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Base Metals Energy Junior Mining MillRock Resources Precious Metals Project Generators

Millrock Updates 64North Gold Project Exploration, Goodpaster Mining District, Alaska

Millrock Resources, Proven and Probable
VANCOUVER, BRITISH COLUMBIA, July 5, 2022 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that earn-in partner Resolution Minerals Limited (ASX: RML) (“Resolution”) has commenced drilling at the Tourmaline Ridge prospect on the West Pogo block of the 64North Gold Project. A program consisting of five holes totaling 2,200 meters is to be conducted over the coming six weeks. 

Millrock President & CEO Gregory Beischer commented: “There is an abundance of geologic evidence pointing to a possible gold deposit at Tourmaline Ridge. We wish Resolution the best of luck as they move the project forward and we are hopeful for a new gold discovery.” 
Figure 1. A Fall 2021 photograph showing the Tourmaline Ridge prospect area in the foreground with an excavator digging trenches through shallow overburden to expose bedrock. Northern Star’s Pogo mine and the Goodpaster deposit is visible in the distance five to six kilometers to the east. The current drilling program focuses on the Tourmaline Ridge prospect in the foreground.
Earned interest: Resolution has earned a 42% interest in the project by making cash payments (US$150,000), share payments (30,000,000 shares), and expending at least US$7.0 million on exploration (US$7.87 million spent as at January 31, 2022). Additionally, Resolution has elected to continue sole-funding exploration to earn a 51% interest by making further expenditures in 2022 and making further share and cash payments to Millrock. Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. 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 taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to perform further exploration and drilling on the 64North project. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
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Millrock Announces Loan Agreement

VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that it has entered into a Loan Agreement with Redplug Capital Corporation. The loan is in the amount of $500,000 and will be used for general working capital. Millrock intends to repay the loan within the coming year by 1) liquidation of shares that it holds in other companies, 2) sale of royalty interests, and/or 3) from proceeds that may be realized on sale or purchase agreements concerning Millrock mineral exploration projects. The term of the loan is one year. Interest for the first six months of the loan is 6.0% per annum and thereafter at 12.0% per annum. Additionally, Millrock will pay the Redplug Capital Corporation 2,000,000 bonus shares of the Company upon acceptance of the TSX Venture Exchange.

Millrock President & CEO, Gregory Beischer, commented: “Millrock has found itself in a tight financial position at a time when market conditions limit our ability to raise further operating funds. In any event, an equity financing at the current share price would be highly dilutive to existing shareholders. At the same time, Millrock has many catalysts that have potential to drive the Company’s share price higher. More than 18,000 metres of drilling has been planned and budgeted at several projects in which Millrock has an interest. All the funds for these drilling programs come from partner companies. Additionally, Millrock is closing in on option agreements on other projects that could bring more cash into the company treasury. Shareholders that have invested in Millrock over the past few years have looked forward to the big year of drilling underway in 2022. Millrock has determined that it is best not to incur excessive dilution by equity financing at this particular juncture. The less dilutive loan transaction will allow operations to continue in the short term. Potential asset sales will cover longer term needs while results of ongoing drilling programs unfold. We are hopeful that results of the drilling programs will make an equity financing under more favourable and less dilutive terms later in 2022 possible. We think all the drilling programs have a good chance at making gold discoveries.”

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. 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 taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention of partner companies to complete all the planned drilling they have indicated, the sale of Millrock assets, that Millrock has many catalysts that have potential to drive the Company’s share price higher, that Millrock is closing in on option agreements on other projects that could bring more cash into the company treasury, that potential asset sales will cover longer term needs, that all the drilling programs have a good chance at making gold discoveries, and the possibility of share price increase upon receipt of future drilling results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Millrock’s management’s discussion and analysis for the three-month period ended March 31, 2022, which is available under Millrock’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Millrock assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Millrock updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

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Millrock Resources Updates on 64 North Gold Project Exploration, Goodpaster Mining District, Alaska

Millrock Resources Inc.
Millrock Resources Inc.

Figure 1.

