Millrock Provides Corporate Update, Drilling to Begin At West Pogo

VANCOUVER, BC—Millrock Resources provided an update on recent activity and plans.

“Millrock has made some strong advancements through 2019,” says Millrock President & CEO Greg Beischer. “We believe that 2020 will be a watershed year for the company, and we are particularly excited to begin exploration work in earnest at the 64North Gold Project. We will begin with a drill program at the compelling Aurora Target located immediately west of the Pogo Gold Mine in Alaska.”

64North Gold Project: Goodpaster Mining District

Initial drilling at the Aurora target on the West Pogo Block of the 64North Gold Project is scheduled to begin in early March 2020. Earn-in partner Resolution Minerals Ltd. reported it had successfully raised $4.5 million to fund the planned work. The initial program will consist of four or five holes totaling 2,000 meters and will test the Aurora target. The target area is located within sight and approximately 2.5 to 3.5 kilometers west of Northern Star’s Pogo Mine. Northern Star reports an endowment of approximately 10 million ounces of gold at Pogo. (3.8 million ounces mined at 13.8 grams per ton gold, 1.5 million ounces reserves at 7.5 grams per ton gold, included in a resource of 5.95 million ounces at 9.5 grams per ton gold, as reported by the ASX listed company. The reserves and resources reported on are not on Millrock’s ground and Millrock has not independently verified the numbers reported by Northern Star.)

More recently, Northern Star has reported the discovery of the Goodpaster gold deposit northwest of the mine, even closer to the mutual Millrock–Northern Star claim boundary and the Aurora target. The Aurora target is a 1.5-by-4 kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the Pogo Mine.

Millrock postulates that the late diorite intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle shear zone that is known to host gold at Pogo and the Goodpaster deposit. Millrock believes this structure exists at the Aurora target. From a recent CSAMT survey it appears likely that a favorable shear zone is present below surface. Drilling will begin at the east end of the target. The various attributes of the target are shown on the following compilation map.