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Black Tusk (CSE:TUSK) announced non-brokered private placements ~ Both flow-through & Regular units

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The company is looking to raise gross proceeds of up to $1 million from the placement of up to 12.5 million flow-through units priced at $0.08 per unit. For the regular units, the company is looking to raise gross proceeds of up to $500,500 from the placement of up to 7,150,000 units priced at $0.07 per unit. Both units consist of 1 share and 1 warrant, with the warrant exercisable at $0.10 for 60 months

Additional Information:

Company: Black Tusk Resources
Website: http://www.blacktuskresources.com
Stock Symbol: CSE: TUSK
Date Published: Sep 2, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media
Black Tusk Resources has announced non-brokered private placements for both flow-through and regular units.
The company is looking to raise gross proceeds of up to $1 million from the placement of up to 12.5 million flow-through units priced at $0.08 per unit
For the regular units, the company is looking to raise gross proceeds of up to $500,500 from the placement of up to 7,150,000 units priced at $0.07 per unit.
Both units consist of 1 share and 1 warrant, with the warrant exercisable at $0.10 for 60 months.
A syndicate led by Palisades Goldcorp will be making a strategic investment in this offering.

The shares are trading at $0.08.

Richard Penn, President & CEO, stated: "We are very pleased to have Palisades Goldcorp as a strategic investor in Black Tusk. Palisades Goldcorp's strategic investment is an excellent endorsement to the potential of our gold projects specifically the McKenzie East flagship property in the prolific Abitibi Greenstone Belt. These funds will allow us to substantially increase the size of our planned drill program at McKenzie East. We look forward to unlocking the value potential of our gold projects for shareholders."

Black Tusk Resources is a gold-focused Canadian exploration company with operations primarily based in the world-class Abitibi greenstone belt region of Val d'Or, Quebec, where the company currently holds 100% ownership in 5 separate gold and palladium projects in Canada.

Black Tusk also owns a piece of the historic British Columbia gold mining scene, by way of the high-grade South Rim Gold Property in the Smithers Mining camp of central British Columbia.

The company’s flagship gold project is The McKenzie East Gold Property, which comprises 2 claim groups separated by 1 kilometer, located 30 kilometers north of the city of Val-d'Or, Quebec.

The surrounding region is extremely active for gold exploration companies, with exceptional existing infrastructure and several mills and operating gold mines in the immediate area.

The Phase 1 drilling program, slated to begin in early to mid-September, will consist of a minimum 1,000-metres of diamond drilling, with the initial 5 drill holes targeting depths between 200 to 300 metres downhole.

It is designed to test the mineralization potential of several anomalous features that occur within the northwestern section of the 1,676-hectare property.

The drilling program will test a corridor of interest that includes elevated gold associated with copper returned from the 203 samples that were collected in May and processed by SGS Minerals Lab using their innovative trademarked Mobile Metal Ion process which provides results that are more meaningful in areas of exploration where the overburden is considered deep.

The geologic team has recently added 4 historic diamond drill holes to the McKenzie East database, which were completed within the Black Tusk target corridor.

They returned significant gold results including intercepts of 2.8 grams per tonne gold over 0.3 meters and 0.9 grams per tonne gold over 0.3 meters from CO94-10, and 1.0 grams per tonne gold over 0.3 meters from hole C-94-13.

For more information, please visit the company’s website, www.blacktuskresources.com, contact Richard Penn, CEO, at 778-384-8923, or email richard@blacktuskresources.com.

I’m Cassandra Bolinski for Investmentpitch Media