Toronto, Ontario (FSCwire) - Tartisan Resources Corp. (CSE: TTC, FSE: 8TA) (“Tartisan”, or the “Company”) is pleased to announce that the Company has closed a Private Placement of 2 million units at $0.15 cents with Belgravia Capital International Inc. for proceeds of $300,000. Each unit comprises one common share and one share purchase warrant exercisable at the price of $0.15 cents for a period of one year. No commission was paid in conjunction with this placement.

 

Mehdi Azodi, President and CEO of Belgravia Capital states, “The development of the recently acquired Kenbridge and Alexo/Kelex Nickel-Copper-Cobalt Assets by Tartisan’s experienced board, management and key consultants, should only serve to enhance and create significant shareholder value as the underlying base metal sector improves.”

 

ABOUT TARTISAN RESOURCES CORP.

 

Tartisan’s assets include the Kenbridge Deposit hosting measured and indicated resources of 7.139 million tonnes of 0.62% nickel, 0.33% copper, and 0.016% cobalt; and inferred resources of 118,000 tonnes of 1.38% nickel, 0.88% copper, and 0.003% cobalt. In total a contained nickel resource of 97.8 million pounds and 47 million pounds of copper. The Kenbridge Deposit is equipped with a 623m shaft and has never been mined. Mineralization is open at depth and along strike. Tartisan has engaged MineMap Pty. Ltd. of Midland, Western Australia, as consulting engineer for the project to provide an updated block model and future plans for further development.

 

Tartisan also owns the Alexo-Kelex Nickel project near Timmins, Ontario, a former nickel producer.

 

Additionally, Tartisan owns a 100% stake in the Don Pancho Zinc-Lead-Silver Property in Peru just 9 km from Trevali’s Santander mine and owns a 100% stake in the Ichuna Copper-Silver Project, contiguous to Buenaventura’s San Gabriel property. Tartisan also owns a significant equity stake (6 million shares and 3 million warrants at 40 cents) in Eloro Resources Ltd, which is exploring and drilling the low-sulphidation epithermal La Victoria Gold/Silver Project in Ancash, Peru.

 

Tartisan Resources Corp. common shares are listed on the Canadian Securities Exchange (CSE: TTC, FSE: 8TA). Currently, there are 96,083,550 shares outstanding (107,417,594 fully diluted). Tartisan Resources Corp. is a member of the CSE Composite Index.

 

For further information, please contact Mr. D. Mark Appleby, President & CEO and a Director of the Company, at 416-804-0280 (mark@tartisanresources.com). Additional information about Tartisan can be found at the Company’s website at www.tartisanresources.com or on SEDAR at www.sedar.com.

 

Jim Steel MBA P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.

 

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

 

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

To view the original release, please click here

Source: Tartisan Resources Corp. (CSE:TTC, FWB:8TA)

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