Millrock Announces Positive Drill And Trench Results At Divide Project, Nome Alaska
January 26, 2009
VANCOUVER, BRITISH COLUMBIA, January 26, 2009. Millrock Resources Inc. (MRO - TSX:V) ("Millrock" or the "Company") is pleased to announce results from trenching and drilling at the Divide Project, near Nome, Alaska.
Drill highlights of the program include:
- 15.24 meters grading 3.1 g/t gold in hole DIV3004
- 1.52 meters grading 9.9 g/t gold in hole DIV3019
- 10.67 meters grading 1.2 g/t gold in hole DIV3002
- 6.10 meters grading 1.8 g/t gold in hole DIV3012
Trench highlights include:
- 22.86 meters grading 2.2 g/t gold in trench DIV2016T
- 16.76 meters grading 1.5 g/t gold in trench DIV2008T
- 15.24 meters grading 1.1 g/t gold in trench DIV2012T
"We are pleased with the outcome of the Divide 2008 exploration program. The results indicate the presence of minable grades of gold over the entire strike length of drilling for more than 1.4 kilometers," commented Gregory Beischer, Millrock President & CEO. "Encouraging near-surface intersections of gold mineralization were realized in 18 of the 21 short holes drilled and in 19 of the 21 trenches excavated. The drill and trench results are helping our geologists hone in on areas where resources can be defined with additional drilling. We will plan an aggressive exploration program for 2009 in which we will test for continuity between these drill intersections, at depth and along strike."
The Divide 2008 exploration program, consisted of geological mapping, drilling of twenty-two reverse circulation holes totaling 2,656.3 meters and excavation of twenty-four trenches totaling 1,243.6 meters. The drilling and trenching successfully tested a previously identified, strong gold - arsenic soil anomaly that measures over 2,600 meters long and 660 meters wide. Geological mapping identified a strong east-west structural trend with veining that is interpreted to control thicker, higher grade zones. Future work on the Divide claims will be greatly aided by the overall results of the 2008 exploration program.
The following table summarizes most of the mineralized intersections identified during the Divide 2008 drilling program using a cutoff grade of 0.5 g/t. \
HoleID |
From
(m) |
To
(m) |
Length
(m) |
Au
(g/t) |
DIV3001 |
47.24 |
53.34 |
6.1 |
1 |
DIV3002 |
53.34 |
64.01 |
10.67 |
1.2 |
DIV3003 |
9.14 |
13.72 |
4.57 |
1.4 |
DIV3003 |
91.44 |
99.06 |
7.62 |
1 |
DIV3004 |
67.06 |
82.3 |
15.24 |
3.1 |
including |
70.1 |
73.15 |
3.05 |
11.8 |
DIV3005 |
111.25 |
114.3 |
3.05 |
1.1 |
DIV3006 |
18.29 |
19.81 |
1.52 |
2.5 |
DIV3009 |
19.81 |
27.43 |
7.62 |
1.4 |
DIV3009 |
76.2 |
77.72 |
1.52 |
3.8 |
DIV3012 |
7.62 |
13.72 |
6.1 |
1.8 |
including |
7.62 |
9.14 |
1.52 |
5.9 |
DIV3012 |
73.15 |
80.77 |
7.62 |
1.4 |
DIV3017 |
59.44 |
64.01 |
4.57 |
1.3 |
DIV3018 |
9.14 |
13.72 |
4.57 |
0.8 |
DIV3019 |
97.54 |
99.06 |
1.52 |
9.9 |
The following table summarizes most of the mineralized intersections identified during the Divide 2008 trenching program using a cutoff grade of 0.5 g/t.
HoleID |
From
(m) |
To
(m) |
Length
(m) |
Au
(g/t) |
DIV2002T |
38.1 |
39.62 |
1.52 |
2.1 |
DIV2003T |
15.24 |
16.76 |
1.52 |
3.3 |
DIV2005T |
1.52 |
3.05 |
1.52 |
2.2 |
DIV2006T |
7.62 |
9.14 |
1.52 |
5.3 |
DIV2007T |
35.05 |
41.15 |
6.1 |
1 |
DIV2008T |
4.57 |
7.62 |
3.05 |
1.3 |
DIV2008T |
19.81 |
36.58 |
16.76 |
1.5 |
Including |
22.86 |
27.43 |
4.57 |
2.6 |
DIV2008T |
42.67 |
44.2 |
1.52 |
5.2 |
DIV2009T |
7.62 |
9.14 |
1.52 |
3.2 |
DIV2010T |
24.38 |
32 |
7.62 |
1.3 |
DIV2012T |
18.29 |
33.53 |
15.24 |
1.1 |
DIV2014T |
13.72 |
15.24 |
1.52 |
3.9 |
DIV2016T |
3.05 |
10.67 |
7.62 |
1.6 |
DIV2016T |
13.72 |
36.58 |
22.86 |
2.2 |
DIV2017T |
36.58 |
39.62 |
3.05 |
1.5 |
| DIV2018T |
13.72 |
16.76 |
3.05 |
1.1 |
| DIV2018T |
19.81 |
22.86 |
3.05 |
1.4 |
| DIV2020T |
10.67 |
12.19 |
1.52 |
2.1 |
All holes were drilled at an angle of -65°. Most intercepts are thought to be through near vertical veins, so true thickness on the veins would be approximately 40% of the drill length. Trench intercepts are thought to be very close to true thickness with the exception of some minor low-angle veins found in trenches 2010T, 2013T and 2014T and a significant low-angle structure identified in 2016T.
The Divide Property is located in the prolific Cape Nome mining district about 45 kilometers north of Nome, Alaska. Access to the property is via the Nome-Taylor Highway, which crosses the eastern boundary of the 1,424 ha claim block. Millrock is jointly exploring the property with Alix Resources (AIX - TSX:V) and the two companies will each hold a 50% interest once the terms of an underlying option agreement have been met.
The rocks at the Divide Property are underlain by structurally deformed, retrograde greenschist facies metasediments (turbidites and related deep water sediments) and are of late Proterozoic to Paleozoic age. These same types of rocks are the source of the alluvial gold deposits of the Nome camp, where approximately 5 million ounces of gold has been produced by placer mining methods. The Rock Creek Mine, located approximately 33 kilometers to the southwest of the Divide Property, hosts gold mineralization in a similar geological setting and is potentially being developed by NovaGold Resources Inc.
The 2008 exploration program at the Divide Project was supervised by Gregory Beischer the Company’s President and Chief Executive Officer and a Qualified Person as defined by NI 43-101, who also prepared and approved the information contained in this release. Mineralized intervals were sampled and placed in sealed bags and delivered to Alaska Assay Lab in Fairbanks, Alaska for analysis. Each sample was screened for metallics and a 1000-gram aliquot was used for a fire assay. A sample quality control/quality assurance program was conducted and successfully determined the acceptability of the Divide 2008 exploration program results.
About Millrock Resources Inc.
Millrock Resources Inc. is a TSX Venture Exchange listed Company intent upon the discovery of high value mineral deposits, with a focus on Alaska and Arizona. Millrock currently has four active exploration projects in Alaska, and three in Arizona.
ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Patrick De Witt, Manager, Investor Relations
(604) 638-3164
Millrock Resources Inc.
750 World Trade Centre
999 Canada Place
Vancouver, BC V6C 3E1
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE
|
