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Smooth Rock Signs Exploration Agreement with Walker River on the Garfield Flats Project
Vancouver, British Columbia--(Newsfile Corp. - June 7, 2019) - Smooth Rock Ventures Corp. ( T...
About this update from Smooth Rock Ventures Corp
[{"type":"text","content":"Smooth Rock Signs Exploration Agreement with Walker River on the Garfield Flats ProjectVancouver, British Columbia--(Newsfile Corp. - June 7, 2019) - Smooth Rock Ventures Corp. (TSXV: SOCK) (\"Smooth Rock\" or the \"Company\") is pleased to announce it has signed a definitive Exploration Agreement with Option to form a Joint Venture on the Garfield Flats Property with Walker River Resources Corp. (TSXV: WRR)Smooth Rock can earn an undivided fifty percent (50%) interest in the Garfield Flats Property by funding $600,000.00 in Exploration Expenditures as follows: (a) for an initial 25% interest of the Garfield Flats project $300,000 in exploration expenditures within a one-year period and (b) for an additional 25% interest $300,000 in exploration expenditures on or before the second anniversary and (c) upon earning an 50% interest a 50/50 joint venture will be formed between Walker River and Smooth Rock. Smooth Rock may accelerate any of the above earn-in periods at its option. Walker shall be the operator of the exploration during the earn-in period. The Garfield Property is subject to an underlying 2% Gross Production Royalty. The Company has also filed an independent technical report on the Garfield Flats Project (the \"GF Technical Report\") authored by Robert D. Thomas Jr. CPG, an independent Qualified Person and prepared in accordance with NI 43-101, Standards of Disclosure for Mineral Projects. The GF Technical Report is available under the Company's profile on SEDAR at www.sedar.com.The Garfield Flats Project is within the Walker Lane shear zone, a 60-mile-wide structural corridor extending in a southeast direction from Reno, Nevada, located 18 miles southeast of Hawthorne, NV along U.S. Highway 95. The project has excellent year-round access and infrastructure within Mineral County, one of the most pro-mining counties in the pro-mining states and highest-grade gold districts of Nevada.The Garfield Flats Project is located adjacent to New Range Gold Corp's Pamlico project. In close proximity to several past producing mines including the Bodie, Aurora, Borealis, Pamlico, Evening Star, Mabel, Mindoro and Camp Douglas Mines. Held by private interests for most of its history, Garfield Flats remains very underexplored with exceptional potential for new discoveries on several exploration targets with multiple zones.The scientifi...