{"id":271,"date":"2023-02-03T17:32:37","date_gmt":"2023-02-03T17:32:37","guid":{"rendered":"https:\/\/geologicaresource.com\/?p=271"},"modified":"2023-11-02T20:22:45","modified_gmt":"2023-11-02T20:22:45","slug":"completion-of-tac-claims-acquisition","status":"publish","type":"post","link":"https:\/\/geologicaresource.com\/completion-of-tac-claims-acquisition\/","title":{"rendered":"COMPLETION OF TAC CLAIMS ACQUISITION"},"content":{"rendered":"\n
VANCOUVER, BC, February 2, 2023 \u2013Geologica Resource Corp. (CSE:GRCM, FSE:862, Stuttagart:A2QQBC) (\u201cGeologica<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to announce that the TAC claims (the \u201cClaims\u201d<\/strong>) have been transferred to Geologica as per the Property Purchase and Sale Agreement (the \u201cAgreement\u201d<\/strong>) entered into on April 14, 2021. Under the terms of the Agreement the Claims were to be transferred to Geologica upon Geologica listing on a stock exchange.<\/p>\n\n\n\n TAC Claim Purchase and Sale Agreement<\/u><\/strong><\/p>\n\n\n\n On April 14, 2021, the Company entered into an agreement to purchase a 100% interest in a mineral property in British Columbia known as the TAC Claims. The property is strategically located within the Topley Claims and adds 37.4 hectares to the Company\u2019s land position. In order to complete the purchase of the property, the Company must make the following:<\/p>\n\n\n\n Cash payment:<\/p>\n\n\n\n Share issuances:<\/p>\n\n\n\n The number of shares to be issued is calculated based on the 10-day average closing price of the Company\u2019s shares immediately preceding delivery of notice of the share issuance to the vendor.<\/p>\n\n\n\n TAC Claims<\/u><\/strong><\/p>\n\n\n\n 2020 Geochemical Survey<\/p>\n\n\n\n The 2020 Geochemical survey conducted by Geologica identified a large potential gold anomaly with a strong correlation to copper anomalies on the Claims. The anomaly is lineal shaped striking east-west, having a strike length of about 900 meters and an average width of about 400 meters.<\/p>\n\n\n\n 2018 Rock Samples<\/p>\n\n\n\n In 2018 the vendor collected rock samples on the claims and had them analyzed. The presence of 0.50% copper in sample TC202 is of note as is the relatively high gold value (0.86 g\/t gold).<\/p>\n\n\n\n The Vendor first located three trenches on his claim that in his report, states \u201care not actually trenches per se but rather linear trends of steep outcrop exposure that have undergone continuous sampling. There is no evidence of blasting or digging.\u201d He then picked up sample #TC201 from the northern end of trench 10-10 and sample #TC202 from the southern end of trench 10-09. These samples were submitted to TSL Laboratories of Saskatoon, Saskatchewan for major oxide whole rock analyses and trace element ICP-MS analyses (aqua regia digestion).<\/p>\n\n\n\n Sample TC201 returned 1,433 ppm (0.14 %) copper, 93.5 ppm molybdenum, 1.0 ppm silver, 53.7 ppb gold, 1.74% iron and 0.09% sulphur (aqua regia digestion). Sample TC202 returned 5031 ppm (0.5%) copper, 299.3 ppm molybdenum, 2.8 ppm silver, 856.3 ppb gold, 2.16% iron and 0.75% sulphur (aqua regia digestion). The low iron and sulphur values are consistent with the general scarcity of pyrite observed in the rocks.<\/p>\n\n\n\n ABOUT GEOLOGICA RESOURCE CORP.<\/u><\/strong><\/p>\n\n\n\n Geologica Resource Corp. is a mineral explorer, building shareholder value through the acquisition of projects with significant technical merit. The Company has an option agreement and a purchase agreement for 100% of the mineral claims known as the Topley Project, located in central British Columbia.<\/p>\n\n\n\n TOPLEY CLAIMS<\/u><\/strong><\/p>\n\n\n\n The accuracy of the technical content of this overview has been reviewed by John Buckle P.Geo., who is a Qualified Person as defined under NI 43-101, and a member of the Company\u2019s board of directors.<\/p>\n\n\n\n Further information on Geologica Resource Corp. can be found on the Company\u2019s website<\/p>\n\n\n\n https:\/\/geologicaresource.com\/<\/a> and on SEDAR at<\/p>\n\n\n\n https:\/\/www.sedar.com\/DisplayCompanyDocuments.do?lang=EN&issuerNo=00039876<\/a><\/p>\n\n\n\n\n
\n
\n