A Fall 2021 photograph showing the Tourmaline Ridge prospect area in the foreground with an excavator digging trenches through shallow overburden to expose bedrock. Northern Star’s Pogo mine and the Goodpaster deposit is visible in the distance five to six kilometers to the east.
A Fall 2021 photograph showing the Tourmaline Ridge prospect area in the foreground with an excavator digging trenches through shallow overburden to expose bedrock. Northern Star’s Pogo mine and the Goodpaster deposit is visible in the distance five to six kilometers to the east.

VANCOUVER, British Columbia, May 11, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports on advancements at the 64North gold exploration project, including an imminent drilling program. The project is the subject of an earn-in agreement whereby Resolution Minerals Limited (ASX: RML) (“Resolution”) is earning a joint venture interest from Millrock.

Drilling Program: The Resolution–Millrock technical team has developed a strong drill target area at the Tourmaline Ridge prospect, located on the West Pogo block. The target area was developed through analysis of all historic data, in addition to work that has been funded by Resolution over the past thirty months. Resolution plans to execute a drilling program of approximately 2,200 meters in five boreholes that will commence in late June 2022.

Figure 1. A Fall 2021 photograph showing the Tourmaline Ridge prospect area in the foreground with an excavator digging trenches through shallow overburden to expose bedrock. Northern Star’s Pogo mine and the Goodpaster deposit is visible in the distance five to six kilometers to the east.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f90d17bf-5651-489c-905c-27163607e3d5https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Gold_mining%253BThe_Glass_Passenger%253BBritish_Columbia%253BTourmaline%253BExploration%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%2522ba632f00-730c-3234-ae82-c09cc166c809%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Earned Interest: Resolution has earned a 42% interest in the project by making cash payments (US$150,000), share payments (30,000,000 shares), and expending at least US$7.0 million on exploration (US$7.87 million spent as at January 31, 2022). Additionally, Resolution has elected to continue sole-funding exploration to earn a 51% interest by making further expenditures in 2022 and making further share and cash payments to Millrock.

Millrock President & CEO Gregory Beischer commented: “There is an abundance of geologic evidence pointing to a possible gold deposit at Tourmaline Ridge. We wish Resolution the best of luck as they move the project forward, and we are hopeful for a new gold discovery.”

A large soil geochemical anomaly measuring 1,800 by 750 meters occurs on the Tourmaline Ridge prospect. Recently Resolution reported that it had received rock sample assay results from trenches excavated at Tourmaline Ridge in fall of 2021. Numerous narrow, gold-bearing veins were detected. These steep-dipping veins are interpreted to be “antithetic veins”, which commonly occur in the hanging wall above gold ore bodies at the nearby Pogo mine. Prior historical drilling intersected these veins along with characteristic rock alteration and pathfinder minerals. From geophysical surveys, a moderately northwest dipping structure is interpreted to lie beneath the soil anomaly and historic drill holes. Resolution and Millrock interpret this structure to be the “Pogo Trend”, which appears to be traced from the Goodpaster deposit on the adjacent Pogo Mine property operated by Northern Star Mines Ltd. (“Northern Star”).

Northern Star recently announced a maiden inferred resource estimate of 1.1 million ounces of gold in 3.2 million tonnes of rock, averaging 10.3 grams per ton gold for the Goodpaster deposit.

As of March 31, Pogo is reported by Northern Star to host 6.59 million metric tonnes of proven and probable reserves, averaging 8.5 grams per metric tonne (1.8 million ounces) gold. (Northern Star ANNUAL MINERAL RESOURCE AND ORE RESERVE STATEMENT, May 5, 2022). More than 4 million ounces of gold has been mined at Pogo.

Note: Millrock has not independently verified the information reported by Northern Star. Also, Millrock cannot assure that the structures that host gold ore bodies at Pogo continue onto ground controlled by Millrock and that gold deposits of similar magnitude and concentration will be discovered.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. 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 taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to perform further exploration on the 64North project. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

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Base Metals Energy Junior Mining MillRock Resources Precious Metals Project Generators Rhodium Investing

Millrock Reports Drilling Has Commenced On The Treasure Creek Gold Exploration Project, Fairbanks, Alaska

VANCOUVER, BRITISH COLUMBIA, May 3, 2022 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that Felix Gold (ASX: FXG, “Felix Gold” or “Felix”) has commenced drilling on the Treasure Creek gold project, which lies just north of the City of Fairbanks.

