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Sector
NewswireTM
Sector: Mining - Metals and Minerals
:
News Release - April
28, 2017 05:10 PM ET
Tasca
Resources Ltd. Files NI 43-101 Report on the Bleiberg Pb-Zn-Ge
Project, Austria
NEW
YORK, NY, April 28, 2017 /Sector Newswire/ -
Tasca Resources Ltd. (TSX VENTURE: TAC)
(Frankfurt: 3TA)
announced that a National Instrument 43-101 Report (the
"Technical Report") has been completed for the Bleiberg Pb-Zn-Ge
project in the Bad Bleiberg district of southern Austria.
This news falls on the heels of news
that the Company has engaged Montaningenieurgemeinschaft
Consulting Engineers OEG (“MCE”) of Austria to initiate the
permitting process for the further exploration of the Bleiberg project.
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Tasca advancing
major 6% Zinc, 1% Lead, & 200ppm Germanium historic past producer
Tasca Resources Ltd. (TSX-V: TAC)
(Frankfurt: 3TA) Bleiberg Zn-Pb-Ge property is a major historic
past producer, 116 mining claims covering 35 km, located 140 km SE
of Salzburg in southern Austria. First discovered in the 12th
century, the Bleiberg property has been mined along 8 km of strike
to a depth of 900 m by way of ~1,120 km of underground tunnels and 6
main shafts. The Bleiberg mine operated from the 1300’s through to
1993, when it closed as part of a larger bankruptcy of an Austrian
state owned mining conglomerate VOEST,
however this mine is high-grade and was highly productive;
historically producing ~500,000 tons per year (in its later years
using highlt mechanized modern mining methods), and it was the 6th
largest Germanium producer in the world -- average grades were 6%
Zinc, 1% Lead, 200 parts per million (ppm) Germanium, 10%
fluorite, and economic amounts (~2,000 ppm) of cadmium. The
historically mined mineralized bodies were stratiform zones ranging
from 1 metre thick and 100 metres in diameter to 5 metres thick and
several hundred metres in diameter.
 The
risk-reward characteristics are highly advantageous for investors
establishing a long position in TAC.V as the current market cap
(~$1.42M Canadian, trading at 10 cents/share) relative to the
enormous inherent value of Tasca Resources'
Bleiberg Zn-Pb-Ge property
is disproportionate, the share price is poised for significant
upwards revaluation. The Company is executing on a plan to quickly
add value by advancing the property to a point where a higher degree
of the potential is recognized. Currently there
appears exploration potential for 30 - 50 million tonnes of
material left behind in the hanging wall on strike with previous
working, additionally the western section is also highly prospective
for new discovery.
Image 1. Sample of
Bleiberg area workings. There are >1,100 km of tunnels from
historic exploration & production. More than 3 million
tonnes of Pb and Zn metal have been recovered from the
Bleiberg deposits since initial mining in the year 1333
until closure in 1993.
The fact this mine was a meaningful and
successful past producer gives the Company an advantage and
mitigates risk for early investors that understand the magnitude of
what the Tasca possesses. Copious amounts of geological research
from a wide range of institutes and universities support a
geological target in the order of 30 to 50 million tonnes with
historic grades of 6% Zn, 1% Pb, and 200 ppm Ge. This belief has
also been speculated by the chief mining geologist at the time the
mine was closed, he published a documents that also detailed
annual exploration consisting of 35,000 m of drilling and the
creation of ~3 km of
drifting/annum as well -- this geologist is still available for
consultation as required.
On a project of such magnitude, the fastest
path to profits for a junior exploration company is to make the
value apparent to larger/well capitalized mining companies. Tasca
will demonstrate
the aforementioned potential in-part, starting with the compellation of data -- there is lots of material locked up
in archives, past reports, and past exploration data that needs to
be plotted up. Additionally, we note the Austrian government, on its own, is looking to do
a 3D diagram of the entire deposit from data they have.
Image 2 (below).
Sample of Bleiberg area workings.
The objective of Tasca's 2017
exploration program
will be to confirm the volume of unmined
mineralized material remaining and to define targets for initial
exploration, leading to underground drilling. A nominal,
possibly ~5,000 m, underground drilling program will affirm the
potential in part, and generated a significantly higher ranking of value for the
Bleiberg Zn-Pb-Ge asset. See related
April 20, 2017 news release "Tasca
Files NI 43-101 Report on the Bleiberg Pb-Zn-Ge Project".
