— Engages Expert Engineering Firm
VANCOUVER, BC, September, 09 2022 (GLOBE NEWSWIRE) — Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (“REEs”) that drive the critical technologies of the future, is pleased to announce the initiation of activities in the performance of a preliminary economic assessment (“PEA”) at its emerging Peak Project in Hudspeth County, Texas.
To undertake the PEA planning efforts, Tactical Resources has engaged the services of Forte Dynamics Inc. (“Forte”), a consulting and engineering firm that specializes in open pit resource and reserve modeling, mine planning, blasting analysis, metallurgy, process design, recovery modeling, detailed engineering, and EPCM services. For more information visit www.fortedynamics.com.
The PEA work plan development efforts include a full assessment of data being compiled to complete a proposed N.I. 43-101 technical report on the Peak Project. This further includes historical data and results from recently completed field sampling, and ongoing metallurgical testing by Kemetco Research Inc. and Turnstone Metallurgical Services.
Forte has started work to develop and establish a detailed plan to take the Peak Project from its current state to a completed PEA. Forte proposes to incorporate all previous work and metallurgical testing data to complete a gap analysis and provide recommendations to advance the project. The gap analysis will evaluate historical data for quantity and quality and provide recommendation on areas where additional work will be required to complete a PEA. The ultimate outcome from this work will include a PEA roadmap for both current and future fines stockpile materials, and the broader Sierra Blanca land package.
Company CEO, Ranjeet Sundher adds, “Our enthusiasm continues to grow as we add expert investigative horsepower to this exciting REE project. Given our early property estimation and the fact our location is just two miles southeast of the Round Top Rare Earth Element project owned by the joint Texas Minerals Resources Corporation and USA Rare Earth operation, we felt it prudent to act decisively. This led to the recently announced strategic decision to amend our agreement with the owners of the Sierra Blanca quarry to strengthen our offtake position and include the option to acquire the entire project area. Amidst the backdrop of turbulent world events, our strategic goals for our Texas project remain stronger than ever.”
Tactical Resources is also pleased to announce that it has extended its online marketing agreement (the “Agreement”) with Promethean Marketing, Inc. (the “Provider”) to provide corporate marketing and investor awareness services to Tactical Resources (the “Services”) including, but not limited to, content creation management, author sourcing, project management and digital media distribution. In consideration for the Services, the Company has agreed to pay the Provider a media distribution budget of US$250,000 for one month worth of services.
On Behalf of The Board of Directors,
Chief Executive Officer & Director
Tactical Resources Corp.
About Tactical Resources Corp. (CSE: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia, and holds interests at the Peak Project in western Texas, the Lac Ducharme property located in Quebec, and the SAM property in Northern Saskatchewan. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the PEA planning work to be completed by Forte.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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Tactical Resources Corp.
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068