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Highlights
- Till sampling crew mobilized to camp and beginning work this week
- Plan to take a total of 3,000 till samples up-ice from identified gold and lithium anomalies
- Geology team arriving in next five days to begin boulder and outcrop prospecting
- Condensing two-phases of work into one to fast-track data collection and results
- Field work to be completed by
July 7 th with lab results expected in August
"We are incredibly excited for the field team to be returning to Opinaca for the first time since multiple gold-in-till and lithium-in-till anomalies were identified on the project", commented Targa CEO,
Opinaca Exploration Program
The primary goals of the exploration program at Opinaca are to narrow down the search area of the possible bedrock sources of the gold and lithium anomalies identified in 2023 till sampling and progress toward identification of drill targets. Kenorland Minerals will act as project operators for the duration of the 2024 exploration program, providing invaluable logistics, planning, and early-stage exploration experience in
Till Sampling
Originally planned as a 2-Phase program, both the regional tills (1km line spacing) and in-fill samples (250m line spacing) will take place back-to-back to speed up delivery of results and allow for at least 400 additional samples to be taken with the original
A portable X-ray fluorescence ("XRF") machine will be stationed in camp where samples will be prepped for scanning. Results from the 2023 till sampling showed a very strong correlation between gold and arsenic values. With arsenic values being much higher than gold and the element being easier to read with a portable XRF device, scanning in camp will allow for real-time data feedback from the regional-spaced samples. This will allow for positioning of the in-fill sample grids over the heads of the till trains without waiting for lab results and help direct where the prospecting team should focus their attention.
HMC Samples
A total of 40 heavy mineral concentrate ("HMC") samples will be taken in the areas of the gold and lithium anomalies. The 10kg samples of the till will be sent to a lab for separation into density fractions and analyzed under a microscope to look for and count gold grains to assess their quantity and shape. Gold grain shape can indicate possible travel distances and aid in narrowing down bedrock source locations. Spodumene grains will also be looked for in samples taken in the area of the 2023 lithium-cesium till anomaly to determine if the anomalous values are a result of the local presence of spodumene-bearing pegmatites.
Boulder and Outcrop Prospecting
A four-person geology and prospecting crew will be in the field starting
The geology team will also undertake mapping of the target areas to better understand the local geology and what geological units or structures may be related to the elevated gold values seen in till. There has been no historic mineral exploration conducted at Opinaca to Targa's knowledge and government geology maps of the region were produced with limited field stations, leaving many unknowns as to the detailed geology of the project area.
Field work is expected to be completed by
About the
About Targa
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: obtaining the required regulatory approvals; completion of the Offering; the proposed use of proceeds of the Offering; and the exploration and development of the Company's properties.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Targa, future growth potential for Targa and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of lithium and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Targa's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Targa's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Targa has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: price volatility of lithium and other metals; risks associated with the conduct of the Company's mineral exploration activities in
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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