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Millrock Resources Inc. (MRO.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.1100+0.0050 (+4.76%)
As of 3:27PM EST. Market open.
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Previous Close0.1050
Open0.1050
Bid0.1050 x 0
Ask0.1100 x 0
Day's Range0.1000 - 0.1100
52 Week Range0.0900 - 0.3200
Volume389,045
Avg. Volume199,668
Market Cap12.667M
Beta (5Y Monthly)0.33
PE Ratio (TTM)N/A
EPS (TTM)-0.0090
Earnings DateFeb. 26, 2021 - Mar. 05, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Millrock Reports Assay Results From Drilling and Surface Rock Sampling at West Pogo and Eagle Blocks, 64North Project, Alaska
    GlobeNewswire

    Millrock Reports Assay Results From Drilling and Surface Rock Sampling at West Pogo and Eagle Blocks, 64North Project, Alaska

    Figure 1 Millrock claims shown in blue. The large, 660 square kilometer property is subdivided into “blocks”. Prospects pertinent to this press release are indicated in red. Highlights Broad, low-grade intrusion-hosted gold mineralization was sampled at the Sunrise prospect, West Pogo block. Continuous rock sampling in a road cut leading to the adjacent Aurora prospect area returned: º 93.0 meters @ 0.29 grams per tonne (“g/t”) gold including º 27.0 meters @ 0.53 g/t gold with a maximum 1.0 meter interval @ 1.89 g/t gold.Partner Resolution minerals indicates its plans to test the new Sunrise prospect with a Rotary Air Blast (“RAB”) drill in March 2021.Drilling of two holes at the Aurora prospect in November / December 2020 did not result in any significant gold intercepts.Trenching and rock sampling completed at the Eagle prospect in late 2020 returned zones of low grade gold mineralization: º 12.0 meters @ 0.20 g/t gold including 3.0 meters @ 0.56 g/t gold in Trench ID: 20E1004; and º 26.0 meters @ 0.10 g/t Au in Trench ID: 20E1002 VANCOUVER, British Columbia, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces assay results from road cut sampling at the Sunrise prospect, drilling at the Aurora prospect of the West Pogo block, and trenching at the E1 prospect, Eagle block, at the 64North Gold Project, Alaska. 64North is a large project situated near Northern Star’s Pogo Mine. Resolution Minerals (ASX: RML, “Resolution”) is earning an interest in the project by funding exploration. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c475439-3a2e-435f-aba0-32b658be7e15 Aurora Prospect, West Pogo BlockThe final two diamond drill holes (20AU08 and 20AU09) of the 2020 drilling program intersected multiple quartz veins following up on the 7.0 meter-thick quartz vein in hole 20AU07 previously reported. No significant assays were encountered on these last three holes for 2020, despite the technical success. A comprehensive review of the structural data and assays results from the 2020 West Pogo drilling program is underway to determine the next steps for the Aurora, Echo, and Reflection Prospects. E1 Prospect, Eagle BlockFour trenches totaling 716 meters in length were excavated across the highest priority structures at this prospect. The trenches intersected numerous zones of gold mineralization consistent with intrusion-related-intrusion-hosted style gold mineralization. Trenching and rock sampling completed at the Eagle prospect in late 2020 returned zones of low-grade gold mineralization: 12.0 meters @ 0.20 g/t Au