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Market: TSX-V
Sector: General Mining
Epic: MRO
News: Latest news
Web Site: Millrock Resources
Other Articles: 22-07-201020-07-201024-06-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Millrock Resources

Millrock Resources

Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class gold and copper deposits in the mineral rich Alaska and Arizona, Millrock prospects and packages large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the financial risk and attendant shareholder dilution. As operator, Millrock currently has eleven active exploration projects, eight gold-copper properties in Alaska, and three porphyry copper prospects in Arizona. Its joint venture partners, underwriting some $3.5 million of exploration in 2010, include some of the leading names in the mining industry: Kinross and Teck in Alaska, Vale and Inmet in Arizona.

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Thursday, June 24, 2010

Millrock and Kinross kick off drilling program at Council Gold Project

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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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