VANCOUVER, British Columbia, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Gray Rock Resources Ltd. (TSX.V:GRK) (“Gray Rock” or the “Company”) is pleased to announce that a drill is now on site for the 2017 program on Gray Rock’s Hot Bath Project near Dease Lake in northwestern British Columbia. This season’s drill program will start within the next few days.
Gray Rock acquired its option on the Hot Bath property from DeCoors Mining in June 2017 (see the Company’s press release dated June 19, 2017 for further details). The property was originally acquired by DeCoors in 2014 based on results from an airborne magnetic geophysical survey, rock geochemistry and geological mapping completed as part of Geoscience BC’s Quest Northwest study. This study supports the interpretation of mid-Jurassic calc-alkaline intrusives that are known to be favourable host rocks for copper-gold mineralization.
Subsequent exploration by DeCoors in 2015 and 2016 included 760 MMI geochemical samples, 12 line kilometers of Induced Polarization and 3.5 line kilometers of magnetometer geophysical data. This data identified an extensive area, 800 meters by 1 kilometer of coincident high chargeability geophysical values and anomalous MMI copper, and other indicator minerals in soils. During DeCoors’ exploration program, an oxidized quartz-chalcopyrite vein near the centre of the MMI/IP anomaly was exposed and sampled. Rock samples from this vein returned values over 3% copper and 3 grams per tonne gold. These rock samples were selective and may not be indicative of the mineralization of the property (please refer to the Company’s press release dated June 19, 2017 for further details).
From the previous work on the project potential copper-gold porphyry targets have been identified. The First target has been identified as a large (300m x 300m) subcropping body interpreted from the chargeability values from the induced polarization survey. It lies under copper and gold anomalies detected in the MMI geochemical survey. The drill holes were primarily selected from Induced Polarization chargeability anomalies with supporting evidence from MMI geochemical sampling. The program calls for 1,000 meters of drilling in up to 5 holes. Permits are in place, drill platforms and field camp has been constructed and the drill and field crews are mobilizing. Drilling is anticipated to begin this week.
Mr. John Buckle, P.Geo., P.Geoph., a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure in this news release. Mr. Buckle is a director of the Company, and is not an independent Qualified Person.
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. This release contains statements that are forward-looking statements and are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
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