Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) is pleased to
report positive initial results from a mineralogical assessment of
historical drill core from the Upper Eureka Zone (“UEZ”) and Core
Eureka Zone (“CEZ”) at its 100% owned Nikolai Project, which hosts
nickel (Ni) – copper (Cu) –cobalt (Co) – platinum group elements
(PGE) prospects. The Nikolai Project is located within Alaska’s
Delta Mining District, approximately 130 kilometers by road south
of Delta Junction and approximately 280 kilometers southeast of
Fairbanks. The Eureka zone consists of disseminated Ni-Cu-Co-PGE
mineralization initially discovered by a subsidiary of INCO, and
further expanded by Pure Nickel Inc., as reported in their press
releases ranging between 2007-2014.
Highlights from the mineralogical assessment
include:
- 94% of the nickel within the CEZ is contained within nickel
sulfide (pentlandite) and nickel alloy minerals.
- 72% of the copper within the CEZ is contained within copper
sulfides (chalcopyrite, bornite, chalcocite).
- 80% of the nickel within the UEZ is contained within nickel
sulfide (pentlandite) and nickel alloy minerals.
- 75% of the copper within the UEZ is contained within copper
sulfides (chalcopyrite, bornite, chalcocite).
Millrock President and CEO Gregory Beischer commented: “These
are encouraging results! For large tonnage – low-grade deposits, it
is crucial that potential recovery rates of the valuable metals are
well understood. This first-pass work shows that much of the nickel
and copper is in mineral form that allows strong recoveries with
common processing methods.”
Methodology – Metal ContentTwo composite
samples from hole FL-003 were created for the UEZ and CEZ. Each
composite was comprised of six quarter-core sample intervals spread
across the mineralized zones. The anticipated metals content for
each of the composited samples was calculated using historical
assays from the work done by INCO in 1997 (Table 1). Historical
logging and sampling of the INCO drill core was done under the
direct supervision of Gregory Beischer, the qualified person
responsible for the contents of this disclosure. Historical assays
were performed at Chemex, Inc. in Reno, Nevada. Chemical analysis
of the composites for this study were completed prior to the
mineralogical study to validate the historical assay results
completed by INCO (Table 1). Concentrations determined by INCO and
by Millrock were found to be similar.
Table 1. Sample intervals, historical grades,
calculated composite grades, and actual assay results from
mineralogical study for selected samples from hole FL-003 to create
composites for the CEZ and UEZ.
Composite 1 - Core Eureka Zone (CEZ) |
Sample |
Hole ID |
From ft |
To ft |
Ni ppm |
Cu ppm |
Co ppm |
Pd ppb |
Pt ppb |
Au ppb |
FX536263 |
FL-003 |
758 |
763 |
1900 |
1800 |
290 |
164 |
105 |
10 |
FX536264 |
FL-003 |
763 |
768 |
1900 |
1870 |
260 |
162 |
80 |
14 |
FX536270 |
FL-003 |
793 |
798 |
2500 |
1270 |
220 |
164 |
80 |
10 |
FX536274 |
FL-003 |
813 |
818 |
3000 |
1560 |
240 |
206 |
80 |
52 |
FX536277 |
FL-003 |
828 |
833 |
2300 |
820 |
180 |
118 |
50 |
16 |
FX536281 |
FL-003 |
848 |
853 |
3200 |
1460 |
210 |
132 |
50 |
24 |
CEZ Calculated Grade (Historic Assays) |
0.25 |
0.14 |
0.02 |
0.157 |
0.072 |
0.023 |
New Assays Results from Composite Samples |
0.25 |
0.16 |
0.02 |
0.173 |
0.043 |
0.068 |
|
|
|
|
|
|
|
|
|
|
Composite 2 - Upper Eureka Zone (UEZ) |
Sample |
Hole ID |
From ft |
To ft |
Ni ppm |
Cu ppm |
Co ppm |
Pd ppb |
Pt ppb |
Au ppb |
FX536768 |
FL-003 |
257 |
262 |
1690 |
385 |
141 |
82 |
42.5 |
2 |
FX536772 |
FL-003 |
283 |
288 |
1500 |
340 |
120 |
71 |
33 |
2 |
FX536084 |
FL-003 |
347 |
350 |
2397 |
938 |
146 |
128 |
55 |
14 |
FX536086 |
FL-003 |
400 |
405 |
2636 |
918 |
154 |
132 |
65 |
16 |
FX536798 |
FL-003 |
415 |
420 |
1975 |
630 |
133 |
83 |
36 |
12 |
FX536253 |
FL-003 |
708 |
713 |
2000 |
940 |
220 |
146 |
70 |
24 |
UEZ Calculated Grade (Historic Assays) |
0.20 |
0.07 |
0.02 |
0.104 |
0.049 |
0.009 |
New Assays Results from Composite Samples |
0.23 |
0.06 |
0.02 |
0.135 |
0.031 |
0.095 |
Methodology Mineralogical StudyThe mineral
processing work was completed by the Bureau Veritas Metallurgical
Laboratory in Richmond, British Columbia, Canada. The individual
composites were ground to ~125µm following standard grind
calibration procedures. The ground composites were sized using wet
screens and a cyclone sizer, and then sized into four fractions for
chemical analysis and QEMSCAN analysis. QEMSCAN Particle Mineral
Analysis was conducted on each size fraction of the sized
composites to determine nickel and copper deportment and
fragmentation characteristics.
