Tactical Resources Provides Top Highlights of 2022
VANCOUVER, British Columbia, Dec. 20, 2022 (GLOBE NEWSWIRE) — Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on rare earth elements (“REEs”) that are driving the critical technologies of the future, is pleased provide a summary of activities in year-end review.
- Achieved successful public listings
- Transforming the Texas-based Peak project into a showpiece
- Positive initial metallurgical extraction results obtained from laboratory scale testwork
- Identified potential lithium by-product opportunity
- Initiated strategic plans aimed at accelerating PEA planning towards production scenarios
“It has been an exciting and busy year in Tactical Resources’ relatively short history,” notes Ranjeet Sundher, CEO of the Company. “We got off to a flying start with our Texas-based Peak project and really haven’t slowed down since. Peak continues to grow from strength to strength as we believe it is becoming increasingly clear that our initial assessment of this flagship was well founded. Partnering with an already existing and fully operational quarry was an important value driver for us. At the quarry we observed the potential for REE-rich material in our initial analysis and over the past year we have achieved a number of notable milestones and are very proud of our achievements to date. Here are some of the top highlights from the past year.”
Public Sector Highlights
In the first quarter of 2022, the company was listed on the Canadian Stock Exchange (CSE) with access to public markets under the trading symbol “RARE”. By the second quarter, the company had obtained US trading DTC authorization to participate in US capital markets.
During the first three quarters of the year, Tactical Resources expanded internal and external partnerships (metallurgical, legal, marketing, financial, capital markets, engineering, procurement, project management) to support our business growth plans. The team also conducted industry and sector reviews to strengthen our corporate strategy with a focus on domestic assets, advanced projects and clean tech processing. In particular, the company has divested non-core assets to streamline its portfolio and pool resources, turning the Peak project into its flagship property. Learn more about the Peak project at: https://tacticalresources.com/investors/#corporate-video.
The Company has prepared a National Instrument (NI) 43-101 Technical Report for the Peak project to serve as a basis for future project development work. The company also hired several contractors and expanded its consulting team. The completion of initial laboratory scale metallurgical testwork at the Peak project has demonstrated preliminary total rare earth element (TREE) plus yttrium (Y) extraction rates of 88% to 96%. The team proceeded to identify a potential lithium by-product that could add value to the project. Based on all of these positive indicators, management has initiated a Preliminary Economic Assessment (PEA) planning effort to identify project development and value creation paths.
“We have identified what we believe to be significant potential and are working on an accelerated rare earth production model that we hope to be able to finalize in the coming months,” said CEO Sundher. “It is an exciting time to be involved in the critical minerals space in America and we look forward to an even busier year as we continue to realize the potential of this exciting project.”
Tactical Resources is focused on becoming a leading North American developer of REE products to meet domestic supply chain needs. Visit the Tactical Resources website (https://tacticalresources.com/) for more information.
On behalf of the Board of Directors,
Chief Executive Officer & Director
Tactical Resources Corp.
The disclosure of the Company’s metallurgical information in this news release has been reviewed and approved by Norman Chow, P.Eng of Kemetco. Norman Chow is a Qualified Person as defined by National Instrument 43-101.
About Tactical Resources Corp. (CSE:RARE) (OTC:USREF)
Tactical Resources is a Vancouver, British Columbia-based rare earth element mineral exploration and development company with interests in the Lac Ducharme property in Quebec and the Peak project in western Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock the REE development potential. Learn more at: www.tacticalresources.com and follow us Twitter.
Disclaimer for Forward-Looking Information
This press release contains statements and information that, other than historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, and statements of future plans, objectives or economic performance, or the assumptions underlying the foregoing. In
In some cases, forward-looking statements are qualified by words such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, ” Forecast”, “project”, “estimate”, “outlook” or the negative thereof or other similar expressions referring to matters that are not historical facts. Examples of such statements include, but are not limited to, statements regarding the Company’s plans to accelerate PEA planning efforts.
Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of its experience and perception of trends, current conditions and expected developments and other factors that management believes are relevant and reasonable under the circumstances at the time correspond to the utterance, but which may turn out to be false. Significant factors and assumptions used in developing the forward-looking information contained in this press release include, among others, key personnel and qualified employees who continue to work for 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 changes thereto that apply to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including without limitation, risks related to the Company’s future business plans; risks that the company will not be able to retain its key personnel; Risks that the Company will be unable to secure financing on reasonable terms or at all and all other risks described under the heading “Risk Factors” in the Company’s full prospectus dated 28 February 2022. Accordingly, readers should not place undue reliance on such forward-looking information. In addition, forward-looking information speaks only as of the date such statement is made. New factors arise from time to time and it is not possible for the Company’s management to predict all of these factors and the impact of each of these factors on the Company’s business or the extent to which any one factor or combination of factors may could cause actual results to differ materially from those contained in the forward-looking information. The Company undertakes no 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
Phone: +1 (778) 613-2068