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Additional Information
Market: TSX-V
Sector: General Mining
EPIC: MRO
Latest Price: 0.40  (-9.09% Descending)
52-week High: 0.90
52-week Low: 0.32
Market Cap: 28.01M
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Millrock Resources
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.

Full Millrock Resources profile here
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Millrock and Kinross kick off drilling program at Council Gold Project

24th Jun 2010, 8:21 pm
Millrock and Kinross kick off drilling program at Council Gold Project

Millrock Resources (TSX:V:MRO) has kicked off drilling at the Council Gold project in Alaska, a joint venture with Kinross Gold (NYSE:KGC, TSX:K). Kinross can earn a 55% interest in Millrock’s Council properties by expending US$3 million and paying US$0.26 million. 

The top tier gold producer can increase its stake to 75% by expending a further $3 million and by assuming obligations of two underlying agreements on the Council project's area of interest.


This year’s exploration program at the Council Gold Project will include approximately 2,500 meters of RC (reverse circulation) drilling targeting hard rock gold mineralization surrounding historical placer gold workings. The JV with Kinross covers a 900 square kilometre area east of Nome, Alaska where over 300,000 ounces of gold has been produced from placer gold.  Kinross and Millrock are hunting for the source of the placer gold.


"Our goal with Kinross on the Council project is to locate the bedrock source of this alluvial gold," said Gregory Beischer, President and CEO of Millrock. "We are targeting sediment-hosted vein deposits and there are strong indications of such deposits from historic data and from geological and geochemical surveys we conducted over the past two years."


Rather than embarking on development efforts on their own, Millrock has formed a number strategic partnerships with other companies to fund exploration and earn an interest in the claims. The “Project Generator” business strategy enables Millrock to diversify exploration risk while maintaining interest in multiple properties.

Development efforts with partners have also helped Millrock deploy its financial and technical resources more effectively.

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