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 stakes 2,300 hectares near Kiska Metals and Tower Hill Mines in Alaska
Millrock Resources (TSX-V: MRO) ("Millrock”) has staked a block of 36 claims (2,331 hectares) west of the company’s Estelle property, west of Kiska Metals (TSX-V: KSK) Whistler copper-gold property, and north-west of International Tower Hill Mines (TSX: ITH) Terra gold property. The claims are all situated on the Kahiltna Terrane, Alaska, which also hosts Northern Dynasty’s world class copper-gold porphyry deposit.
Millrock Resources staked the claims after acquiring proprietary maps, data and other information from Gerald Booth, a geologist. Millrock has agreed to pay US$45,000 over four year and issue 40,000 shares in consideration.
The exploration junior will also pay $2 million if a discovery is put into commercial production.
Philip George, VP of Exploration at Millrock Resources said that observations already conducted on site indicated the presence of a porphyry system. “Glaciers are receding and the melting has been spurred by ash fall from Mount Redoubt volcano which erupted last spring. In some cases we are the first geologists to ever see the mineral occurrences that are emerging from beneath the ice. The mineralization and alteration observed indicates a porphyry system."
George was referring to the presence of porphyritic diorite and altered sedimentary rocks already observed on the property, a “very large” multi-element stream sediment anomaly measuring 177 square kilometers surrounding the Revelation property, and a 600 meter soil anomaly identified on a first pass reconnaissance program which returned values between 95 and 1,200 ppb gold.
