie mining division, Ontario.
The Sill Lake acquisition includes 13 single-cell mining claims and four boundary-cell claims that total about 372.8 hectares. Lead-zinc-silver mineralization was discovered at Sill Lake in 1892; since that time sufficient works have been completed so as to define a (historical) measured and indicated resource of 112,751 tonnes of 134 grams per tonne silver, 0.62 per cent lead and 0.21 per cent zinc. A 60 g/t cut-off for silver was used, with no cut-off used for base metals content. About 7,000 tonnes were exploited from the Sill Lake project to produce a lead-silver concentrate which was sold to nearby smelters.
Consideration for the acquisition paid to the vendor, Klondike Bay Resources, comprising cash payment of $15,000, the issuance of 700,000 shares and a 2-per-cent net smelter royalty. One per cent of the net smelter return may be repurchased by Tartisan Nickel for $250,000.
Tartisan chief executive officer Mark Appleby noted, “The Sill Lake silver-lead deposit joins the Kenbridge nickel-copper-cobalt deposit in the Tartisan portfolio as brownfield development projects with excellent greenfield exploration potential.”
Tartisan will now move to visit the Sill Lake silver-lead project to take confirmation samples of exposed vein material as well as surface structural mapping and evaluation of surface infrastructure. In addition, the company is reviewing an opportunity to evaluate surface and shallow mineralization across the entire Sill Lake property as part of a satellite-based spectral analysis targeted to silver-lead mineralization.
About Tartisan Nickel Corp.
Tartisan Nickel is a Canada-based mineral exploration and development company that owns a 100-per-cent stake in the Kenbridge nickel-copper project in Ontario and a 100-per-cent interest in the Don Pancho zinc-lead-silver project in Peru just nine kilometres from Trevali’s Santander mine. Tartisan also owns a 100-per-cent stake in the Ichuna copper-silver project, also in Peru, contiguous to Buenaventura’s San Gabriel property.
Jim Steel, MBA, PGeo, is the qualified person under NI 43-101 and has read and approved the technical content of this news release.
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