Gray Rock Announces Commencement of 2017 Exploration Program
VANCOUVER, British Columbia, June07, 2017(GLOBE NEWSWIRE) -- Gray Rock Resources Ltd. (TSX.V:GRK) ("Gray Rock" or the "Company") is pleased to announce that field crews have mobilized to its Surprise Lake project, 18 kilometers east of the town of Atlin in northwestern British Columbia. An aggressive exploration program is planned to determine the extent of the coarse gold that was found in quartz veins cutting graphitic and quartz-rich phyllitic country rock discovered in bedrock during last season's exploration. At the discovery site, on Gray Rock's Otter Creek property native gold is intergrown with quartz-albite veins and occurs as open space fillings. Previous exploration on Gray Rock's Otter Creek property has identified an anomalous geochemical area of 1.2 kilometers by 800 meters, along with channel cut, rock chip and grab samples of bedrock returned significant results that extends more than 500 meters across the assumed strike on the Otter Creek property, in both the quartz vein stockwork and the encasing graphitic phyllite.
This season's exploration program will follow the recommendations in the Company's recent NI 43-101 technical report on the Surprise Lake Project, filed at www.sedar.com under the Company's profile.
The Company plans to spend $200,000 on the first phase of a two-phase program.Phase one of the program will consist of the following five components:
- Existing geology, topography, geochemistry and geophysics data will be imported into universal databases for compilation maps. All data formats will be transposed to a uniform coordinate system WGS 84. Databases will be updated on an on-going basis as new data becomes available.
- Continuation of Grid sampling MMI will be merged with existing data to extend the coverage across the placer pit area and to the west of the Otter Creek valley. Coverage is anticipated to cover Otter Creek to Snake Creek. MMI is a geochemistry sampling technique that measure mobile metal ions that have migrated from depth and adhere to near surface soil grains.
- Induced Polarization survey using dipole-dipole configuration with 25 'a spacing' on 100 meter lines. Measurements will be taken to 'n=8' for a nominal depth of investigation of 200 meters. Data will be processed on-site to create pseudo-sections in real time and 3D chargeability and resistivity bodies postprocessed during the survey execution period.Interpretation of the data may recommend modification to survey parameters and survey area.
- Rock saw channel sampling of exposed bedrock in placer pit will be undertaken during non-active periods of the placer working.It is estimated that up to 200 m of channel sampling can be accomplished using one meter sample lengths.Sampling of bedrock at the base of the placer pit will also be bulk collected with a bulldozer rock ripper, excavator and ore truck. The bulk rock samples will be stockpiled cleaned, broken and selectively sampled.
- Two field geologists will map rock exposures, with focus on detailed mapping of exposed place pit floor and regional geological mapping using the geological genetic model proposed by Mitch Mihalynuk, Senior Geologist at BCGS. The objective of the mapping is to resolve the gold emplacement mechanism, alteration, structure and genetic relationship to the Surprise Lake Batholith.Co-interpretation of the geochemical soil sampling and IP geophysics with the geology is anticipated to target the favourable geology and extent of the mineralization at Otter Creek and if possible, the relationship between the anomalous values found at Idaho Peak and Surprise showings.
Qualified Person
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.
ON BEHALF OF THE BOARD
"David Wolfin"
David Wolfin
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 subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators.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.
GRAY ROCK RESOURCES LTD. Suite 900 - 570 Granville Street Vancouver, BC V6C3P1 Ph: (604) 682-3701 Fax: (604) 682-3600 www.grayrockresources.com ir@grayrockresources.com