including 3.0 meters @ 0.56 g/t gold in Trench ID: 20E1004; and26.0 meters @ 0.10 g/t Au in Trench ID: 20E1002 The trenches are located within a large gold geochemical anomaly that measures 10 square kilometers. Resolution indicates it plans to do further work to develop drill targets in 2021 at this prospect. Sunrise Prospect, West Pogo BlockA previously constructed drill road that runs from the Pogo Mine road to Millrock’s Aurora prospect crosses the Sunrise prospect. Bedrock was exposed over significant lengths in road cuts when the road was constructed. Continuous rock sampling along the road cut has identified a broad zone of low-grade intrusion-hosted gold mineralization. The results are: 93.0 meters @ 0.29 grams per tonne (“g/t”) gold including 27.0 meters @ 0.53 g/t gold with a maximum 1.0 meter interval @ 1.89 g/t gold. The Sunrise prospect lies just to the south of the Aurora prospect and is approximately four kilometers from Northern Star’s Pogo Mine. The prospect is underlain by a quartz-felspar-biotite granite intrusion crosscut by sheeted quartz veins that contain gold. This style of mineralization is a distinguishing feature of intrusion hosted gold systems. The granite body is overburden-covered, except for a few small outcroppings. A large zone measuring 400 meters by 1,100 meters of anomalous soil sample results overlies the inferred position of the granite body. Resolution indicates that it is planning a 3,000-meter RAB drilling program with approximately 25 holes to be drilled. The drilling will be done along the existing drill trail leading from the Pogo Mine road to the Aurora prospect. Resolution reports it intends to commence drilling in March 2021. Quality Control and Quality AssuranceMillrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core was transported to Millrock’s operation base in Fairbanks, Alaska where it was logged, cut and sampled. Drill core and samples were kept in a secure location at all times. For the results presented here, the representative half-core samples and rock samples underwent sample preparation at the Bureau Veritas laboratory in Fairbanks, Alaska, (preparation method code PRP70-250) using 70% to <2 mm Crush and Pulverize 85% to <75 um. Appropriate high, medium and low gold and base metal standards were used by Millrock on a 1:20 basis (5%). Blanks were inserted on a 1:50 basis (2%). The Bureau Veritas laboratory introduces QAQC samples and completes duplicate check assays on a routine basis. Following preparation in Fairbanks the samples were subsequently analyzed at the Bureau Veritas laboratory in Reno, Nevada. Gold was analyzed by Fire Assay (code FA430/AA) with an AAS finish using a 30 gram nominal sample weight. No multi-element analysis was completed on the samples. Inspection of QAQC information indicates that all sample results are within tolerance. 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, and is a significant shareholder of junior explorer ArcWest Exploration Inc. as well as a 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, and Felix Gold. ON BEHALF OF THE BOARD“Gregory Beischer” Gregory Beischer, President & CEO FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee Henderson, Investor Relations(604) 638-3164(877) 217-8978 (toll-free) 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 RAB 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.

