Sep. 2, 2020
September 2, 2020 – Smooth Rock Ventures Corp. (“Smooth Rock” or the “Company”) (TSX.V:SOCK) is pleased to announce it has received a Notice of Intent (the “NOI”) exploration permit from the U.S. Bureau of Land Management (the “BLM”) to conduct exploration and drilling on the Palmetto Project. The Palmetto Project consists of 79 unpatented mining claims totalling 1600 acres located in Esmeralda County, Nevada, within the southern portion of the Walker Lane gold trend.
The NOI exploration permit with the BLM covers the disturbance areas created to establish drill road access and drill sites within the Palmetto Project. The Company, when possible, attempts to drill multiple holes from single drill pads on existing roads to minimize the amount of surface disturbance created by drilling activities. The Company can amend the NOI exploration permit over the next 2 years to increase the permitted disturbance areas for additional drill sites and access roads with further bonding at the Palmetto Project.
Smooth Rock’s field crews have completed a detailed ground land survey of the Palmetto claim blocks. Field crews have successfully located most of the historical drill holes completed by the previous operators of the exploration programs on the Project. The land survey was conducted with a Trimble Pro XRT2 L1/L2 GPS receiver capable of accuracies within 10 centimeters (4 inches).
The data from the ground survey is now being used in compilation with the 3D modeling data from the historic resource estimation completed by WSP Canada Inc. (“WSP”) (Palmetto Resource Estimation and Technical Report, April 26, 2018). Smooth Rock’s geologists are presently determining drill hole collar locations for the upcoming drill program at Palmetto.
Smooth Rock has retained WSP Canada Inc. (see news release 08-28-20) to upgrade the Palmetto historical mineral resource estimate into a current mineral resource estimate. The model and estimation will be reviewed and repeated by the WSP author and qualified person, Todd McCracken, P.Geo, in accordance with updating an historic resource estimate into a current mineral resource.
Finally, Smooth Rock field crews and geologists have completed extensive geological mapping and sampling at the nearby wholly owned Giroux Project (see news release 05-19-20), in anticipation of the future drill program here. Further results from Phase I of the Giroux exploration program are expected to be released shortly.
The Giroux Project is located in Mineral County, Nevada within the Walker Lane shear zone, consisting of 12 patented claims and 36 unpatented mining claims with a combined area of 390 hectares (965 acres), The Giroux Project is less than 1 mile off a main state highway with easily accessible year-round access.
The Property hosts the past producing Giroux Mine, the mine is reported to have produced high-grade nickel ore in the late 1800s (Mining Districts and Mineral Resources of Nevada, Lincoln, 1923 The Giroux Property contains numerous historical workings consisting of underground workings with multi-level vertical shafts, several adits at different sub-levels, open pits, and existing roads that provide access to the historical workings. Of particular interest is the presence of an overthrust nickel bearing serpentinite formation. In addition to nickel mineralization, the property contains gold, copper, silver, as well as lead-zinc and barite mineralization.
About the Palmetto Project
Smooth Rock owns an 100% undivided interest the Palmetto Project subject to no outstanding royalties. The Palmetto Project consists of 79 unpatented mining claims totalling 1600 acres located in Esmeralda County, Nevada, within the southern portion of the Walker Lane gold trend.
The Palmetto Gold Project has had significant exploration work completed to date by Newmont Gold, Phelps Dodge Corp, Cambior Inc., Romarco Minerals, Curran Corp., Amselco Minerals and Escape Gold Group Inc. To date, 173 drill holes totaling 43,940 meters have been completed on several targets within the Project. The initial “Discovery Hole” in 1988, was drilled by Phelps Dodge and bonanza gold silver veins were subsequently drilled by Romarco Minerals in 1997-2002.
The Palmetto Gold Project was most recently explored by ML Gold Corp. The property has an historic resource estimation completed by WSP Canada Inc. (“WSP”) for ML Gold Corp. in 2017 (Palmetto Resource Estimation and Technical Report, April 26, 2018). The historic mineral resource estimation was completed using NI 43-101 standards of practice and classified as an inferred resource is summarized in the table below.
0.14 g/t AuEq cut-off
2.0 g/t AuEq cut-off
The open pit estimation was calculated using a pit shell generated by applying certain economic constraints (ML Gold Corp. News Release Oct 2, 2017). No exploration activities have been completed on the project since the completion of this mineral resource estimate. Smooth Rock Ventures Corp. is not treating this as current mineral resource and considers this an historical estimate.
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ), a consultant of the Company, and an independent Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD
“Alan R. Day”
Alan R. Day
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Smooth Rock Ventures Corp.
(TEL)- (888) 909-5548, (FAX)-(888) 909-1033
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