Millrock Reports Drilling Has Commenced on the Treasure Creek Gold Exploration Project, Fairbanks, Alaska
03 Mai 2022 - 5:23PM
Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or
the “Company”) reports that Felix Gold (ASX: FXG, “Felix Gold” or
“Felix”) has commenced drilling on the Treasure Creek gold project,
which lies just north of the City of Fairbanks.
Felix indicates that it plans to drill 7,000 meters with a small
reverse circulation drill rig. Millrock has assigned its Treasure
Creek mineral rights to Felix Gold in return for cash, shares and
production royalties featuring advanced minimum royalty streams.
Millrock owns 9,957,157 Felix Gold shares that today have a market
value of approximately AUD$1,643,000 (CDN$1,495,000).
Millrock President & CEO Gregory Beischer commented: “The
targets to be drilled by Felix Gold have a strong chance of
successfully identifying a gold deposit. A new discovery here would
propel the value of Millrock’s shareholding in Felix Gold and in
return increase the value of Millrock shares. The project is
certainly well-situated, about 20 kilometers north and west of
Kinross’ Fort Knox gold mine, and 10 kilometers west of Freegold’s
new discovery at Golden Summit. Alluvial gold deposits in gravels
of Treasure Creek point to a bedrock source on the Felix Gold
claims where large, strong soil geochemical anomalies are known
from historical work and a major soil sampling program done in
2021. We will look forward to assay results from the current
drilling program with great anticipation. Felix Gold has built an
excellent exploration team and is well-capitalized. The team has a
great chance of making discoveries and revealing the substantial
potential for more major gold deposit discoveries in the Fairbanks
gold mining camp. In my view, the potential in Fairbanks has been
generally under-recognized by the industry. This has allowed Felix,
through Millrock, to consolidate a tremendous land position. As a
result of the agreement with Felix, Millrock is entitled to
production royalties at Treasure Creek and throughout the Fairbanks
district.”
Qualified PersonThe 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 recognized
as the premier generative explorer in Alaska, holds royalty
interests in British Columbia, Canada, and Sonora State, Mexico, is
a significant shareholder of junior explorer ArcWest Exploration
Inc., and owns a large shareholding in each of Resolution Minerals
Limited and Felix Gold Limited. 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: EMX Royalty, Coeur
Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale,
Inmet, and Altius, as well as junior explorers Resolution,
Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee
Henderson, Investor RelationsToll-Free: 877-217-8978 | Local:
604-638-3164Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities legislation)
including without limitation the intention to perform further
exploration on the Treasure Creek project. 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.
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