Felix indicates that it plans to drill 7,000 meters with a small reverse circulation drill rig. Millrock has assigned its Treasure Creek mineral rights to Felix Gold in return for cash, shares, and production royalties featuring advanced minimum royalty streams. Millrock owns 9,957,157  Felix Gold shares that today have a market value of approximately AUD$1,643,000 (CDN$1,495,000).

Millrock President & CEO Gregory Beischer commented: “The targets to be drilled by Felix Gold have a strong chance of successfully identifying a gold deposit. A new discovery here would propel the value of Millrock’s shareholding in Felix Gold and in return increase the value of Millrock shares. The project is certainly well-situated, about 20 kilometers north and west of Kinross’ Fort Knox gold mine, and 10 kilometers west of Freegold’s new discovery at Golden Summit. Alluvial gold deposits in gravels of Treasure Creek point to a bedrock source on the Felix Gold claims where large, strong soil geochemical anomalies are known from historical work and a major soil sampling program done in 2021. We will look forward to assay results from the current drilling program with great anticipation. Felix Gold has built an excellent exploration team and is well-capitalized. The team has a great chance of making discoveries and revealing the substantial potential for more major gold deposit discoveries in the Fairbanks gold mining camp. In my view, the potential in Fairbanks has been generally under-recognized by the industry. This has allowed Felix, through Millrock, to consolidate a tremendous land position. As a result of the agreement with Felix, Millrock is entitled to production royalties at Treasure Creek and throughout the Fairbanks district.”

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. 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 taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO 

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to perform further exploration on the Treasure Creek project. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. 

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Base Metals Energy Junior Mining MillRock Resources Precious Metals Project Generators

Millrock Announces the Nikolai Nickel–Copper–Chromium–Cobalt–Platinum Group Element Project, Delta Mining District, Alaska

Millrock Resources Inc.
Millrock Resources Inc.

Figure 1.

Overview and Claims – Nikolai Project
Overview and Claims – Nikolai Project

Key Highlights:

  • Eureka Zone, where disseminated, magmatic sulfide minerals contain potentially economically recoverable nickel – copper – chromium – cobalt – platinum group elements over broad core lengths reported from historical drilling. The mineralization can be intermittently traced over a fifteen-kilometer-long strike length, and the historical intersections are up to 319.7 meters wide. If continuity can be proven, a very large tonnage deposit with high contained metal could result.
  • Canwell Zone, where very high grades of nickel, copper, and platinum group elements, including the rarer metals osmium, iridium, ruthenium, and rhodium are known from historical surface rock sampling and drilling.

VANCOUVER, British Columbia, Feb. 14, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that it has assembled (by staking and an option agreement) an extensive land package in the Delta River Mining District in Alaska. The Nikolai Project (previously known by some as the MAN project) hosts nickel (Ni) – copper (Cu) – chromium (Cr) – cobalt (Co) – platinum group element (PGE) prospects. The claims show potential for delineation and development of a large tonnage deposit rich in Ni and other critical and strategic metals.

Millrock President and CEO Gregory Beischer commented: “Millrock is very pleased to have generated this nickel-dominant project which also has a variety of accompanying critical and strategic metals. Other companies such as Canada Nickel (current share price ~$2.33) and Group Ten Metals (current share price ~$0.36) have had strong market success by working on the development of geologically similar metal accumulations. Millrock aims to have similar success with the Nikolai project.”

One of the claim blocks covers the highly prospective and underexplored Eureka zone. At this location, a zone of disseminated Ni-Cu-Cr-Co-PGE mineralization was initially discovered by a subsidiary of Inco, and further expanded by Pure Nickel Inc. (now Galleon Gold Corp.) as reported in their press releases issued between 2007 and 2014. The claims had become open for staking and Millrock re-staked the land position.

Additionally, Millrock has entered into an option agreement on the Canwell claims where very high grades of nickel, copper and platinum group elements, including the rare platinum group metals osmium, iridium, ruthenium, and rhodium are known from historical surface rock sampling and drilling.

