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VANCOUVER, BC–(Marketwired – August 28, 2017) – Millrock Resources Inc. (TSX VENTURE: MRO) (OTCQX: MLRKF) (“Millrock” or “the Company”) is pleased to announce that drilling has commenced at the Stellar Project. The program will focus on the high-grade copper-gold deposit called Zackly. A program consisting of approximately 25 holes totaling 3,000 meters is planned. Two drills have been mobilized to complete the work. Millrock is executing the work on behalf of Coventry Resources (ASX: CYY) (“Coventry”). Millrock recently sold its interest in the Stellar Project for an equity stake in Coventry. The Company presently owns 10.6% of the issued and outstanding Coventry shares.
The drilling program’s primary objective is to bring the historic, high-grade, copper-gold resource at the Zackly skarn deposit to meet the standards of the Australian Joint Ore Reserves Committee (JORC) for mineral resource reporting. To accomplish this objective one drill will be used to drill approximately twelve holes through the known, historic deposit. For a description of the Stellar Project, and the Zackly copper-gold deposit, click here. A second drill will test for extensions of the deposit, both to the east and west, where induced polarization surveys indicate possible additional mineralization.
Coventry also owns the nearby Caribou Dome (“CD”) copper deposit, which is reported by Coventry to have a high-grade resource that is described in this Coventry press release. A description of the CD project can be found at this link. Geological mapping and other surface work is currently in progress at CD.
Baseline environmental studies will also be conducted at both Zackly and CD in anticipation of moving the combined project toward a pre-feasibility study in 2018.
The technical information within this document has been 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 active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. 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: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
Some statements in this news release contain forward-looking information. 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.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
(877) 217-8978 (toll-free)
Mon, 28 Aug 2017 13:00:00 GMT