Mining Explorers 2011: Smash Minerals Corp.

 

Last updated 11/6/2011 at Noon



SSH: TSX-V

President and CEO: Adrian Fleming

CFO: Darryl Cardey

Director: Steve Swaffield

Director: Greg Fekete

Smash Minerals Corp. is a new junior exploration company undertaking gold exploration in Yukon Territory.

Smash is headed by Adrian Fleming, formerly of Underworld Resources Inc., which is credited with discovering the 1-million-ounce-plus Golden Saddle gold deposit at its White Gold Project in the Yukon in 2008 and sparking the first modern gold rush to the Klondike.

Drilling in 2009 by Underworld significantly expanded Golden Saddle and in early 2010 the junior was acquired by Kinross Gold Corp. In March, Smash raised nearly C$ 6.4 million in an initial public offering to help fund exploration of its 4,177-claim, early-stage Whiskey Project in what is now called the White Gold District.


The company optioned the Whiskey claims, which cover an area of 846 square kilometers (327 square miles) covering the placer gold-rich Black Hills and Barker creeks in September 2010 from Yukon prospector Shawn Ryan and is pursuing an aggressive, two-phase exploration campaign in 2011 to follow up on a geochemistry program and geological data analysis last year.

Phase 1 of 2011 exploration includes helicopter geophysics (magnetics and radiometrics), prospecting, geological mapping, additional ridge and spur soil sampling, grid soil sampling and stream sediment sampling at a total cost of about C$2.9 million.

The phase 2 program is contingent upon the results received from phase 1 exploration, but is expected to cost C$2.54 million and include additional grid soil sampling, geological mapping, trenching and up to 3,000 meters of core drilling.


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In late August, Smash reported the start of diamond drilling to test gold targets it has identified with geophysics and grab samples at Whiskey.

The drilling is expected to continue into late September, testing five targets that may be reprioritized as additional assay results are received.

Cash and short-term deposits: C$$166,913 (at April 30, 2011)

Working capital: C$5.09 million (at April 30, 2011; raised C$ 7.75 million in a private placement in August 2011)

Market capitalization: C$17.50 million (Sept. 9, 2011)

Suite 800 - 789 West Pender St.

Vancouver, B.C., Canada V6C 1H2

Ph: 604 638-8063 • Fax: 604 648-8105

http://www.smashminerals.com

 

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