In total, Millrock’s Nikolai Project now consists of 146 State of Alaska Mining Claims covering 9,454 hectares in a highly prospective, underexplored ultramafic Ni-Cu-PGE mineralized belt (Figure 1). The claims are proximal to paved highways, and a network of gravel roads and trails afford ready access to the Canwell claim block. The City of Fairbanks lies approximately 200 kilometers to the northwest. The city of Delta Junction lies 130 km to the north of the project and has many services and amenities that support the Alaska mining community. The main Alaska power line and railway lie 150 kilometers to the west along the Denali Highway.

Figure 1. Overview and Claims – Nikolai Project is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a1a3293a-18dd-450f-b2e8-d30bd1433572

Several deposit types are possible at the Nikolai project, including:

  1. Disseminated Ni-Cu-Co-Cr-PGE mineralization in serpentinized ultramafic rocks (analogy = Crawford deposit, Canada)
  2. Massive sulfide Ni-Cu-PGE mineralization (analogy = Norilsk Mine, Russia)
  3. Remobilized high-grade Ni-Cu-PGE mineralization (typical in large Ni camps)
  4. Volcanogenic Massive Sulfide (VMS – Besshi style) Cu (Zn-Pb) Au, Ag (analogy = Windy Craggy deposit, Canada)

Geologically, the project is located within the underexplored Wrangellia Terrane of Central Alaska. A characteristic component of this terrane is the Nikolai Greenstone, an extensive sequence of Late Triassic flood basalt rocks. Mafic and ultramafic intrusions, the source for the Nikolai Greenstone, along with Permian and Cretaceous felsic plutons, intruded Permian volcanic and volcaniclastic rocks. Wrangellia holds high potential for the discovery of economic magmatic sulfide deposits containing nickel, copper, cobalt, platinum, palladium, iridium, rhodium, osmium, ruthenium, gold, silver, lead, and zinc. Past producing mines and known deposits within the Wrangellia include Kennecott Copper Mines, Windy Craggy, Wellgreen-Nickel Shaw, and White River.

At the Eureka claim block, 104 State of Alaska mining claims were staked and are 100% owned by Millrock. Previously discovered Ni-Cu-PGE prospects form a northwest trend of soil and rock anomalies that contain elevated nickel, copper, platinum, palladium, and gold. After an initial discovery by Inco Ltd. in 1997, drilling by Pure Nickel Inc. and ITOCHU Corporation between 2008 and 2013 resulted in the discovery of a mineralized corridor called the Eureka Zone. More than fifteen kilometers in length, the disseminated Ni-Cu-PGE mineralization is associated with serpentinized mafic and ultramafic rocks (Table 1, Pure Nickel Inc., News Release, October 29th, 2013).

Based on these historical drill hole results, Millrock has identified a zone of mineralization (1,700m x 600m x 300m) that contains potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Additionally, Millrock postulates that higher grade mineralization may occur in embayment features at the base of the Eureka Zone, where heavy metals may accumulate during fractionation and crystallization of the ultramafic intrusion. Further drilling is warranted to confirm this hypothesis, along with in-fill drilling on the identified zone of mineralization, with the goal of defining a NI 43-101/JORC compliant resource. The company cautions they have not yet done sufficient exploration to test these hypotheses and there is no certainty that exploration will be successful in confirming these hypotheses.

Table 1. Historical Eureka Zone drillhole intersections reported by Pure Nickel
(Press Release, October 29th, 2013)

