www.millrockresources.com
Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class gold and copper deposits in mineral rich Alaska and Arizona, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk and attendant shareholder dilution taken on by most exploration companies. Millrock currently has eleven active exploration projects, eight gold-copper properties in Alaska, and three porphyry copperprospects in Arizona. With funding primarily coming from its joint venture partners, Millrock plans to carry out exploration programs with a total value of more than US$14 million for 2011. Business partners of Millrock include some of the leading names in the mining industry: Kinross, Teck, Vale, Inmet and Altius, as well as junior explorers Ryan Gold, Brixton Metals and Crescent Resources.
Millrock Resources intersects intrusion-related gold system at Estelle
Millrock Resources (CVE:MRO) announced Wednesday results from drilling at the Oxide Ridge prospect of the Estelle gold property, located northwest of Anchorage, Alaska, intersecting gold mineralization over a significant interval.
Hole SE-001 was drilled to a depth of 457.8 metres to test an induced polarization chargeability anomaly, overlain by a coincident gold-arsenic soil geochemical anomaly, the company said.
Millrock had previously discovered gold mineralization at two locations, each about 1.5 kilometres away from the drill hole collar.
From 10.18 metres to 460.86 metres (450.68 metres) the hole returned a weighted average of 0.38 grams per tonne(g/t) of gold (171 gram-meters). Most of the mineralization was found from 31.79 metres to 397.06 metres and returned 0.43 g/t gold over 365.27 (157 gram-meters).
This hole, SE11-001, intercepted 139.84 metres at 0.56 g/t gold, with other notable intercepts including 1.13 g/t gold over 13.05 metres, and 3.08 g/t gold over 0.76 metres.
"We have intersected intrusion-related gold mineralization over a significant interval that includes some higher grade intercepts. The challenge now is to find the center of the system that has the grade needed for an economic deposit," said the company's chief exploration officer, Philip St. George.
The work at the property is being managed by Millrock on behalf of a subsidiary of Teck Resources (TSE:TCK.B), which has the option to earn up to a 65 percent interest in the project from Millrock by funding exploration expenditures and making cash payments.
Three further holes were drilled on the project to test the Shoeshine, Shadow and Discovery prospects, which are located approximately 18 kilometres to the south of Oxide Ridge.
The company said that along with this drilling, further exploration yielded new gold prospects that could be the subject of drilling in 2012.
The Estelle property is adjacent to Kiska Metals' Whistler copper-gold deposit. Geologic features, and extensive surface geochemical anomalies at Estelle, indicate the potential for large, bulk-minable, deposits. Six main zones of large-scale anomalous gold and pathfinder element geochemistry have been identified over the past two years at Shoeshine, Shadow, Train, Oxide Ridge, RPM and Stoney.
