Subject: BUSINESS CONTRACTS
Tearlach Engages Drill Contractor for Phase 1 Drill Program at The Gabriel Lithium Project in Nevada
VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF) (FRANKFURT: V44) ("Tearlach" or the "Company") is pleased to announce that it has engaged TonaTec Exploration LLC, of Elko Nevada, to conduct the Phase 1 core drill program commencing this month at the Company's Joint Ventured Gabriel Project formerly the Blackrock Silver (TSXV: BRC) Tonopah North Lithium Project in Nevada.
Program Highlights:
- Planned Phase 1 drill program of a 3000-meter core drill program.
- Re-drill several past holes with Core drilling to perform concurrent metallurgical testing and understand geological constraints.
- 19-hole program down to a maximum depth of 200 Meters.
- Permits with BLM submitted with expected mobilization in February.
TonaTec is recognized by the exploration community as a leading drill company with experience operating in the Tonopah area. A collaborative relationship with Blackrock Silver has created operational, and contractor synergies for both companies that management believes represents a unique advantage.
CEO Morgan Lekstrom commented, "From signing the initial Joint Venture and engaging a world-class team of geologists with significant clay lithium experience to permitting and anticipated drilling to commence all within two months, this shows the commitment the entire team has to advance The Gabriel Project. We plan to expand on the original discovery in what is becoming a leading lithium district with American Lithium and American Battery Metals Corp, which are companies with significant market caps and our neighbors. Both companies have seen significant shareholder value creation, and we believe we can come out as a leader in the area through our accelerated programs, geological team, as well as a unique engineering approach."
About Tearlach
Tearlach is a Canadian exploration company engaged in the acquisition, exploration, and development of lithium projects. Tearlach holds an interest in the Final Frontier Project, which includes the Pakwan, Pakwan Extension, and Margot Lake Claim block, which is in close proximity to Frontier Lithium's flagship claims and proximal to the Spark and PAK deposits. Tearlach holds interests in the Wesley, Harth, and Ferland properties, all located in the lithium hub of northwestern Ontario, Canada. The Wesley Property borders Green Energy Metals' Root Lake Project, where a 24,000 m drill program is currently underway. Pegmatite dykes have - been encountered on the Harth Lithium Project, which is 8 kms west of the Wesley Lithium Project. Prospecting and mapping have confirmed pegmatite dykes on the Ferland Lithium Property, 10 km east of Green Technology Metals' Seymour Lake Project. Tearlach holds interests in the Flizar, Muscovite Ridge and Rose North Properties in the James Bay area of Quebec, and each property hosts pegmatites. Tearlach intends to explore these assets and develop a portfolio of projects in North America through acquisition. Tearlach's primary objective is to position itself as the leading lithium exploration and development company in North America. Additional information on the Company is available at the website at www.tearlach.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
TEARLACH RESOURCES LIMITED
Morgan Lekstrom
Chief Executive Officer and Director
Suite 610 - 700 W. Pender Street
Vancouver, BC, Canada V6C 1G8
Tel: 604-688-5007
Forward-looking statements
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties, and other factors beyond the Company's control. Forward-looking statements in this press release include statements regarding the anticipated drill program and the timing thereof, that the Company's relationship with Blackrock Silver will provide synergies and a unique advantage, the intention to expand on prior discoveries by Blackrock Silver and the belief that the Company will be a leader in the Tonopah area. Mineral exploration is highly speculative, and characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. The Company's Canadian public disclosure filings may be accessed via www.sedar.com, and readers are urged to review these materials.
Neither the TSX Venture Exchange nor its Regulation Service provided (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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