Millrock Reports Resumption of Drilling and Geophysical Surveys, Aurora Target, West Pogo Block, 64North Gold Project, Alaska
The drilling program suspended in March 2020 due to COVID-19 concerns has been resumed.The planned program of 2,300 meters will continue through June and July with results to be released upon completion.Hole 20AU003 has been collared and is in progress to test gently northwest-dipping structures detected by CSAMT geophysical surveys in a low magnetic area.An airborne magnetic ZTEM – MAG survey is to be conducted over the Aurora and Echo Targets and the neighbouring Goodpaster gold deposit.Detailed airborne magnetic surveys will be flown in a collaborative effort with the State of Alaska Division of Geological and Geophysical Surveys.VANCOUVER, British Columbia, June 15, 2020 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to provide an update on drilling at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has resumed at the Aurora Target, continuing the program started in March, 2020. The approximate hole locations are shown in Figure 1.The target being drilled at the Aurora Target is adjacent and immediately west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property.Millrock President & CEO commented: “We are pleased to be drilling again to further test the Aurora Target, which lies immediately southwest of the Goodpaster gold deposit discovered by our neighbours, Northern Star Resources. We will continue the systematic exploration of the favorable geophysical and structural/stratigraphic targets that comprise the Aurora Target area. Also, the planned airborne ZTEM and magnetic survey will be a great test. If successful in replicating results obtained by ground-based methods, this airborne method will result in significant cost savings to test other areas of the project.”Figure 01 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3efd3a9-fbe2-4e5a-83b8-6598001b91ad.
Aurora Target Overview
The Aurora Target is a two-kilometer by five-kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the nearby Pogo Mine. Millrock postulates that the late diorite body 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, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora Target.