Millrock Announces Geophysical Survey at Oweegee Dome Project, Stewart Golden Triangle District, BC
VANCOUVER, BC--(Marketwired - September 26, 2016) - Millrock Resources Inc. (TSX VENTURE: MRO) ("Millrock") announces that a ZTEM airborne geophysical survey is underway at its Oweegee Dome project, located in the Golden Triangle district northwest of the town of Stewart, British Columbia.
The ZTEM „¢ or (Z-Axis Tipper Electromagnetic system) is an innovative airborne electromagnetic system which uses the natural or passive fields of the earth as the source of transmitted energy. The system is capable of deep penetration and identification of conductive zones at depth. Case studies have shown that structural features and pyrite halo mineralization around significant porphyry ore bodies is possible. The geophysical survey system was developed by Geotech Ltd. of Aurora, Ontario. Geotech is conducting the survey with their aircraft and instrumentation, and will be merging these geophysical results with other types of surveys that have previously been conducted on the property by prior operators.
Phil St. George, Millrock's Chief Exploration Officer, commented: "This survey will complement the existing geophysical information that we acquired along with the property when we purchased it. We now have all project information in a database and will use all data at hand to develop drill targets for testing in 2017."
The geologic strata underlying the Oweegee Dome property appears to have been the focus of a large, hydrothermal mineralizing system. Several genetically related metallic mineral deposit target types are represented. Gold -- copper porphyry, volcanogenic massive sulfide, and stratabound silver -- zinc -- lead -- copper deposit indicators are all observed at various locations on the property. Favorably situated on rocks of the Jurassic-aged Lower Hazelton Group, the Oweegee Dome is an anticlinal structure exhibiting orthogonal structural fabric that seems to be common in proximity to other deposits in the Golden Triangle district. Rocks of the older, Triassic, Stuhini Formation are exposed in the core of the anticline. The Hazelton-Stuhini contact is known to be a very productive stratigraphic level for mineral deposits in the Golden Triangle. The same rocks host Seabridge's KSM copper-gold porphyry deposit and Pretivm's Brucejack epithermal gold deposit, which are on an adjacent claim blocks, approximately 25 kilometers to the west. Millrock's property completely covers a little-explored inlier of the favourable rocks within the Bowser Basin. It is a district-scale land package comprising 312 square kilometers that includes the differentiated Delta Intrusion which is known to contain very anomalous copper and gold values in soil, rock and drill core samples. Millrock is a 100% owner of the mineral rights. The project is located 90 kilometers northeast of the town of Stewart, British Columbia. Highway 37 and the new Northwest Transmission Line pass through the western portion of the property.
The technical information within this document has been 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:
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 active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock's exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius.
ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO
FORWARD LOOKING STATEMENTS:
Some statements in this news release contain forward-looking information. 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 the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."
Contact
FOR FURTHER INFORMATION PLEASE CONTACT:
Melanee Henderson
Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com
Gregory A. Beischer
President & CEO
(604) 638-3164
gbeischer@millrockresources.com
Millrock Resources Inc.
2300 - 1177 West Hastings St.
Vancouver, BC V6E 2K3
Canada