First Atlas Resources Corp. reports developments tied to its resource exploration portfolio, with recent updates centered on the Nova Scotia Project and natural hydrogen targets along a regional structural corridor. Company news has covered the use of Québec Innovative Materials Corp.'s R2G2™ exploration model, geophysical interpretation, field work, and drill planning used to refine hydrogen-anomalous zones.
Recurring disclosures also include corporate identity updates, mineral-claim portfolio management, and financing activity such as private placements and flow-through securities used to fund exploration programs. The company trades on the OTC Pink market under BTKRF and has also referenced Canadian and Frankfurt listings in its public releases.
Black Tusk Resources is acquiring the PegaLith Lithium project in Quebec, covering 636 hectares (1,571 acres) with significant lithium potential. Located 25 km north of Gatineau, the project is near historic mines that provided insights into lithium presence. Black Tusk paid $16,000 and will issue 4.6 million units at $0.075 each, totaling $345,000. The units comprise one share and one warrant, exercisable at $0.10 for two years. The exploration program for 2023 includes initial sampling of pegmatitic outcrops for lithium. Currently, shares are trading at $0.07.
Black Tusk Resources has entered a share purchase agreement to acquire 1396427 BC Ltd., the holder of the PegaLith project in Quebec. This project covers 636 hectares with strong mineral indicators for lithium potential, located 25 kilometers north of Gatineau. The acquisition includes an initial cash payment of $16,000 and the issuance of 4.6 million units valued at $345,000. Each unit consists of one common share and one share purchase warrant. The transaction is subject to Canadian Securities Exchange approval and is not expected to change control of the company.
Black Tusk Resources Inc. has closed a second tranche of its private placements, raising a total of $337,911.92. This includes 4,273,532 flow-through units for $260,411.92 and 1,550,000 non-flow-through units for $77,500. The flow-through units come with warrants to purchase shares at $0.10 and non-flow-through units at $0.075, both for two years. The funds will support mineral exploration and general working capital. Securities issued are subject to a four-month hold.
Black Tusk Resources Inc. has closed the initial tranche of its private placements amounting to $750,000 in flow-through funding, issuing 6,055,667 flow-through units priced at $0.06 each. Additionally, the company issued 10,370,000 non-flow-through units at $0.05 for gross proceeds of $750,000. In a debt settlement, $179,000 was settled for 3,580,000 common shares. Black Tusk aims to increase its offerings due to heightened demand, with remaining units available for both funding types.
Black Tusk Resources Inc. announced two private placements and a debt settlement on November 15, 2022. The flow-through funding will issue up to 8,333,333 FT Units at $0.06 for up to $500,000. Each FT Unit includes a common share and a half warrant at $0.10. The non-flow-through funding will offer up to 10,000,000 NFT Units at $0.05, also for $500,000, with similar warrant terms. The debt settlement involves $179,000 settled for 3,580,000 shares. Both placements are pending CSE approval.
Black Tusk Resources has announced a share consolidation plan, converting 10 pre-consolidated shares into one post-consolidated share. This move aims to enhance financing opportunities, attract increased investor interest, and improve trading liquidity. Currently, the company has 205,746,409 shares outstanding, which will reduce to 20,574,640 shares after the consolidation. The consolidation does not require shareholder approval but is subject to the acceptance of the Canadian Securities Exchange.
Black Tusk Resources Inc. has received drilling permits for its PG Highway and MoGold projects in Quebec. The geophysical survey by TMC Geophysique identified strong conductive anomalies at the PG Highway site, indicating potential for Volcanogenic Massive Sulphide (VMS) mineralization. The PG Highway project allows for up to 2,000 metres of drilling, while the MoGold site permits 500 metres. The targeted minerals include silver, copper, and zinc, with nearby known VMS deposits underscoring the region's mineralization potential. Drilling is set to commence soon.
Black Tusk Resources (OTCPink:BTKRF) has applied for drill permits for its PG Highway and MoGold projects in Quebec, encompassing 2,400 hectares. The PG Highway project recently underwent a TDEM survey, revealing strong conductive anomalies linked to potential VMS mineralization. The company plans to drill up to 2,000 meters at six sites. For the MoGold project, six anomalies were identified, with plans for up to 500 meters of drilling. Black Tusk holds full ownership of six gold and palladium projects in the Abitibi region. Shares are currently trading at $0.02.
Black Tusk Resources Inc. announced the process of obtaining drilling permits for its PG Highway and MoGold projects in Quebec. The PG Highway site will involve 2,000 meters of diamond drilling targeting potential VMS mineralization at depths of 50 to 300 meters. The MoGold project will allow 500 meters of drilling to investigate six localized anomalies near a mineral occurrence. Both projects are based on promising geophysical survey results indicating significant mineral presence.
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