Toronto, ON / ACCESSWIRE – December 17, 2021 – Tashota Resources Inc. (the “Company” or “TRI”) is pleased to announce that it has completed the first of at least two planned 1,500 metre exploratory diamond drillholes at its Hemlo West property. Drill cores have been delivered to Activation Laboratories Ltd. (Actlabs) and the Company is now awaiting results, which may take several weeks (due to backlogs).
TRI’s Hemlo West property is adjacent to Barrick Gold’s Hemlo property, just 2,500 metres from the world-class Williams Mine. Hemlo West is also a mere 1,200 metres from Barrick’s own drilling activities in its promising “E-Zone”, which is situated along shear zones that head directly into Hemlo West. Indeed, TRI’s drill site was so close to Barrick’s property that drilling on the first hole had to stop 100 metres short of the 1,500 metre planned depth as it was approaching Barrick’s property due to the angle of the drill hole.
The Hemlo Gold Camp has produced some 22 million oz Au over the past 30+ years and continues to produce. Indeed, Barrick produced 223,000 oz. Au and is projecting to produce between 200,000 and 220,000 oz Au in 2021 (according to Barrick’s website). Moreover, Barrick has extended the projected life of the mine past 2030 based on its multi-million oz Au NI 43-101 resource estimates. TRI will be releasing results from its drill program as soon as they are available.
While waiting for the results from Actlabs on the first drill hole at Hemlo West, TRI’s drill rig was moved to its 50% owned 5,000+ acre Echo Ridge property in the Shebandowan Greenstone Belt, 110 km west of Thunder Bay where an eight drill hole program was completed. Drill cores from this program are also now being delivered to Actlabs. The Echo Ridge drill program was a follow up to the summer drill program that produced encouraging results. Shebandowan is another historic gold producing site and it hosts Goldshore Resource Inc.’s Moss Lake property, which has 1.47 M oz of Indicated and 2.51 M oz of Inferred historical gold resources (according to Goldshore’s website).
Charles Elbourne, Director, President and CEO of TRI said, “We are looking forward to receiving the results from Actlabs for both Hemlo West and Echo Ridge and to continuing executing on our planned drilling programs at both properties. These drill programs are the result of recent capital-raising activities and represent the commencement of Phase 1 of our exploration programs.”
About Tashota Resources Inc.
Tashota Resources Inc. (“TRI”) is a Prospect Generator junior resource Exploration Company currently focused on defining and monetizing the mineral deposits on its multiple properties that cover nearly 45,000 acres in historically prolific gold camps in Northern Ontario. TRI has a stellar management and advisory team with significant exploration, engineering, project financing and permitting experience, including decades-long experience in prospecting and mining operations in the Hemlo, Shebandowan, and Beardmore-Geraldton Gold Camps where TRI has significant property interests.
ON BEHALF OF THE BOARD,
Charles J. Elbourne, President & CEO
For further information, please contact:
Charles J. Elbourne, President & CEO
Tashota Resources Inc.
82 Richmond St. East, Suite 401
Toronto, Ontario M5C 1P1
Telephone: 416-315-6490
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.tashotaresources.com
Cautionary Note Regarding Forward-Looking Statements and Information
This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact and implications of drill results of the Company; the timing and amount of estimated future exploration and success of such exploration activities; and the anticipated results of the Company’s plan to develop and implement a drill program on the Hemlo West project; the Company’s planned expansion of the Hemlo West project. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “schedule”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on precious metals; there being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties inherent to any mineral resource estimates; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
In presenting this information, Tashota Resources Inc. is not making an offer to sell nor soliciting an offer to buy any securities, certifying the completeness or accuracy of this information, or assuming that the recipient is qualified to consider this opportunity. Accordingly, this document does not and is not intended to comply in any manner with any United States or Canadian securities or disclosure laws or requirements. Prior to making or soliciting any such offer, the Company will provide access to such information and will comply with the requirements of applicable securities laws.
