CSE SYMBOL: SRS

Shamrock Adds to Milly Porphyry Copper-Gold Property, Central British Columbia

News Release

CSE: SRS

March 27, 2019  

 

Shamrock Enterprises Inc.  (“Shamrock” or the “Company”), is pleased to report that it has staked an additional 2360.3 hectares of claims to the west and south of its Milly porphyry copper-gold property, located approximately 50 km southwest of Mackenzie B.C., in central British Columbia. The newly-staked claims become part of the original option agreement (see NR Dec. 11, 2018), and the property now consists of seven tenures covering 9376.8 hectares (Figure 1). It lies only 25 km southeast of Centerra’s Mount Milligan deposit, which hosts a resource of 2.84 billion pounds of copper and 7.50 million ounces of gold.

Previous work on the Milly property includes over 6000 soil samples, 50 rock samples, and 33 percussion and 13 diamond drill holes. Soil sampling outlined two broad soil geochemical anomalies that occur along a northeast-southwest trend. The northeast anomaly is characterized by a 4 km long x 1 km wide gold-in-soil anomaly of excellent tenor, while the southwest area consists of two large coincident copper and gold soil geochemical anomalies that are roughly circular in plan, approximately 4 km in diameter, and which surround locally outcropping mineralization that has yielded grab samples returning up to 1.1% copper, 24 g/t silver and 0.9 g/t gold. Nearby float samples also grade up to 2.4% copper, 0.6% molybdenum and 1.5 g/t gold.

In the past, work on the present-day Milly property was carried out by a number of operators over what were several different claim blocks with different owners. As a consequence, and aside from regional-scale government aeromagnetic surveys, no systematic property-scale geophysical surveys were run across the full extent of the property. This is significant given the typical thick cover at Milly, where up to 50 m of glacial drift is commonly found overlying bedrock.

Drill holes testing the strong geochemical anomalies in the southwest part of the property were generally shallow and drill holes were collared only from logging roads. Rocks encountered in the drill holes include those with common well-developed propylitic and weak sericite alteration and were generally only locally and weakly mineralized with copper and gold.  The best drill intercept on the Milly property averaged 0.09% copper and 0.08 g/t gold over 68.32 m, including an interval averaging 0.14% copper and 0.115 g/t gold over 35.28 m. The best drill results on the Windy property, which underlie a claim inlier on the Milly property, returned up to 0.16% copper and 0.19 g/t gold over 38.4 m.  While these results are all sub-economic, the encouraging alteration and mineralization intersected, together with the presence of large-scale Cu-Au geochemical anomalies and Cu-Au mineralized intrusive rocks in float and outcrop, are all suggestive of the potential presence of a nearby and sizeable copper-gold porphyry system, which is the target of Shamrocks planned exploration at Milly.

For 2019, Shamrock is planning to fly a detailed airborne magnetic survey and is also planning to supplement the existing geochemical data with a broad and wide-spaced biogeochemical survey. This new data, together with existing geochemical data, should help to identify potential porphyry-related targets on the property. These will be followed up with ground-based Induced Polarization geophysical surveys, with the ultimate aim of identifying specific targets for a late fall or winter drill program. 

Access to the Milly property is excellent, as it is serviced by an extensive network of logging roads. Its relatively low elevation and gentle topography provide an opportunity for a long and efficient exploration season.

Charles J. Greig, P.Geo. of C.J Greig and Associates and a Director of Shamrock, stated, “The size and tenor of the historic soil anomalies on the Milly Property are very encouraging. Ice flow indicators directly match the soil geochemical trends, and mineralized outcrop within the southwestern anomaly could indicate that the distance of glacial dispersion may be minimal. Initial exploration will consist of a modern high-resolution magnetic survey and a widely spaced biogeochemical grid to vector towards the sources of the geochemical anomalies. The most prospective geochemical and geophysical targets will be covered by IP surveys, followed by diamond drilling, if warranted.”

The contents of this news release have been reviewed and approved by Charles J. Greig P.Geo., 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 gold, 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”

President and CEO

For further information, please contact:
Shamrock Enterprises Inc.
 
Bob Faris, Chief Executive Officer
Phone: (604) 880-2121
 
Milly Additional Claims NR Final Figure - March 27 2019
Figure 1
 
 

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.