Initial Mineralogical Study ResultsNickel
sulfide and nickel alloys accounted for ~94% of the total nickel
within the CEZ composite sample (only 5.1% of total nickel in
silicates). Pentlandite was the principal nickel bearing sulfide
and carried ~92% of the total nickel in the CEZ composite.
Pentlandite content was measured at 0.68% by weight. The remaining
potentially recoverable nickel was in the nickel alloys and nickel
metal, which accounted for ~2% of the total nickel. Sulfur is
higher in the CEZ (1.32%) and there is an increased amount of
pyrrhotite (1.78% by weight). Interlocking between pentlandite and
pyrrhotite was rarely observed, which will be favorable to the
pentlandite separation from pyrrhotite.
Nickel sulfide and nickel alloys accounted for ~80% of the total
nickel within the UEZ composite sample (18.9% of total nickel in
silicates). Pentlandite was the principal nickel bearing sulfide
and carried ~64% of the total nickel in the CEZ composite.
Pentlandite content was measured at 0.44% by weight. The remaining
potentially recoverable nickel was in the form of nickel alloy and
nickel metal, which accounted for ~16% of the total nickel. Sulfur
is lower in the UEZ (0.49%), likely due to the decrease in
pyrrhotite. These results are summarized in Table 2 below.
Table 2. Summary of Ni-Fe-S deportment of
Eureka Zone composites
Nickel Deportment |
CEZ |
UEZ |
Ni-Fe Sulfides |
92.2 |
% |
64.1 |
% |
Ni-Fe Alloys |
2.1 |
% |
16.7 |
% |
Sulfide-Hydroxide |
0.6 |
% |
0.3 |
% |
Silicates (Olivine) |
5.1 |
% |
18.9 |
% |
Total Potential Recoverable Nickel |
94.3 |
% |
80.8 |
% |
% Ni from chemical analysis |
0.25 |
% |
0.23 |
% |
% S from chemical analysis |
1.32 |
% |
0.49 |
% |
Weight % pentlandite |
0.68 |
% |
0.44 |
% |
Weight % pyrrhotite |
1.78 |
% |
0.55 |
% |
Copper sulfides accounted for ~71% to 75% of the total copper
within the CEZ and UEZ composites. Chalcopyrite is the dominant
copper sulfide and accounts for ~67% to 71% of the copper in the
composite samples. Bornite, chalcocite, cuprite, malachite, and
azurite were also present, in the composite samples. The remainder
of the copper (~24% to 28%) was present in valleriite (Cu-Fe-Mg
sulphate). The copper sulfide contents were 0.31% by weight in the
CEZ and 0.14% by weight in the UEZ. These results are summarized in
Table 3 below.
Table 3. Summary of Cu-Fe-S deportment of
Eureka Zone composites
Copper Deportment |
CEZ |
UEZ |
Chalcopyrite |
66.8 |
% |
70.7 |
% |
Bornite |
1.0 |
% |
1.7 |
% |
Chalcocite/Covellite |
3.5 |
% |
2.9 |
% |
Cuprite, Malachite, Azurite |
1.1 |
% |
0.2 |
% |
Valleriite |
27.5 |
% |
24.5 |
% |
Total Potential Recoverable Copper |
72.4 |
% |
75.5 |
% |
% Cu from chemical analysis |
0.16 |
% |
0.07 |
% |
Weight % Cu Sulfides |
0.31 |
% |
0.14 |
% |
An additional composite sample from the Lower Eureka Zone
(“LEZ”) has been submitted to Bureau Veritas to complete identical
mineralogical analysis. Assay results from the LEZ were reported in
the Millrock press release from September 26, 2022. The results of
the third composite will be released when completed.
Quality Control – Quality AssuranceMillrock
adheres to stringent Quality Assurance – Quality Control (“QA/QC”)
standards. Core samples are kept in a secure location at all times.
In this case, the samples were assayed at the Bureau Veritas
laboratory in Vancouver, Canada. Preparation and analysis methods
are described in further detail here. Analysis methods used
include MA270 – 4-acid digestion ICP-ES/MS Finish and FA330 – Fire
assay fusion Au, Pt, Pd by ICP-ES. The Qualified Person is of the
opinion that the results reported in this press release are
reliable.
Qualified PersonThe technical information
within this document has been reviewed and approved by Gregory A.
Beischer, President, CEO, and a director of Millrock. 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 Resolution
Minerals 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, 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 contain forward-looking
information, including but not limited to execution of further
deportment studies. 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.”
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