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Excerpt of
April 20, 2017 news release from Tasca Resources:
Tasca Files NI 43-101 Report on the Bleiberg
Pb-Zn-Ge Project
Vancouver, British
Columbia (FSCwire) - Tasca Resources Ltd.
("Tasca", “TAC” or the "Company") (TSX Venture
symbol: TAC) (Frankfurt: 3TA) is pleased to
announce that a National Instrument 43-101
Report (the "Technical Report") has been
completed for the Bleiberg Pb-Zn-Ge project in
the Bad Bleiberg district of southern Austria,
130 kilometres southwest of Salzburg. The
Technical Report can be viewed on SEDAR.
The Technical Report noted exploration potential
exists in the western sections of the historic
Bleiberg mine, in both a search for hanging wall
and foot wall mineralization within the main
Bleiberg structural zone and exploration for
“scholle” zones.
The Bleiberg mine operated from the 1300’s
through to 1993, when it closed as part of a
larger bankruptcy of an Austrian state owned
mining conglomerate. More than 3 million tonnes
of Pb and Zn metal have been recovered from the
Bleiberg deposits since initial mining in the
year 1333 until closure in 1993. The mine
geologist during the final years of production
estimated roughly 2 million tonnes of metal
remains. Metal content varied from 1% Zn to more
than 30% Zn in massive sphalerite bodies.
Production during the final years of production
concentrated on zones containing more than 7%
Zn.
Early historic production came first from the
Maxer Bänke, a thick cyclic sequence of shallow
marine carbonates averaging 0.4% Pb and 2.8% Zn
that yielded approximately 60,000 tonnes of Pb
and Zn and later from metal-rich stratabound
mineralization of the Bleiberg Facies:
oval-shaped bodies found subparallel to the
bedding and within discordant fissures and veins
averaging 1% Pb and 5% Zn along with economic
concentrations of germanium.
The “scholle” mineralization was found in 1951,
soon after resulting in the discovery of the
Kalkscholle, Riedhartscholle and Josefischolle
zones. The “scholle” mineralization is a
stock-shaped zone of breccia networks and
locally as coarse masses of sphalerite averaging
0.5% Pb and 4.5% Zn. The three zones contained 8
million tonnes at an average combined Pb Zn
grade of 6%, where Zn/Pb ratios range from 6:1
to 10:1. These orebodies led to the introduction
of more highly mechanized mining methods
resulting in increases in production to 500,000
tonnes per year during the later years of
mining.
Note: Tasca cautions investors it is not relying
on this 8 million tonne historic estimate as it
has been unable to review any of the data used
to calculate this estimate. Tasca is treating
this estimate as a geological target, meaning
the potential quantity and grade of this
geological target is conceptual in nature, there
has been insufficient exploration to define a
mineral resource, and it is uncertain if future
exploration will result in the target being
delineated as a mineral resource. Tasca has not
yet been able to review the assay plans or
sections, drill logs and production data to
document the historic tonnages and grade. Tasca
has not yet been able to review the production
data to determine how much of the 8 million
tonnes has been mined and how much remains.
An initial exploration program of review and
compilation of the voluminous historic data
within the various archives in Austria is the
first step with an objective of confirming the
volume of unmined mineralized material remaining
and defining targets for underground drilling. A
5,000 foot underground drilling program is
recommended as the second step.
Qualified Persons
The scientific and technical information
contained in this news release has been reviewed
and approved by R. Tim Henneberry, P.Geo., an
independent consulting geologist who is a
"Qualified Person" as such term is defined under
National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101").
For additional information regarding the above
noted property and other corporate information,
please visit the Company's website at
www.tascaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
For further information, please contact:
Tasca Investor Relations
Phone: (604) 644-6794
Email: tascaresources@gmail.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in
the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This news release contains certain statements
that may be deemed "forward-looking" statements.
Forward looking statements are statements that
are not historical facts and are generally, but
not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar
expressions, or that events or conditions
"will", "would", "may", "could" or "should"
occur. Although Tasca Resources Ltd. believes
the expectations expressed in such
forward-looking statements are based on
reasonable assumptions, such statements are not
guarantees of future performance and actual
results may differ materially from those in
forward looking statements. Forward looking
statements are based on the beliefs, estimates
and opinions of Tasca Resources Ltd. management
on the date the statements are made. Except as
required by law, Tasca Resources Ltd. undertakes
no obligation to update these forward-looking
statements in the event that management's
beliefs, estimates or opinions, or other
factors, should change.
