Inter Rock Minerals Inc.: Nevada Mineral Properties Update and Private Placement Announcement
December 17 2007 - 4:33PM
Marketwired
TORONTO, ONTARIO recently announced that it has acquired five
claim groups in historic mining districts of northern Nevada.
Inter-Rock's wholly owned subsidiary, Secret Pass Gold, staked a
total of 123 claims and acquired a mineral lease for 17 claims.
Inter-Rock will carry out evaluation work designed to develop drill
targets on two of the properties. The other properties are
currently under evaluation for potential farm-in.
One of the two subject properties, Sentinel, is located in
Humbolt County. Australian Ores and Minerals discovered gold
mineralization at Sentinel Peak in the 1990's by follow up field
examination of a spectral anomaly. Their work comprised geological
mapping, a closed space soil geochemical program, analysis of rock
chip, trench, and road cut samples, and ground geophysical studies.
This work confirmed an anomalous gold zone over a thousand feet
wide by several thousand feet in length. Inter-Rock is planning a
series of low cost airtrack drill holes on this project to provide
detailed mapping and sampling data.
The second property, Stingaree Valley, is located in Churchill
County. Previous investigations have indicated that favourable
bedrock is not deeply covered. Inter-Rock intends on carrying out
geophysical and geochemical surveys to assist in drill target
definition.
In order to finance exploration of the Nevada properties,
Inter-Rock is planning a non-brokered private placement of up to
2,500,000 units at an offering price of $0.10 per unit to raise
proceeds of up to $250,000. Each unit will be comprised of one
common share and one common share purchase warrant exercisable for
a period of two years at $0.20 per share. Closing of the private
placement is expected to occur early in 2008, and is subject to
receipt of all required regulatory consents and approvals.
Inter-Rock also owns MIN-AD, Inc. MIN-AD owns and operates a
successful specialty dolomite business that supplies a mineral
supplement to the North American livestock feed industry and it
holds the claims for two zeolite deposits in northern Nevada.
Inter-Rock currently has 20,172,811 common shares issued and
outstanding.
No stock exchange or securities regulatory authority has
reviewed or accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Inter Rock Minerals Inc. Michael B. Crombie President
(416) 367-3003 (416) 367-3638 (FAX) Email: iro@on.aibn.com
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