Drill HoleFrom (m)To (m)Estimated
True Width
(m)
2
Ni (%)Cu (%)Co (%)Pt (ppb)Pd (ppb)Au (ppb)Ag (g/t)
MAN05-01A1,335.0136.899.90.250.080.017794923N/A
PNI-07-0021100.6388.0246.40.210.020.0165437110.20
FL-0041,3108.8242.6114.70.200.050.0155235240.00
PNI-10-028201.0488.4226.40.210.070.0163882100.41
PNI-10-029172.1399.0211.80.210.040.015347760.36
PNI-10-030377.7729.5284.60.200.060.0163974110.44
PNI-10-0331210.2496.0231.20.210.050.0173662200.37
PNI-10-0351192.4471.0224.60.230.060.017398180.40
PNI-12-0631146.6241.794.80.240.150.01897156311.11
PNI-07-0011397.5659.1211.60.240.080.01850114100.56
PNI-10-0361163.2559.9319.70.250.090.01854121130.59
FL-0061,3185.0382.8160.00.240.090.0195711514N/A
FL-0031,360.2393.2269.40.210.080.0175411712N/A
PNI-09-201,3192.5394.0200.40.240.020.014N/AN/A70.11
PNI-13-0691160.3373.7205.20.240.090.01761122190.72
PNI-13-07199.4247.0146.80.170.080.0154676140.57
And328.0342.714.60.190.160.01664127211.19
PNI-13-072217.0432.5162.60.200.080.01749104130.45
PNI-13-0731245.5376.7130.50.220.070.01652118160.36
PNI-13-0741198.0453.2253.90.200.060.0163891110.34
PNI-13-075173.0116.743.40.230.060.01646105110.34
And254.0377.0122.40.170.050.0153380110.18
1 Incomplete intersection of the Eureka Zone
2 True widths estimated from hole angle and average dip of mineralization (46˚)
3 Not Continuously Sampled
N/A No Assays Reported
m = meters, ppb = parts per billion, g/t = grams per tonne

Note: The Millrock Qualified Person (QP) does not have access to all the drill logs and assay results and has no way to verify the results that were published by Pure Nickel. The Millrock QP was responsible for the team that drilled holes beginning with the “FL” prefix in his prior role as Exploration Manager for Inco Ltd. subsidiary company American Copper & Nickel Company. The Millrock QP has access to the drill logs and original assay certificates for these holes.

At the Canwell claim block, Millrock has entered into an agreement under which it has been granted the option to purchase the Canwell Ni-Cu-PGE project from property owner David Johnson. The property covers 42 State of Alaska mining claims (2,720 hectares). Millrock may purchase a 100% interest in the property by performing exploration work totaling US$5.0 million in value, making cash payments of US$500,000 and incremental payments of Millrock shares (5.0 million in total), and granting a buyable royalty. Millrock is making an initial share issuance of 1,000,000 Millrock shares and US$25,000 as the signing payment. The agreement with the owner is subject to approval by the TSX Venture Exchange.

Ni-Cu-PGE mineralization is associated with mafic and ultramafic dikes/sills at Canwell and are hypothesized as deep-rooted feeders to the same ultramafic sills located at Eureka. Felsic intrusions on the Canwell property have the potential to upgrade the Ni-Cu-PGE mineralization through remobilization processes. Ni-Cu-PGE prospects located by previous explorers include Emerick, Forbes, Odie, and Canwell Ridge. Millrock due diligence samples collected in 2020 and 2021 from the Forbes prospect returned results ranging from 0.36% to 4.05% copper, 0.14% to 2.87% nickel, 44 to 716.4 ppm cobalt, 0.051 to 0.114 ppm gold, 3.774 to 7.745 ppm silver, 0.471 to 0.848 ppm palladium, 0.179 to 0.373 ppm platinum, 0.023 to 0.074 ppm iridium, 0.010 to 0.060 ppm osmium, 0.017 to 0.054 ppm rhodium and below detection to 0.110 ppm ruthenium (Table 2).

Table 2. 2020-2021 Due diligence sample assay results from the Forbes prospect

SampleProspectNi (%)Cu (%)Co (ppm)Pt (ppb)Pd (ppb)Au (ppb)Ag (ppb)Ir (ppb)Os (ppb)Rh (ppb)Ru (ppb)
701325Forbes2.874.05716.437384851.87745231017<50
701326Forbes0.140.3644179471114.53774746054110

The potential for Besshi-type Volcanic Massive Sulfides (VMS) also occurs on the property in the Permian volcanic and volcaniclastic rocks adjacent to the mafic and ultramafic sequence. VMS prospects located by previous explorers include Silver, Red Knob, Plateau, Canyon, Verona Pick, and Woody. Millrock due diligence samples collected in 2020 and 2021 on the Plateau and Woody prospects returned results ranging from 0.01 to 10.74% copper, 1.51 to 5450.48 ppm lead, 20.1 to 3989.8 ppm zinc, below detection to 11.856 ppm gold, 0.116 to 189 ppm silver, and below detection to 0.177 ppm palladium (Table 3).

