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Millrock Provides Exploration Update on 64North Gold Project, Alaska

20.04.2021  |  GlobeNewswire

Highlights:

  • Millrock partner Resolution Minerals has completed a rotary air blast drilling program at the Sunrise prospect, West Pogo block, 64North gold project, Alaska.
  • Drilling targeted intrusion-hosted disseminated gold mineralization exposed in a road cut located approximately four kilometers southwest of the Pogo Mine operated by Northern Star Resource Ltd. Results from drilling are expected in May.
  • Resolution indicates it intends to do drilling on the East Pogo block of 64North in summer 2021 using a heliportable reverse-circulation drill rig.

Figure 1: Rotary Air Blast drill rig in action at the Sunrise prospect, West pogo block, 64North gold project, Alaska.
https://www.globenewswire.com/NewsRoom/AttachmentNg/80d4f0cd-6e54-4a3b-987e-314d5f06a587

VANCOUVER, British Columbia, April 20, 2021 -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the "Company") notes that Resolution Minerals Inc. (ASX: RML) ("Resolution) has completed a drilling program at the jointly owned 64North gold project, Alaska. The program completion was announced by Resolution in an April 15, 2021 press release. A total of 27 holes were completed in a fence measuring 1,400 meters. The holes were drilled from the drill trail leading from the Pogo Mine road to the Aurora prospect located to the west of the Pogo Mine. Holes ranged between 45 and 75 meters in depth. The drill holes were designed to test beneath anomalous surface rock samples collected along the road cut in 2020. The sampling work had indicated highly anomalous gold values over 137 meters. The Sunrise prospect is located approximately 4.5 kilometers southwest of the Pogo Mine.

Resolution has also indicated its intention to start another drilling program in early summer 2021 on the East Pogo block utilizing a heliportable reverse circulation drill rig. The program will target geophysical / geochemical anomalies and surface gold occurrences.

The 64North Project surrounds the Pogo Gold Mine owned by Northern Star Resource Ltd., and is located approximately 120 kilometers from Fairbanks, Alaska in the Tintina Gold Province. The two main styles of mineralisation being targeted in this region are the high-grade Pogo style and the large-scale, but low-grade Fort Knox style deposits. These styles are typical for the Tintina Gold Province, which hosts over 100 million ounces of gold endowment. Resolution has earned a 30% interest in the 64North gold project, and is on track to increase its ownership to 42% by virtue of the recently completed and upcoming drill programs. Millrock receives cash and Resolution share payments in accordance with the option agreement made between Millrock and Resolution in late 2019.

Figure 2: Location Map - Goodpaster Mining District and 64North Gold Project Location within the Tintina Gold Province, Alaska.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0c07ee1-8e3a-46e4-8856-90ec8c724f1d

Figure 3: Location Map - 64North Claim Block (blue) in relation to Northern Star's Pogo Mine property (green).
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbe498f5-3a32-4aed-9dee-d612f1f5f7c8

Qualified Person
The 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, and is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Ltd.. 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, and Felix Gold.

ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | 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 mount further exploration including drilling in 2021. 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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