Millrock and Sojourn Commence Field Work on Two Golden Triangle Projects, British Columbia, Canada
VANCOUVER, BC--(Marketwired - August 30, 2017) - Millrock Resources Inc. (
At the Willoughby project, the primary focus will be prospecting present-day glacier margins for newly exposed surface mineralization. It has been close to a decade since geologists have visited the site and during this period glaciers have been rapidly retreating. The field crew will search for mineralized zones, and if located, collect rock samples and create geological maps. Additionally, structural geology will be mapped to help understand the gold mineralizing controls. The work will be done from Millrock's exploration facility in Stewart, BC. Meanwhile, historic paper exploration drilling records will be digitized and brought into a modern digital database and a three-dimensional model formed. Past drilling results indicate high-grade gold results over significant core lengths as further described in an earlier Millrock press release.
For the Oweegee Dome project, which is prospective for porphyry copper-gold deposits and volcanogenic zinc-lead deposits, planned work will consist of the following:
- Stream silt sampling over the entire claim block (approximately 240 samples), and
- Prospecting, mapping, and soil sampling at each of ten high priority geophysical targets that were previously identified by the VTEM and ZTEM / Mag surveys conducted in prior years.
The Oweegee Dome project is described in more detail here.
Sojourn has the option to earn a 100% interest in the Willoughby and Oweegee Dome projects by making payments to Millrock in the form of Sojourn shares and by funding exploration in accordance with a set minimum schedule. Millrock is also entitled to a 2% Net Smelter Returns royalty.
Millrock presently owns 12.6% of the issued and outstanding shares of Sojourn.
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 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.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
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."
Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.
@RSDigest ON TWITTER
Small Cap Stock Digest