Table 3. 2020-2021 Due diligence sample assay results from the Plateau and Woody prospects

SampleProspectCu (%)Pb (ppm)Zn (ppm)Au (ppb)Ag (ppb)Pd (ppb)
701333Plateau0.011376.18675.010.591924
701334Plateau10.7437.0295.3561.382933<10
701335Plateau4.1222.16190.914.716978<10
701320Woody0.0153.23146.02.7283<10
701321Woody5.375450.483989.811855.853916177
701322Woody3.56596.68971.6332.418900032
701323Woody4.852456.93758.62317.33741846
701410Woody0.014.3065.116.7241<10
967701Woody0.012.6420.11.3116<10
967702Woody0.081.5144.4<0.217814
967703Woody0.026.7083.82.7337<10

The assay results reported in Table 2 and 3 were collected by the Millrock QP and analyzed in 2021. The samples were analyzed at the Bureau Veritas Laboratory in Vancouver and Ontario, Canada using methods AQ252, MA404, and NA-PGE-S. The assay results confirm similar grades to those reported by historical workers.

Millrock has reviewed existing data and built a comprehensive exploration plan. The Company will seek joint venture partners to fund exploration and thereby earn an interest in the project.

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include AQ252-EXT (Aqua Regia – ICP-ES/MS) for all samples, MA404 (Aqua Regia and Multi-Acid – AAS) for overlimit samples (>10,000 ppm Cu, >10,000 ppm Ni & >100,000 ppb Ag), and NA-PGE-S for rare PGE’s. For every 20 rock samples, a standard sample (Certified Reference Materials) of known copper concentration was analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. 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 taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
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Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to form joint ventures and to perform further exploration. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

(17 Min. Interview) MILLROCK RESOURCES / Resolution Minerals Earns 30% in 64N Project + New Partner Drill Program Felix Gold


Transcript

PARTNERING THE MOST HIGH RISK, HIGH-COST STAGES OF EXPLORATION

Millrock (TSX.V: MRO.V) is a project generator company focused on the discovery and development of high-value metallic mineral deposits in two jurisdictions with outstanding potential: the State of Alaska and Mexico – primarily the state of Sonora. The company’s main emphasis has been on gold and copper, focusing on porphyry and high-grade vein style deposits.

Our objective is to discover a world-class ore body, building further shareholder value through the exploration and development of existing projects and exploration joint ventures.

Millrock Resouces (TSX.V: MRO | OTCQB: MLRKF)
Website: www.millrockresources.com
Fact Sheet: https://bit.ly/3cnxJAc
Corporate Presentation: https://bit.ly/36qVG5M

INVESTOR INQUIRIES
Melanee Henderson
Investor Relations
Direct: 604-638-3164
Toll-Free: 877-217-8978
Email: mhenderson@millrockresources.com

Categories
Base Metals Energy Junior Mining Project Generators

Millrock Forms Strategic Alliance with Felix Gold and Vends Three Projects, Fairbanks Gold District, Alaska


Press Release


Corporate Presentation

Millrock President & CEO Gregory Beischer commented, “We are very pleased with this development. Millrock envisions a systematic, concerted, and sustained exploration effort in the Fairbanks Gold District with numerous drilling programs in the years to come. The Fairbanks Gold District offers promising chances for new gold deposit discovery success and rewards for our shareholders. The new company, Felix Gold, of which Millrock will become a significant shareholder, is named after Felix Pedroni, the prospector credited with the initial discovery of gold in Fairbanks in 1902. We look forward to our collaboration with Felix Gold and making new gold discoveries in this resurging, under-explored gold camp.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson
, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Categories
Junior Mining Project Generators

Millrock Reports Geophysical Survey Results On West Pogo Block, Goodpaster Gold District Project, Alaska

Millrock Resources

 (TSX.V: MRO | OTCQX: MLRKF)

Millrock Resources has just released some very encouraging news from their recent Geophysical Survey from the West Pogo Block on the Goodpaster Gold District Project! We plan to interview CEO Gregory Beischer regarding the details of this press release this week! For more information on Millrock Resources: 

Investor Relations | Melanee Henderson
Direct: 604-638-3164
Toll Free: 877-217-8978
Email: mhenderson@millrockresources.com


Press Release