Millrock Announces Additional Trench Results; Centerra Gold Authorizes Drilling Program Extension at La Navidad Gold Project, Sonora State, Mexico
VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V:MRO) (OTCQX:MLRKF) ("Millrock") is pleased to report the current drilling program underway at the La Navidad gold project has been extended. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic, bulk mineable, run-of-mine, oxidized deposits that could be processed by heap leaching.
Exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). Originally, the core drilling program was to consist of 1,650 meters in seven holes with further drilling contingent upon results. After a recent review, Centerra has authorized a drilling program extension. The complete program will now consist of approximately 2,900 meters in 17 holes. Drilling is presently progressing on the tenth hole. The full program is likely to be completed by the end of June, based on the rate of production realized in the first part of the program.
The current drilling program is targeting the large, strong, gold-in-soil anomalies previously identified at the Cobre and Crossover prospects in 2017. Recent trenching has confirmed bedrock gold mineralization at surface in these prospect areas. Initial trench results were reported here.
Following is a table of results of rock chip-channel samples from all 19 trenches excavated and sampled. A gold cutoff of 0.1 grams per tonne gold was used to calculate the composite intervals using a maximum of 3.0 meters of internal dilution. Geological relationships are not clear enough to accurately estimate true width of the anomalous zones reported. Trenches NAVTR-10, NAVTR-11, NAVTR-17 and NAVTR-18 did not contain significant anomalous results.
| Trench # | From (meters) | To (meters) | Length (meters) | Gold Grade (g/t) | ||
| NAVTR-01 | 12.0 | 19.0 | 7.0 | 0.64 | ||
| NAVTR-02 | 16.5 | 25.0 | 8.5 | 0.25 | ||
| NAVTR-03 | 9.4 | 20.3 | 10.9 | 0.44 | ||
| NAVTR-03 | 39.7 | 57.9 | 18.2 | 0.28 | ||
| NAVTR-03 | 75.6 | 100.5 | 24.9 | 0.34 | ||
| NAVTR-03A | 28.0 | 44.0 | 16.0 | 0.13 | ||
| NAVTR-04 | 10.0 | 18.0 | 8.0 | 0.50 | ||
| NAVTR-05 | 33.0 | 39.0 | 6.0 | 0.38 | ||
| NAVTR-05 | 129.0 | 135.0 | 6.0 | 0.19 | ||
| NAVTR-06 | 68.5 | 84.5 | 16.0 | 0.59 | ||
| including | 76.5 | 80.5 | 4.0 | 1.56 | ||
| NAVTR-06 | 94.5 | 96.5 | 2.0 | 0.87 | ||
| NAVTR-07 | 64.7 | 66.9 | 2.2 | 1.89 | ||
| NAVTR-08 | 37.8 | 48.0 | 10.2 | 0.16 | ||
| NAVTR-09 | 14.8 | 22.0 | 7.2 | 0.23 | ||
| NAVTR-09 | 31.0 | 34.0 | 3.0 | 0.41 | ||
| NAVTR-09 | 36.7 | 41.7 | 5.0 | 0.37 | ||
| NAVTR-12 | 16.5 | 21.0 | 4.5 | 1.63 | ||
| including | 18.0 | 19.5 | 1.5 | 4.50 | ||
| NAVTR-12 | 47.0 | 50.6 | 3.6 | 0.71 | ||
| NAVTR-14 | 28.1 | 31.5 | 3.4 | 0.36 | ||
| NAVTR-15 | 18.0 | 21.8 | 3.8 | 0.21 | ||
| NAVTR-15 | 28.7 | 37.0 | 8.3 | 0.21 | ||
| NAVTR-16 | 27.0 | 36.5 | 9.5 | 0.29 | ||
| NAVTR-16 | 41.7 | 43.0 | 1.3 | 5.26 | ||
| NAVTR-19 | 22.8 | 24.8 | 2.0 | 6.49 | ||
Since forming an option to purchase agreement with the underlying mineral right owner of La Navidad in June 2017, and a simultaneous option to joint venture agreement with Centerra, the companies have collaborated to execute a comprehensive exploration program. Centerra is funding the exploration work to earn a majority interest in the project.
Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core and rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. 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 FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples, a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also 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 active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. 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: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)
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.