###
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Tasca Resources has Engaged Consulting Engineers for Bleiberg
Permitting -- This April 11, 2017 the Company announced it has
engaged Montaningenieurgemeinschaft Consulting Engineers OEG (“MCE”)
of Austria to initiate the permitting process for the further
exploration of the Bleiberg zinc-lead-germanium-fluorite project.
MCE has been engaged to design and permit the Phase I exploration
program at Bleiberg. In order to minimize the permitting timeline,
MCE has determined exploration should be focussed from the
underground workings, rather than surface. MCE is proposing
geophysical surveys consisting of IP and seismic surveys within the
workings, focussing primarily on the crosscut access drifts to
search for additional footwall and hanging wall structures within
the structural zone and also new structures along strike to the
northwest. The surveys will be followed up with a Phase II
underground diamond drilling program.
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Table 1. Annual Production from Bleiberg Mine 1990-1993
(the last 4 years of production prior to closing)
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|
Mined (tonnes) |
Milled (tonnes) |
|
year |
wet |
dry |
Pb |
Zn |
Pb con |
Pb |
Zn con |
Zn |
|
1990 |
274,203 |
265,977 |
2,187 |
17,661 |
2,012 |
1,494 |
29,301 |
16,727 |
|
1991 |
253,859 |
246,375 |
1,915 |
16,354 |
1,504 |
1,152 |
25,664 |
14,827 |
|
1992 |
232,664 |
225,759 |
1,715 |
15,787 |
1,228 |
920 |
23,700 |
13,511 |
|
1993 |
253,822 |
246,969 |
2,047 |
20,014 |
1,814 |
1,340 |
33,219 |
18,983 |
|
total |
1,014,548 |
985,080 |
7,864 |
69,816 |
6,558 |
4,906 |
111,884 |
64,048 |
Source: Annual Austrian Mining Compilation
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"More
than 3 million tonnes of Pb and Zn metal were
recovered from the Bleiberg deposits from
initial mining in 1333 until closure in 1993.
The mine geologist during the final years of
production estimated roughly 2 million tonnes of
metal remains"
Information
source: Cerny and Schroll, 1995 (non NI 43-101) |
Historic mining occurred in mineralization
formed in stratiform zones ranging from 1 m
thick by 100 m in diameter to 5 m thick and
several hundred m in diameter. Indications
are that there is substantial hanging wall
mineralization not yet exploited in parts of
the mine, as the footwalls were primarily
targeted. in the later years of production
the past operators shifted from chasing
smaller sulphide pods and began chasing
larger zones that were slightly less in
grade but were move voluminous.
The “scholle” zone
mineralization was found in 1951, soon after
resulting in the discovery of the
Kalkscholle, Riedhartscholle and
Josefischolle zones. The “scholle”
mineralization is a stock-shaped zone of
breccia networks and locally as coarse
masses of sphalerite averaging 0.5% Pb and
4.5% Zn. The three zones contained 8 million
tonnes at an average combined Pb Zn grade of
6%, where Zn/Pb ratios range from 6:1 to
10:1.
Several
highly prospective exploration targets:
Targets consist of two new zones, one in the
hanging wall of the known structure, the
other across the fault in the western
section of the property.
There are three large apparently mineralized lenses that are
expected to be part of initial exploration
focus for Tasca going forward, and help
provide a good shot at that 30M to 50M t of
Zinc-Lead ore. There is a tunnel that is ~15
km long and that hooks up with another
tunnel that is 8 km, it is above the water
table so it is an adit that drains --
Tasca's exploration team will be able to go
in and use that right off the bat. The
property size is large and exploration
potential is highly prospective for
discovery. The same type of rock continues
on other areas of the property.
The deposit is
Mississippi
Valley type with stratabound
lead and zinc mineralization in Triassic
lagoon facies limestones and intercalated
carbonates.
Exceptional
risk-reward characteristics:
Strengthening prices for zinc, lead and
increasing demand for germanium (used in
fibre-optic systems, infrared optics, solar
cell applications, light-emitting diodes,
and some types of semiconductors) makes the
Bleiberg Zn-Pb-Ge Property a good project
for quick asset appreciation, especially
considering the mine has already proven
itself with stellar grades and historic past
production.
Related Research Links:
- SEDAR Filings for Tasca
Resources Ltd..:
SEDAR URL
- Tasca Resources Ltd.
Corporate Website:
http://www.tascaresources.com
- Recent article:
http://miningmarketwatch.net/tac.htm
This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.
SOURCE: Sector Newswire editorial
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