Millrock Resources (TSX-V: MRO); (OTC: MLFKF) 877-217-8978 millrockresources.com
Millrock Resources has been active in central Alaska of late, announcing new claims near the Pogo mine and geophysical work on its Stellar gold-copper project near the Denali Highway.
The new claims and option agreements near Pogo are in the state’s Goodpaster Mining District. For those unfamiliar, Pogo is a massive gold mine, producing 300,000 ounces of gold on an annual basis. If the best place to look for gold is near where you’ve already found it, these claims are in an outstanding location.
With the recent pickups, Millrock now controls 15,847 hectares of ground in the area contained within six claim blocks. The acquisitions are part of a collaboration agreement with a major, which has funded the majority of the US$250,000 in exploration work to stake the claims.
Their addition is another example of how the junior employs the prospect generator model to maximize the potential of its large property portfolio.
Another example of that model is the geophysical study that Millrock partner Vista Minerals is conducting on Stellar, their shared gold project. The private Australian company has a right to earn up to an 80% interest in Stellar by spending $4 million in exploration and paying $300,000 to Millrock over four years.
The surveying work is attempting to assess the potential of the Jupiter copper occurrence and an area of the Stellar property that lies to the west of the Zackly gold-copper deposit. The current Stella property now spans 7,187 hectares, thanks to a follow-on round of claim-staking conducted by the partners earlier this year.
While both these projects are in their early phases, they demonstrate what Millrock does best: using its geological expertise to identify properties of merit and then finding JV partners to do the heavy lifting of exploration.
A smart long-term bet on metals exploration in the Americas, this company continues to be a good buy at current trading levels.
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