VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (“REEs”) that drive the critical technologies of the future, is pleased to announce it has completed a geophysics work program at its Lac Ducharme Project in Canada’s province of Quebec.
Building on previously completed surface sampling and geochemistry at the Lac Ducharme project, a ground magnetic survey and a ground radiometric survey was performed in May and June 2022 by Exploration Facilitation Unlimited Inc. (“EFU”) on the Lac Ducharme Rare Earth project located within the Côte Nord Region in eastern Quebec. EFU, a comprehensive discovery-focused services company that specializes in advancing underexplored properties through their technical field services completed the field data collection for the program.
The Company also engaged the services of Consulting Geophysicist Jean Hubert, a professional engineer and member of l'Ordre de Ingénieurs du Québec and of the Society of Exploration Geophysicists (SEG) who processed and interpreted the resulting data generated by the EFU team.
The work program consisted of a magnetic and radiometric survey over the core of the property. The output lineaments will be used to gain a better spatial understanding of the structural geology and lithological units and how they relate to the known REE showings on the property. This survey is a key component of the toolbox approach to advance the Lac Ducharme project. The magnetic survey totaled 50.2 line-kilometers including 39.4 traverse lines and 10.7 of tie lines which were read with GMS-19V Overhauser magnetometer. The radiometric survey consisted of 894 measurements of the total radiation from near surface concentrations of key rare earth pathfinder elements potassium, uranium, and thorium.
Following processing, interpretation was completed by Consulting Geophysicist Jean Hubert to produce magnetic lineaments (Figure 1). These lineaments are key for structural analysis as they are potential indications for faults and allow interpretation in areas under cover with limited rock exposure.
Figure 1 – Total Magnetic Field with interpreted magnetic lineaments for the Lac Ducharme Project. Light Rare Earth Element occurrences are indicated with a yellow diamond.
Company CEO, Ranjeet Sundher, notes, “Our efforts in Canada are an important part of our overall strategic plan for the rare earth segment across North America. We are developing a strong portfolio that provides us with an ability to leverage increased private industry and governmental interest in the sector that offer both short-and long-term horizons of opportunity. In Canada, the government is working to ‘develop a comprehensive understanding of the nation’s mineral needs over the medium to long term,’ with nearly $4 billion proposed in the latest budget for a critical minerals strategy to boost supplies. Combined with our Company’s efforts in the USA, we are excited by the prospects the burgeoning REE sector can mean for Tactical Resource’s corporate growth and commensurate shareholder value on both sides of the border.”
Tactical Resources is focused on becoming a premier North American developer of REE products to meet domestic supply chain needs. For more information, please visit the Tactical Resources website.
On Behalf of The Board of Directors,
Sincerely,
~Ranjeet Sundher~
Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com
Notes
Jean Hubert, P. Eng., geophysicist and consultant to the Company is the Qualified Person as defined in NI 43-101, who has reviewed and approved the scientific and technical content of the press release.
About Tactical Resources Corp. (CSE: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia, and holds interests at the Lac Ducharme property located in Quebec, the Peak Project in western Texas, and the SAM property in Northern Saskatchewan. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the geophysics work program to be undertaken by EFU and the anticipated results therefrom, and the Company’s strategic plan for its REE projects in North America.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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CONTACT INFORMATION
Tactical Resources Corp.
Investor Relations
Email: investors@tacticalresources.com
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068
Email: info@tacticalresources.com
Media Inquiries
media@tacticalresources.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b7bec5c-8939-4e1d-b468-72b9eacee644
