CSE SYMBOL: SRS

Shamrock Discovers Gold Mineralization and Outlines Encouraging Soil Geochemical Anomalies at the Portland Property in BC's Golden Triangle

News Release

CSE: SRS

September 20, 2018

 

Shamrock Enterprises Inc. ("SHAMROCK" or the “Company”) is pleased to announce the results of Phase 1 exploration program at its Portland Property, located approximately 20 km north of Stewart, in B.C’s “Golden Triangle,” The Portland property consists of the Portland, Kimball Lake and American Creek claim blocks, and the work program focused largely on the Portland block, which covers an area of over 24 km2 straddling Highway 37A and the powerline running between Stewart and Meziadin Junction.  One day of exploration was also conducted on the American Creek and Kimball Lake blocks, which lie 6 and 12 km north of the Portland block, respectively.  

A total of 175 soil, 33 stream sediment, 5 moss mat and 31 rock samples were collected from the Portland property, the bulk of which were collected from the vicinity of the Portland and Victor showings. The program was designed to relocate the actual Portland and Victor showings, which were discovered in the early 1900’s, and to assess the Kimball Lake and American Creek areas.  Historical work indicates that the Portland showing consists of a 60 cm wide pyrite-rich quartz vein that yielded 8.6 g/t gold and 432 g/t silver, and the Victor Showing comprises massive sulphide lenses grading up to 582.9 g/t silver, 44.0% lead and 22.6% zinc (B.C. Minfile 104A 031 and 104A 030).

Phase 1 crews failed to locate either of the Portland or Victor showings, but soil sampling successfully outlined geochemical anomalies coincident with historic locations for the gold and silver mineralization.  In addition, at Portland, three float samples of quartz-carbonate vein breccia hosting 2-7% fine to coarse grained pyrite collected from a steeply incised drainage yielded between 0.22 to 1.18 g/t gold, and sampling along soil contour lines below the showing yielded an extensive multi-element soil geochemical anomaly (Figure 1).  Soil sampling at the Victor showing also highlighted a number of areas of interest.  Two returned anomalous values for zinc (up to 735 ppm), lead (up to 207 ppm), silver (up to 8.1 ppm) and arsenic (up to 1960 ppm), while a third yielded a point anomaly which returned 227 ppb gold and 154 ppm copper.

Figure 1 From initial Portland field work

Figure 1: Gold mineralization near the Portland Showing and arsenic-in-soil used as the pathfinder element for the hydrothermal fluid footprint to outline the associated areas of interest for follow up exploration.
 

Charlie Greig, a Board Member of Shamrock and a Professional Geologist with considerable experience in the Golden Triangle, stated: “Credit to Shamrock’s field team for a job well done. Below treeline in the Stewart area can be a tough place to traverse, but the rewards in the Golden Triangle can make it all worthwhile. The positive results of the soil geochem survey clearly merit follow-up work and we look forward to seeing what that work will bring.”

Planning for follow-up work to be undertaken before season’s end is underway, with consideration being given to further soil geochemical work, prospecting and reconnaissance ground geophysical surveys.

While only limited prospecting and stream sediment sampling was carried out at the Kimball Lake and American Creek blocks, the results are encouraging.  At American Creek, a 50 cm wide chip sample collected across a 0.5 to 1 m thick semi-massive to massive arsenopyrite vein returned over 10,000 ppm arsenic, 463 ppm zinc and 177 ppm molybdenum. No significant results were returned from the Kimball Lake work, but less than half of the claim was assessed in the short time on the ground.

The Portland property is underlain by sedimentary and volcanic rocks of the Lower Jurassic Hazelton Group, which play host to many of the most significant mineral deposits in the Golden Triangle, including the Brucejack (Pretivm), Eskay Creek (Barrick, Skeena Resources), Silbak-Premier (Ascot Resources), and Granduc (Castle Resources) deposits.  The rocks underlying the Portland property therefore have the potential to host both structurally and stratigraphically-controlled precious and base metals mineralization.

Charles J. Greig, P. Geo., a member of the Company’s Advisory Team and a Board Member, is a Qualified Person under the definition of National Instrument 43-101. Mr. Greig has reviewed and approved the technical information in this press release.

All soil, silt and rock samples have been delivered to ALS Global’s preparation facility in Terrace BC for precious metal and multi-element analysis. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO / IEC 17025:2005 from the Standards Council of Canada.

About Shamrock: Shamrock Enterprises Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of silver and other precious metal properties in North America.  The Company’s common shares are listed and posted for trading on the Canadian Securities Exchange (“CSE”) under the symbol “SRS”.

On behalf of the Board,

“Bob Faris”

CEO

For further information, please contact

Shamrock Enterprises Inc.

Bob Faris, Chief Executive Officer

Phone: (604 880-2121

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider

accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.  Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.