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By: Brien Lundin
Gold Newsletter

Millrock Resources (MRO.V; MLRKF.PK; C$0.46) has begun surface exploration on its Los Chinos and Los Cuarentas project in Mexico. Both have been joint ventured to Centerra Gold, which can earn a 70% interest in them by spending US$5.0 million on exploration at Los Chinos and US$2.0 million at Las Cuarentas over a five-year period. 

The work at Los Chinos will include mapping, sampling and geophysical work. It will focus on the El Camino zone and will include trenching for target identification in advance of potential drilling. Las Cuarentas will receive a round of stream sediment sampling.

In other news, Millrock recently acquired the Willoughby gold prospect in British Columbia’s Stewart Golden Triangle district. Located three kilometers east of IDM Mining’s (IDM.V; C$0.22) Red Mountain project, Willoughby comes with a number of high-grade gold-silver intercepts encountered by previous operators.

The purchase price was C$40,000 and 300,000 Millrock shares. Millrock will make additional payments, pending the achievement of certain milestones.

The Willoughby acquisition and the joint venture work in Mexico are par for the course for this prospect generator. As the market begins to look further down the food chain towards explorers, companies like Millrock will definitely find interest. The share price has perked up quite a bit this year, but the company remains a solid buy at current levels.

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The above is an excerpt from GOLD NEWSLETTER July 2016 Issue. 

Gold Newsletter stands as the oldest and most respected precious metals and mining stock advisory in the world.

Now in its fifth decade, Gold Newsletter continues to provide in-depth monthly analysis of the precious metals market and timely recommendations of high-potential, undervalued and under-reported mining and exploration shares. Click here to learn more.

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MARKET SUMMARY

INDICES

Name Last Change
DOW 23526.20 0.27%
S&P 500 2597.08 0.08%
NASDAQ 6867.36 0.07%
TSX 16074.30 0.00%
TSX-V 792.78 0.00%

Resource Commodities

Name Last Change
Gold 1291.46 0.05%
Silver 17.10 0.35%
Copper 3.13 0.29%
Platinum 935.50 0.53%
Oil 58.02 2.05%
Natural Gas 2.97 1.65%
Uranium 24.25 N/A
Zinc 1.48 0.00%

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