Taku Gold Corp.

Taku Gold Corp.

April 09, 2014 09:00 ET

Taku Earns 100% of Rosebute Property in the White Gold Area of Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2014) - Taku Gold Corp. (the "Taku") (TSX VENTURE:TAK) is pleased to announce that as of March 30, 2014 it has made all the cash payments, incurred all the required work expenditures, and issued and delivered all the shares due to vendor Shawn Ryan ("Ryan") under the Option Agreement (the "Agreement") executed on March 30, 2010 for the Rosebute Property ("Rosebute") in the White Gold area of Yukon. Accordingly, Taku is now deemed to have exercised the Option and to have acquired an undivided 100% right, title and interest in and to Rosebute. Ryan retains a 2.0% Net Smelter Returns royalty on mineral production, half of which (i.e., 1.0%) Taku may purchase for $2,000,000.

The 694-claim (14,080-hectare) Rosebute property is located approximately 65 kilometres ("km") due south of Dawson City. Taku has completed extensive exploration on Rosebute including 1,107km of airborne radiometric and magnetic geophysical surveys, 10,087 deep auger-type soil geochemical samples, 90 prospecting rock samples, 963 metres ("m") of drilling in four holes, 1,341m of trenching in nine trenches, 7,885m of induced polarization and resistivity geophysical surveys on 19 lines, 680m of Geoprobe® bedrock geochemical sampling.

To date, three target areas have been identified. The "Nor'West" zone consists of a cluster of three gold-in-soil anomalies within a circular feature covering roughly 450 hectares in the northern part of the Rosebute Property. The first anomaly is located in the northern part of the area. It is well defined over an east trending length of 900m and shows maximum values up to 212 parts per billion gold ("ppb Au") or 0.2 grams per tonne gold ("gpt Au"). The second anomaly is located in the southern part of the area. It is well defined over an east trending length of 500m and shows maximum values up to 1,334ppb Au or 1.3gpt Au. The third anomaly is located in the eastern part of the gridded area. It is well defined over an east trending length of 450m and shows maximum values up to 254ppb Au or 0.3gpt Au. In July 2012, 963m of drilling was done in four holes to test the subsurface extent of the three gold-in-soil anomalies that collectively make up the Nor'West zone. Three of the four holes returned notable gold intersections. Including 0.95gpt Au over 23.4m from 22.6m in the first hole, 1.58gpt Au over 1.0m from 19.0m in the second and 0.88gpt Au over 3.0m from 66.0m in the fourth.

The second or "HudBay" zone was first identified approximately 2.5km southwest of the Nor'West zone with two discreet anomalous ridge and spur samples collected in 2011. Subsequent detailed sampling has outlined a very strong gold-in-soil zone trending northwest over a length of at least 1200m that varies from 150 to 350m wide and shows a maximum value of 0.9 gpt Au in soils. The southern end of the zone is especially strong with almost every sample showing strongly anomalous gold-in-soil values greater than 60ppb Au within an area 500m long by 350m wide. Trenching in 2011 traced the zone over a 600m horizontal distance highlighted by sampling that included 6.17gpt Au over 5.0m in one trench and 1.50g/t Au over 20.0m in a second trench.

In 2013, Geoprobe® bedrock geochemical sampling found highly anomalous results with maximum values up to 4.3gpt Au. Together the soil geochemical, trenching and Geoprobe® results clearly define a linear, north-trending, gold-bearing structure that varies from 10 to 30 metres wide over a horizontal distance o 1,100m. Very strong correlation is seen between gold and silver, tellurium, mercury and, to a lesser degree tungsten and arsenic. Moreover, corresponding resistivity trends recognized by geophysical surveys completed in 2013 further delineate the extent of the HudBay zone.

The third or "Southeast" zone is identified by an anomalous gold-in-soil trend approximately 750m southeast of the Hudbay zone that varies from 50 to 250m wide over a length of 650m with maximum values up to 96ppb Au. The induced polarization and resistivity survey completed in 2013 outlines a resistivity trend that corresponds very well to the gold-in-soil trend. Although the Southeast zone has much smaller dimensions and lower gold values than the Nor-West or Hudbay zones, it is nonetheless interesting.

In summary, the Rosebute property offers one of the best exploration plays in the White Gold area. To date, no drilling has been completed on the HudBay or Southeast zones and only limited drilling has been done on the Nor'West zone. All three target areas are well-defined by geochemical and/or geophysical trends and are at the drill-ready stage. Taku is actively seeking a joint venture partner to continue exploration work on Rosebute.

"Rosebute remains an excellent gold project despite the down-turn in Yukon's exploration sector. One way or another we hope to make a significant discovery on this property with drilling," comments Zak Dingsdale, president and CEO of Taku.

All analytical results mentioned in this release were determined by Acme Analytical Laboratories Ltd. ("Acme") in

Vancouver, British Columbia. Acme is accredited under ISO 9001. Rock and core samples were prepared by crushing one kilogram to 80 per cent passing minus 10 mesh and then pulverizing a 250-gram subsample to 85 per cent passing minus 200 mesh. Each subsample was analyzed for 36 elements (including gold) by 15 gram Aqua Regia digestion, ICP-MS finish. In addition, each subsample was analyzed for gold by 30g fire assay, ICP-ES finish. Soil samples were prepared by drying and sieving 100g to -80 mesh, and then analyzed for 36 elements (including gold) by 15 gram Aqua Regia digestion, ICP-MS finish.

Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of
National Instrument 43-101 that reviewed and approved the technical content of this release.

About Taku Gold Corp.

Taku Gold Corp. (http://www.takugold.com) is a mineral resource company focused on the exploration and development of precious metal properties in Canada with a particular emphasis on the White Gold District of the Yukon Territory and the Tagish Lake region of Northern British Columbia.

On Behalf of the Board,

Zachery Dingsdale, CEO and President

Taku Gold Corp.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Statements in this release that are forward-looking are subject to various risks and uncertainties as identified above and in the Company's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

Contact Information

  • Taku Gold Corp.
    Zachery Dingsdale
    CEO and President
    604.642.0115 or Toll Free 866.345.0115
    604.642.0116 (FAX)