TSX.V: MRO
President and CEO: Gregory Beischer
Chief Exploration Officer: Philip St. George
Chief Financial Officer: Keith Granberry
As a project generator, Millrock Resources Inc. is leveraging the notoriously cyclical mining markets to its advantage by acquiring promising mineral properties at rock bottom prices when the bears reign and ready them for robust exploration when the bulls run. “This is the exact time Millrock has been waiting for all along,” Millrock President and CEO Gregory Beischer told Mining News. “We have stuck rigorously to our model, and here we are now … taking advantage of the tremendous opportunities that are in front of us.” Among these opportunities was the ability to orchestrate a series of deals to acquire three properties – Todd Creek, Poly and Oweegee Dome – that blanket roughly 217 square miles (562 square kilometers) of the Golden Triangle in northern British Columbia. Todd Creek, which lies immediately south of Pretium Resources Inc.’s Brucejack project, shows the potential for precious metals-rich volcanogenic massive sulfide deposits similar to the historic Eskay Creek Mine located 37 miles (60 kilometers) to the northwest. Poly, located about six miles (10 kilometers) southeast of Todd Creek, is prospective for both volcanogenic massive sulfide and epithermal gold deposits. Oweegee Dome, which lies immediately northeast of the Brucejack property, is prospective for the gold-vein, porphyry copper-gold and polymetallic VMS deposits for which the Golden Triangle is renowned. In June, Millrock added to its Golden Triangle land position with the acquisition of Willoughby, a high-grade gold-silver property located five miles (eight) kilometers south of Poly. Beischer said Millrock is “optimistic about the likelihood of finding partners to fund exploration on these projects.” In preparation for such a partner, the project-generating team has compiled, digitized, organized and carried out quality control on the tomes of data available for these properties.
Millrock’s Alaska portfolio includes eight properties prospective for gold and copper. Late in 2015, a subsidiary of Australia-based Vista Minerals Pty Ltd., entered into a joint venture agreement on Millrock’s Stellar gold-copper property. Located in Southcentral Alaska, the Stellar claims covers the Zackly copper-gold skarn deposit and surrounding lands considered prospective for porphyry copper-gold deposits. A historical resource of 218,944 ounces of gold and 66.9 million pounds of copper contained in a deposit of 1.13 million metric tons grading 6.03 grams-per-metric-ton gold and 2.69 percent copper has been calculated for the 1,000-meter-long Zackly deposit, and the skarn mineralization occurs over a strike length of more than 3,000 meters.
Millrock’s Alaska portfolio also includes: Apex El Nido, a high-grade gold project in Southeast Alaska; West Pogo, a gold property adjacent to Sumitomo Metal Mining’s Pogo Mine; Alaska Peninsula, a large package of Alaska Native-owned lands that blankets a classic island-arc environment prospective for porphyry copper-gold-molybdenum systems; Humble, a porphyry-style copper-gold prospect in Southwest Alaska; AUDN, a porphyry copper-gold prospect comparable to the Pebble deposit located about 55 miles (90 kilometers) to the northeast; and Liberty Bell, a road-accessible project about 70 miles (115 kilometers) south of Fairbanks that is prospective for copper-gold porphyry and associated gold deposits.
Millrock also holds a large portfolio of gold projects in northern Mexico. Exploration on two of these properties – Los Chinos and Los Cuarentas – is being funded by Centerra Gold Inc.
Cash and Cash Equivalents: C$2.7 million (June 30, 2016)
Working Capital: C$3.6 million (June 30, 2016)
Market Capitalization: C$21.4 million (Sept. 28, 2016)
P.O. Box 200867
719 E 11th Ave., Suite C
Anchorage, AK 99520
Tel: 907-677-7479
www.millrockresources.com
