CSE SYMBOL: SRS

SHAMROCK ENTERPRISES INC. SIGNS OPTION AGREEMENT TO ACQUIRE 100% OF THE TOPLEY-RICHFIELD POLYMETALIC MINERAL PROJECT

News Release

CSE: SRS

August 22, 2017

 

Shamrock Enterprises Inc.  (“Shamrock” or the “Company”), a Canadian mineral exploration company, is pleased to announce that further to its’ new release dated May 24, 2017,  has signed an Option Agreement to acquire from two private vendors, a 100% interest in the Topley-Richfield gold/copper/silver/lead/zinc project (The Project) located in the Bulkley Valley, 100 km southeast of Smithers, B.C. The Topely-Richfield Project consists of seven of contiguous mineral claims covering an area of 2,313 hectares. The Project hosts a number of old mine workings, shafts, trenches and drilling and has a reported “historic” reserves of 170,000 tonnes grading 3.5 g/t gold and 161 g/t silver (Ref B.C. AR# 17374, Esso Minerals of Canada, April 1988).

The Bulkley Valley is a prolific mining district within the Skeena Arch. Past and present mining projects within 100 km. of the Project include the Bell, Granisle, Huckleberry, Endako, Dome and Equity Silver mines. The Project is road accessible via highways and a network of logging roads. Work programs can be carried out year round.

Bob Faris, President and CEO states, “We are pleased to announce the Topley Richfield Agreement represents the second mineral prospect agreement Shamrock has signed this year whereby the company has the right to acquire a 100% interest in the exploration project. The Topley Richfield project adds significantly to Shamrock’s growing asset base of quality polymetalic mineral properties. The company plans to continue to review and asses prospective projects for acquisition in order to add to our current portfolio.”   

Brett LaPeare, exploration consultant with 27 years of experience said “It is evident that the bulk of the TR property is underexplored and represents an excellent opportunity for precious and base metal discovery. From the mid 1970’s to 1987 all exploration work was focused on enlarging the known polymetallic mineralization at the old mine workings discovered in the late 1920’s. It wasn’t until 2006-2008 that an exploration program was designed to test a much larger area of the tenement block. The results from the soil geochemical surveys have revealed at least three moderate to well-developed anomalies (specifically Cu and Ag) over areas of 100’s of metres to over 1km in length. The largest soil anomaly is also coincident with a substantial magnetic low similar to, but much larger, the magnetic low associated with known mineralization. During the 2017 GIS review a number of plan maps were generated plotting soil geochemical results with magnetic and IP (chargeability/resistivity) contours. The plotted results clearly show three significant soil Cu and Ag anomalies completely separate from and at variable distances from the main showing area.”

Topley-Richfield Project Highlights:

  • Approx. 1,500 meter of underground workings on two levels
  • Over 360 meters of sloughed in trenching to investigate
  • Only 12% of the tenement has been explored
  • Over 8,000 meters of drilling to date

 

Significant past drill Intercepts include:      

Interval

Gold g/t

Silver g/t

 

4.62 m

3.89

281

Ref B.C. AR# 35924 (Feb, 2016)

5.03 m

3.35

209

Ref B.C. AR# 08525A+B (Dec, 1980)

5.86 m

4.95

246

Ref B.C. AR# 08525A+B (Dec, 1980)

7.05 m

6.26

195

Ref B.C. AR# 08525A+B (Dec, 1980)

4.65 m

7.03

44

Ref B.C. AR# 08525A+B (Dec, 1980)

                             

The Topley Richfield project hosts the potential for:

  • Eskay Creek style of mineralization
  • Epithermal Gold/silver mineralization
  • Copper/Moly Porphyry mineralization        

 

Summary Terms of the Agreement

Shamrock Enterprises can acquire a 100% interest in the Project for total consideration of 1,00,000 shares, $200,000 in cash payments and a $200,000 work commitment over 4 years. The Project Vendors retain a 3% net smelter royalty with a buy-out of $1 million for each 1%. An advanced royalty payment of $20,000 per year begins on the 5th anniversary.

This news release uses the terms historical reserves. Readers are cautioned that the Company has not completed the work required to independently analyze and verify the results of the historical reserves stated by previous operators. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. The Company believes these historical results provide an indication of the potential of the property and are reported because they are deemed relevant to the description of the properties. The historical drilling information contained in this press release has been verified to the extent that the sources of information stem from reliable reports, drill hole records and plan maps generated when Cobre Exploration Ltd. was developing the deposit from 1979 to 1981 and in an unpublished Drilling Report by Caracle Creek International Consulting from October 2009. Actual assay certificates and individual assay intervals that comprise composite assay information are not available for verification. The contents of this news release have been reviewed and approved by Plen Dickson, P. Eng., a Qualified Person as defined in National Policy 43-101.

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.