CSE SYMBOL: SRS

SHAMROCK ENTERPRISES INC. OPTIONS HOMATHKO GOLD PROJECT

News Release

CSE: SRS

July 6, 2017

 

Shamrock Enterprises Inc. (“Shamrock” or the “Company”), a Canadian mineral exploration company, is pleased to announce it has optioned the Homathko Gold project located in British Columbia from Transition Metals Corp. of Sudbury Ontario (“Transition”) (XTM – TSX.V).  The property hosts high grade gold occurrences and consists of 9 staked claims covering 2985.57 hectares located in the Caribou Regional District.

Mineralization on the property was first identified by Falconbridge Limited in 1966 where it reported grab and trench sampling returning up to 384 grams per tonne gold values. Work completed by Transition has identified a larger, high grade lode gold system traced along 1.5 km of strike length.  The mineralization is hosted within quartz/carbonate veining developed within and near the margins of a shear bounded, altered quartz-feldspar porphyry sill. Based on field observations geologists from Transition have interpreted that the environment for mineralization on the property appears consistent with that of a traditional mesothermal lode gold deposit which bears many similarities to similar deposits occurring elsewhere in the Stikine belt (Pioneer/Bralorne District, Elk Gold Mine etc.).

The Homathko Property is located approximately 200 kilometres west of Williams Lake. The property lies near the contact of the eastern edge of the coast plutonic suite. Until recently, Homathko Peak was thought to consist of a massif of granodiorite belonging to the Cenozoic aged Tiedemann complex over thrusting and intruding deformed Mesozoic volcanic and metasediments. Recent age dates taken at Mt Homathko identify that the age of the Homathko Peak tonalite to be 154.3 +/- 0.3 Ma. It is believed that the property is largely underlain by deformed Jurassic aged volcanic and intrusive rocks of the Stikine Terrane.

 

Homathko Project Highlights:

 

  • Grab and trench samples returning up to 384 g/tonne (11.2 oz/ton) gold in 1966

                (Source: BC Mines Property File, Falconbridge File 184 – Report on Homathko Gold       Prospect, 1965, J/J. MacDougall),

 

  • Grab samples returning up to 64.5 g/ton gold in 1989 -  B.C. Assessment Report #18977,

 

  • Grab samples up to 87.5 g/tonne Au in 2010 by Transition Metals – B.C. Assessment Report # 32197,

 

  • To date, the Homathko Project has never been drill tested,

 

  • Shamrock can earn a 100% interest in the Homathko Project.

 

 

Under the terms of the option agreement, Shamrock can earn a 100% interest in the claims by providing Transition with $5,000 cash, $100,000 worth of Shamrock stock and completing $500,000 of exploration expenditures within 3 years.  If Shamrock earns its interest, Transition will hold 2% Net Smelter Return royalty (NSR), of which Shamrock can purchase half (1% NSR) for $1,000,000 prior to the commencement of commercial production.

The technical elements of this press release have been approved by Mr. Plen Dickson, P.Eng.,  a Qualified Person under National Instrument 43-101.

  

About Transition Metals Corp

Transition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity project generator. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the company to acquire properties inexpensively. The Company has an expanding portfolio that currently includes more than 25 gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Minnesota and Saskatchewan.

 

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.