Vancouver, British Columbia–(Newsfile Corp. – January 18, 2023) – SASQUATCH RESOURCES CORP. (CSE: SASQ) (“Sasquatch” or the “Company“) is pleased to announce that it has released a video highlighting the potential waste rock opportunities that may exist at its Mount Sicker Property located in southern Vancouver Island, British Columbia. The video has been uploaded to the Company website, and can also be viewed via the following link.
Sasquatch Waste Rock Video
As described in the video, the Mount Sicker Property has volumes/piles of mined rock, considered to be waste during historical operations between 1895-1906 (the Tyee, Lenora and Richard III Mines) and between 1943-1952 (the Twin J Mine).
As most of the mining activity at Mount Sicker happened over 100 years ago, during a time when cut-off ore grades for processing were generally higher than today, the case for economic potential in waste rock becomes more interesting. Historically, copper, gold, silver and zinc, were mined at Mount Sicker. Waste rock associated with these past operations could still contain economic concentrations of these elements.
The Company has already had numerous discussions with locally-based mining engineering groups and intends to hire one such group to formally investigate the modern-day potential for small-scale processing of waste rock at Mount Sicker. We expect to provide further updates along these lines, as well as further updates in relation to our ongoing exploration at Mount Sicker, in the coming weeks.
Pete Smith, the Company’s CEO, commented that, “One of the more obvious things you notice when standing in the Historical Mining Zone at Mount Sicker are these massive waste rock piles, which in some areas seem to extend in all directions and dominate the landscape. We believe there may be an economic case as well as an environmental case for processing these waste rock piles. Given how far small-scale processing technology has come, both in terms of mitigation of environmental impact and potential for recovery, and given the high levels of copper, gold and zinc we have seen in the grab samples collected from those waste rock piles, fully investigating this opportunity has become one of our priorities. Perhaps most exciting is that we may have an opportunity to leave Mount Sicker in a far better environmental state than how we found it.”
A total of twelve grab samples were taken directly from the three largest waste rock piles in 2021 and returned the following values:
Lenora:
Richard III:
Tyee:
While readers are cautioned that grab samples are not representative of the grades and continuity of mineralization, the presence of anomalous copper, gold and zinc across these grab samples certainly suggests that these waste rock piles should be further investigated for economic potential. A complete list of samples taken and lab analyzed at Mount Sicker since 2010 has been reproduced on our website, and many of those are also fully described in our NI 43-101 Technical Report dated May 15, 2022 (the “Mount Sicker Technical Report”), which is also available on our website and in our disclosure record on SEDAR (www.sedar.com).
Qualified Person
Jacques Houle, P. Eng., a “Qualified Person” for the purpose of National Instrument 43-101, has reviewed and approved the scientific or technical information included in this news release. Further scientific or technical information in this document respecting the Mount Sicker Property is based on the Mount Sicker Technical Report.
About the Company
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedar.com) or contact the Company by email at psmith@sasquatchresources.com or by telephone at 778.999.7030.
On Behalf of the Board of Directors
Peter Smith
Chief Executive Officer
778.999.7030
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward looking information may prove to be incorrect, including with respect to the Company’s business plans respecting the exploration and development of the Mount Sicker Property, the proposed work program on the Mount Sicker Property and the potential and economic viability of the Mount Sicker Property. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. 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, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151665
