Smash Minerals Corp.
TSX VENTURE : SSH

Smash Minerals Corp.

August 11, 2011 08:30 ET

Smash Minerals: Geophysics Survey Completed, Grab Samples Return up to 17.2 g/t Gold, Drilling to Commence Shortly

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Smash Minerals Corp. (the "Company" or "Smash") (TSX VENTURE:SSH) is undertaking a vigorous exploration program on its Whiskey Gold Property (the "Property"), located in the White Gold District of west-central Yukon Territory, Canada. The property occupies 4,177 claims covering an area of 846 square kilometres including the placer gold-rich Black Hills and Barker creeks, and is east of and contiguous with claims formally held by Underworld Resources Corp. and now Kinross Gold Corp.

Aeromagnetic / Radiometric Survey

A property-wide 10,616 line-kilometre magnetic and radiometric helicopter geophysical survey at 100 metre line spacing was completed at the end of July. Final magnetic products have been received from the contractor Precision Geosurveys. Preliminary radiometric products have been supplied, and final processing will be completed within the next month. Geological interpretation of this data by the project team has identified a number of regional-scale east-west and north-northwest trending structures. Several intersections of these structures coincide with multi-element geochemical anomalies defined by ridge and grid soil sampling and rock grab sampling. The geophysical data have also been used to refine lithologic contact locations and outline zones of hydrothermal alteration.

Sampling Program

Smash has continued to collect grid soil samples, rock grab samples, and trench samples. An additional 3,029 grid soil samples have been collected since last public reporting (see News Release dated July, 5, 2011), bringing the 2011 season total to 6,537 samples with 3,373 assays received to date. GroundTruth Exploration completed a ridge and spur and grid soil sampling program in early June totalling 4,406 samples with all assay results received. A total of 1,180 rock grab and chip samples have been collected with 856 assay results received. An aggressive trenching program has focused on gold and pathfinder element anomalies in both rock and soil. A total of 1,292 line metres of trenching have been completed with 810 channel samples taken with 451 assays returned to date. A stream sediment sampling program over the property, comprising 101 samples, was completed in early June. This program highlighted several new target areas with anomalous gold in silt values up to 48 ppb. Total sampling expected to be completed by the end of the 2011 summer work program includes 15,000 grid soil samples, 2,500 trench channel samples, 2,000 rock grab samples, and 150 stream sediment samples. Since work started on the Whiskey project in 2010, 18,470 soil samples have been collected to date. Smash is expecting to have collected a total of 26,000 soil samples by the end of the 2011 season. This extensive geochemical program supported by helicopter geophysics, prospecting and geological mapping has already identified targets of interest.

At the Bowmore zone, located in the northeast portion of the property, grid soil sampling has extended the strong gold in soil anomalies and more clearly delineated a mineralized structure. High gold values in soil samples from the area range from 25 to 319 ppb including highs of 114 and 319 ppb. The zone extends for 1,400 metres strike length along a north-northwest trend and is hosted in meta-gabbro and hornblende gneiss with cross cutting epithermal-style quartz veins adjacent to the lithologic contact with meta-sedimentary rocks. The recently acquired magnetic data have revealed that the main north-northwest structure is intersected by secondary east-west trending structures in this zone.

Five kilometres south of the Bowmore zone, along the same north-northwest structural trend, the CC zone, hosted in meta-gabbro and hornblende gneiss with epithermal-style quartz veins returned 271 ppb gold in soil. Follow-up rock sampling returned gold values from detection limit to 1.0, 1.6, 5.8 (previously reported), and 6.6 g/t gold. Trenching across these anomalies returned a high of 1.3 g/t over 2 metres. Further geological mapping to define the controls on this alteration is ongoing.

Recent work along the 6 kilometre north-northwest structural trend between the CC zone and the Bowmore zone has returned assays from detection limit up to 17.2 g/t gold in rock grab samples. Grid soil samples over interpreted structures cutting the lithologic contacts of the meta-gabbro and meta-sedimentary rocks have returned values up to 389 ppb gold. Further geologic mapping and soil sampling is continuing in this region.

Geological mapping has identified a major alteration zone in the north east sector of the property. It is defined by intersections of brittle fault zones and epithermal-style mineralization in felsic orthogneiss. This zone of alteration along structures has been outlined by geological mapping and pathfinder element soil geochemistry and airborne geophysics over an area of greater than 12km2. Within this zone, trenching over mineralized rock grab samples at the Bushmills prospect has uncovered a significant sercite - quartz - pyrite alteration zone at the intersection of an east-west fault and a north-northwest trending structural fabric within felsic orthogneiss. Anomalous gold values up to 1.3 g/t and a distinct pathfinder element anomaly (silver, lead, molybdenum, bismuth, and tellurium) define this zone. Trenching and detailed mapping is ongoing at Bushmills.

Three other target areas have recently returned significant gold values in rock grab samples related to fault controlled alteration in felsic orthogneiss. Values for these three samples were 2.4 g/t gold with 41 g/t silver; 1.1 g/t gold with 14 g/t silver; and 2.2 g/t gold with >10 g/t silver. Work is ongoing in these target areas.

Drill Program

On the basis of results obtained to date, several targets have been prioritised to be tested by core drilling. The first drilling will be undertaken on the Bowmore and Bushmills targets. A 3,000 metre diamond drill program by Kluane Drilling of Whitehorse is scheduled to begin shortly.

The exploration program is being directed by Adrian Fleming, CEO and Director of Smash and formerly CEO of Underworld Resources (now Kinross Gold). Overall technical guidance for the program including specialist expertise in geology, geochemistry, and geophysics is being provided by Revelation Geoscience. A significant proportion of Smash's technical team formerly worked for Underworld Resources and were responsible for the first discovery in the White Gold District, Yukon, being the Golden Saddle discovery in 2008.

A comprehensive QA/QC program is in place to monitor precision and accuracy of the assay results. All soil and rock samples are submitted with certified reference materials. Soil sample duplicates are routinely collected, and pulp duplicates are obtained for both soil and rock samples. Soil samples are analyzed by Acme Analytical Laboratories Ltd. using an aqua regia digestion and a 15 g charge for ridge and spur samples and a 30 g charge for grid samples. Rock samples are analyzed by SGS Minerals Services. Gold analyses are by fire assay using a 50 g charge and an atomic absorption spectrometry finish. Gold assays greater than 3 g/t are routinely re-assayed using a gravimetric finish to confirm initial atomic absorption results. Both Acme and SGS laboratories are ISO 9001 accredited.

Additional information and maps displaying Smash Minerals' results to date and the two identified drill targets can be viewed on the company website at www.smashminerals.com.

Phil Smerchanski, P.Geo., Principal Consultant - Geology, Revelation Geoscience Ltd., is a Qualified Person and has reviewed the technical content of this press release.

Additional information and maps displaying Smash Minerals' prospective targets can be viewed on the company website at www.smashminerals.com.

ON BEHALF OF THE BOARD

Adrian W. Fleming, CEO and Director

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Smash Minerals Corp. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Smash Minerals Corp. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Contact Information

  • Smash Minerals Corp.
    Dwane Brosseau
    Investor Relations
    604-662-3380 or Toll Free: 1-855-237-6274
    info@smashminerals.com