Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Smooth Rock Ventures Corp. (TSXV: SOCK) ("Smooth Rock" or the "Company") is pleased to announce it has signed an Option to Purchase Agreement ("the Agreement") to acquire a 100% undivided interest in 28 unpatented mining claims in the Chucker Project. The Chucker Project is located in the Silver Star Mining District, within Mineral County, Nevada, in the Walker Lane gold trend.
The Chucker Project consists of 28 unpatented mining claims with a combined area of 226 hectares (560 acres) that covers numerous prospect pits and past producing small scale high grade gold mines. Several altered and mineralized shear zones with metal rich quartz veins are exposed on the surface.
The property also contains a surface exposure of the range front fault which was historically mined from a shaft. The Chucker Project is located within the intersection of the Walker Lane shear zone and associated Mina Deflection of the Walker Lane. This combination creates major fault zones or conduits for ascending mineralized solutions. From observation and historic assay values, gold, silver, lead, zinc and copper are found in amounts that demonstrate significant potential for exploration. There is no evidence of modern-day exploration or drilling on the property.
The Chucker Project is located 60 miles southeast of Hawthorne, Nevada or 5 miles southwest of Marietta, Nevada, easily accessible via state and secondary roads with year-round access. The Chucker Project is located in close proximity to past producing mines such as Marietta Mines, Moho, and Camp Douglas. The core portion of the property has been held by private interests for over 40 years.
Smooth Rock can purchase an undivided one hundred percent (100%) undivided interest in the Chucker Property as follows: (i) $10,000.00 USD (paid) upon signing of the option to purchase agreement. (ii) the issuance of 2,000,000 common shares of the Company within 5 business days upon receiving TSX Venture Exchange Approval. (iii) On or before one (1) year from the date of the signing of the Agreement a final payment of $10,000.00 USD.
The Chucker Property is subject to an 1.5% Gross Production Royalty payable to the property vendor, of which one-half (.5%) of a percent may be purchased from the Vendor at any time prior to Commencement of Commercial Production for a cash payment of $200,000.00.
The Company has begun Phase I of the Chucker exploration program which will consist of reconnaissance prospecting, geological mapping, surface trenching, sampling and relocating historical workings. This reconnaissance program will provide accurate modern data to assist in the planning of the phase II drill program. Phase I is estimated to last for three to four weeks, with phase II expected to begin following the compilation of the phase I results, later in 2019, pending drilling permits.
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
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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