  • Millrock Forms Strategic Alliance With Felix Gold and Vends Three Projects, Fairbanks Gold District, Alaska
    GlobeNewswire

    Millrock Forms Strategic Alliance With Felix Gold and Vends Three Projects, Fairbanks Gold District, Alaska

    Figure 1 Tintina Gold Province. Major gold deposits are shown as gold-filled circles. Millrock / Felix Gold projects shown as yellow stars. Figure 2 Millrock / Felix Gold claims of the Fairbanks Gold District are shown in blue. Major producing or past-producing mines are indicated by crossed picks (yellow = lode deposit, pink = placer deposit). Paved highways (black/white dashes), major gravel roads (red dashes), Alaska pipeline (dark grey line), and major faults (fine black lines) are also shown. Gold production numbers are sourced from the Alaska Division of Geological and Geophysical Surveys (“DGGS”).VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces that it has sold its Treasure Creek, Ester Dome, and Liberty Bell projects (“Projects”) to Alaska-domiciled subsidiary companies of Felix Gold Ltd. (Australia) (“Felix Gold”) for a future share payment, US$210,000 in cash, and retained royalties. Felix Gold will have the right to secure 100% ownership in the projects in accordance with the underlying option agreements. Felix Gold is planning to undertake an initial public offering (“IPO”) and listing on the Australian Securities Exchange (“ASX”) in 2021. Upon successful listing and ASX approval, Millrock will vest with a circa 10% share ownership of Felix Gold (dependent on the final capital raising amount).Each of the three projects is subject to a production royalty in favour of Millrock: * Treasure Creek 2.0% Net Smelter Returns (“NSR”); * Ester Dome 1.5% NSR; and * Liberty Bell 2.0% NSR. Each of the royalties has an initial Advanced Minimum (“AMR”) payment of US$50,000 per year that is triggered when certain milestones are met. The AMR payments increase by US$50,000 each year. AMR payments made to Millrock are deductible from future production royalty payments.Additionally, two company’s technical teams will work together under a Strategic Alliance agreement to generate further projects in the Fairbanks Gold District. Felix Gold will contribute a minimum of US$250,000 annually for this work and future property acquisitions. Mineral rights acquired under strategic alliance efforts will be subject to a 1.0% NSR production royalty in favour of Millrock. Felix Gold will be engaging Millrock through a Services Agreement to provide staff, infrastructure and equipment.Millrock President & CEO Gregory Beischer commented, “We are very pleased with this development. Millrock envisions a systematic, concerted, and sustained exploration effort in the Fairbanks Gold District with numerous drilling programs in the years to come. The Fairbanks Gold District offers promising chances for new gold deposit discovery success and rewards for our shareholders. The new company, Felix Gold, of which Millrock will become a significant shareholder, is named after Felix Pedroni, the prospector credited with the initial discovery of gold in Fairbanks in 1902. We look forward to our collaboration with Felix Gold and making new gold discoveries in this resurging, under-explored gold camp.”The Fairbanks Gold District is located in the prolific Tintina Gold Province (Figure 1), which spans Alaska and Yukon. Millions of ounces of alluvial gold has been produced since gold was first discovered near the turn of the prior century. The most prominent lode gold deposit so far discovered in this area is the Fort Knox Mine operated by Kinross Gold Corp. Fort Knox has so far produced in excess of eight million ounces of gold and has substantial resources for future production (source: Kinross Gold Corporation website)Figure 1.  https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b9beb6-df6c-4862-b958-38ce2362c57aMillrock’s Fairbanks Gold District claim holdings, some of which were acquired by staking and others under option from other companies, are shown on the following map (Figure 2). All claims and option rights are being conveyed or assigned to Felix Gold under the new agreement, subject to approval by certain underlying owners.Figure 2. https://www.globenewswire.com/NewsRoom/AttachmentNg/6c514c0d-86a0-4743-a10e-18b263080696The Treasure Creek project is located approximately 20 kilometers west of the Fort Knox Mine. Geological conditions at Treasure Creek are similar to those at Fort Knox, and there are numerous prospects with interesting drill intersections reported by prior workers. Felix Gold and Millrock are laying plans to begin drilling at the project in spring 2021.The Ester Dome Project The Ester Dome project is located on the western bounds of the City of Fairbanks. Alluvial gold has been produced on the flanks of Ester Dome (a prominent topographic high) for over a century and continues to this day. DGGS reports that at least three million ounces of gold have been produced. Numerous lode prospects have been discovered on Ester Dome, including on claims that are held directly by or under option by Millrock. These claims are being transferred to Felix Gold.The Liberty Bell Project The Liberty Bell project is located approximately 115 kilometers southwest of Fairbanks. Intrusion-related gold deposits are targeted. Extensive soil anomalies are present in areas of shallow overburden. Thick gravels obscure bedrock in other area that have interesting geophysical signatures. Rotary air-blast drilling is planned to test beneath the gravel blanket in summer 2021.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. as well as a 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, and now Felix Gold.ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations (604) 638-3164 (877) 217-8978 (toll-free)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 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.

  • Millrock Provides Year-End Operations Update, 64North Gold Project, Alaska
    GlobeNewswire

