Millrock Reports Geophysical Results, Oweegee Dome Porphyry Copper-Gold Property, Golden Triangle District, British Columbia
VANCOUVER, BC--(Marketwired - February 14, 2017) - Millrock Resources Inc. (
The ZTEM survey covered a large portion of the property. The goal was to identify conductive bodies that may represent porphyry-style copper-gold deposits. The objective of the magnetic survey was to map rock types and to image rocks beneath the surface. As part of the program, current survey results were merged with results from other geophysical survey types, as well as geochemical and geological information, and surface mineral occurrence information. Through this work Millrock has gained a better understanding of the mineral potential of the claim block, and a series of compelling drill targets have emerged. Three-dimensional modeling of the magnetic data has indicated and imaged an interesting magmatic intrusion that may be the source and host of copper-gold mineralization.
The Oweegee Dome project covers a large area of approximately 32,000 hectares owned 100% by Millrock, located approximately 90 km northwest of the town of Stewart, British Columbia. The Stewart-Cassiar Highway 37 passes through the western portion of the claims, as does the 287 kv Northwest Transmission Line. The claims are adjacent to Pretivm's high-grade Brucejack gold mine development project and Seabridge's KSM porphyry copper-gold project, in a very similar geological setting. The claim block covers a large anticlinal structural window of the favourable Hazelton Group rocks surrounded by rocks of the Bowser Basin. The rocks represent the favourable stratigraphic level and show signs of the appropriate structural environment for the formation of possible major metal deposits.
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 conducted the survey with their aircraft and instrumentation. The magnetic survey is useful for mapping rock types beneath overburden. Data processing and three-dimensional modeling of data helps provide an image of intrusive, magmatic rocks. As part of the contract, this ZTEM and magnetic survey were merged with compiled geophysical results from other survey types that were previously conducted on the property by prior operators.
Millrock has solicited interest from potential funding partners that may earn an interest in the project. Discussions with various groups are in progress and a full outline of the project can be found here. Oweegee Dome is one of four active projects Millrock has in the Golden Triangle, all situated adjacent to Pretivm's high-grade Brucejack gold mine development project and Seabridge's KSM porphyry copper-gold project. A full list of Millrock's Golden Triangle projects can be found here.
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, Kinross, First Quantum, Teck, Vale, Inmet, Altius, and Riverside.
ON BEHALF OF THE BOARD
Gregory A. 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.
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