    Millrock Provides Year-End Operations Update, 64North Gold Project, Alaska

    Figure 1 Millrock / Resolution claims shown in blue Figure 2 Aurora, Echo, Reflection and AT Prospects - West Pogo Block, 64North Project AlaskaVANCOUVER, British Columbia, Dec. 13, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”), along with partner Resolution Mineral Inc. (ASX: RML “Resolution”), has completed field exploration activities for the year at the 64North project. The project targets large-scale gold deposits in the Goodpaster District. The claims comprising the property are adjacent to the Pogo Mine, a multi-million ounce gold mine operated by Northern Star Resources. Millrock President & CEO Gregory Beischer commented, “We are pleased to have been able to execute this exploration program despite the additional risk and challenge posed by COVID. A strong initial drill test of the West Pogo prospects was completed, and new drill targets were defined at other prospects on this district-scale gold project. We look forward to pending assay results and developing exploration plans for 2021.”Highlights for 2020 include:Corporate Matters: * Resolution has timely expended in excess of US$5.0 million on project exploration and has indicated its intention to pay US$50,000 and issue 10 million Resolution shares to Millrock, thereby completing an initial 30% earn-in interest in the 64North Project. West Pogo Block: * This block is located immediately west of Northern Star’s Pogo Mine, and the Goodpaster deposit that is now being delineated by Northern Star. CSAMT geophysical surveys carried out by Millrock in 2019 identified shallow-dipping conductive zones that potentially represented gold-bearing quartz veins and surrounding alteration zones. * High resolution airborne magnetic and ZTEM geophysical survey data was collected and used to refine drill targets. Figure 1. Millrock / Resolution claims shown in blue. https://www.globenewswire.com/NewsRoom/AttachmentNg/b0682c17-2d29-42be-a8c9-52c3dd1365da * Road access to the Aurora target area was completed to allow year-round operations. * Nine core holes totaling 4,778 meters were drilled at the West Pogo block adjacent to the Pogo Mine property and on strike from Pogo’s Goodpaster deposit (Aurora, Reflection, and Echo targets). * Drilling intersected a vein system; assays from mineralized zones intersected in the last two drill holes are expected in early January. * 137 meters of road cut and trench sampling was completed at the AT prospect on the West Pogo block; complete results are expected in January and will be evaluated. Figure 2. Aurora, Echo, Reflection and AT Prospects - West Pogo Block, 64North Project Alaska. https://www.globenewswire.com/NewsRoom/AttachmentNg/d7a39de3-af1a-49aa-b655-14d9abcd6b77 East Pogo Block: * Previous exploration had identified high grade gold-bearing quartz veins at the Boundary target. * Airborne ZTEM, ground based CSAMT surveys, mapping, prospecting, and geochemical sampling was completed at the Boundary target on the East Pogo block; a strong target for planned 2021 drilling was delineated. * The claim block was extended eastward to cover interesting geophysical features. Eagle Block: * Prior exploration by others had identified intrusion-hosted disseminated gold mineralization; there is demonstrated potential for deposits of similar nature to the Fort Knox Mine located near Fairbanks, Alaska. * High resolution airborne magnetic surveys were carried out and used to develop exploration plans. * A 22-kilometer access trail was constructed leading south from the Pogo Mine road. * Four trenches, each about 200 meters in length, were excavated to expose bedrock and continuous rock samples collected; assays are expected late January 2021. Drilling plans for 2021 will be contingent upon results. North Pogo Block: * The north Pogo block is on the opposite side of the Goodpaster Batholith and may represent a mirror-image to the Pogo trend that has seen almost no prior exploration. * Prospecting with stream sediment, rock, and soil sampling was carried out in the vicinity of an interesting airborne magnetic anomaly adjacent to a mapped low-angle fault; results have been received and are being evaluated. Divide Block: * Prior explorers had intersected high-grade gold with core drilling within a large multi-element soil anomaly rich in copper. The gold veins intersected are surrounded by copper-bearing rocks possibly indicative of a porphyry copper deposit. * Stream sediment, soil, and rock sampling was done by Millrock to extend the anomalous zone eastward. The program results will be evaluated in January 2021. Exploration at 64North is being done in a collaborative manner between technical teams from Millrock and earn-in funding partner Resolution. Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 was US$5.0 million which Resolution has met.Upon issuance of 10 million Resolution shares and payment of US$50,000 Resolution will vest with an initial 30% ownership in the project. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. 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 has a 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, and PolarX.ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEOFOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations (604) 638-3164 (877) 217-8978 (toll-free)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 in 2021 and the completion of the initial earn-in stage by Resolution. 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.