Fortymile

Status: Available for Option

Forty Mile Fact Sheet (2.2MB)

Target: Forty Mile is a historic mining district where over 300,000 ounces of placer gold is spatially related to porphyritic intrusive dikes and sills and most hard rock occurrences to date consist of quartz and calcite veins with various combinations of arsenopyrite, chalcopyrite, stibnite and other sulfide mineralization. These associations are similar to intrusive related gold mineralization elsewhere in Alaska, Yukon and Nevada, and could lead to the discovery of deposits similar to Donlin Creek, Fort Knox, Pogo and Brewery Creek.

Location and Setting: Millrock holds three claim blocks (see table below) in the historic Forty Mile mining district, one of the oldest in Alaska. The claim groups are near the towns of Chicken and Boundary, which are on the Taylor Highway, approximately 100 km northeast of Tok, Alaska. The Taylor Highway links the towns of Tok, Alaska and Dawson, Yukon. An extensive network of roads and trails links the properties to the highway system.

Agreement or Terms: Millrock owns 100% of the State mining claims that make up the Forty Mile property package. Alaska State mining claims require annual rental payments of $100 per 160 acre claim and a 10% net proceeds tax on production. Two of the claim groups, Chicken and Steele Dome, have claim in-holdings and deals with property owners may need to be arranged prior to any development of the Forty Mile land packages.

Geology and Mineralization: The Forty Mile district is entirely within the Yukon-Tanana Upland, an area that is considered to be within the “Golden Arch” of large gold deposits spanning from British Columbia to southwest Alaska. Young sediments, including coal, are underlain by metamorphic and igneous rocks in the Forty Mile area. The metamorphic rocks are the oldest and most abundant rock type in the area and their age is dated from upper Paleozoic to Devonian with several units known to be Pre-Mississippian of unspecified age. These metamorphic rocks were primarily sedimentary rocks with some igneous rocks within the sequence. The metamorphic rocks are intruded by felsic-to-intermediate igneous rocks, which are equagranular to porphyritic. Placer deposits are spatially associated with igneous rocks dated at approximately 134 million years as well as 180 years million old. Gold mineralization is most commonly found in quartz and calcite veins and is associated with arsenopyrite, chalcopyrite cinnabar, stibnite and other sulfide mineralization. Mineralization is likely to be sourced from the 134 million old intrusives, so several different intrusive related gold deposits could be discovered in the Forty Mile district.

Exploration Program:
An initial soil sampling program was carried out on the Chicken and Napoleon properties. The Chicken property generated samples up to 3.1 ppm gold over an anomalous area that is 2 kilometers by 1 kilometer and is open to the west, south and east. Additionally, a preliminary stream sediment survey has been completed on Steele Dome and interesting gold arsenic anomalies are present. More stream sediment sampling is planned and detailed surface sampling will better define existing anomalies. Rock sampling, geophysics and drilling will follow up on the surface sampling programs. Exploration will be conducted with several deposit types as the potential targets.

Fortymile Figure 1: Property Map (Enlarge)

Related News Releases:

May 12, 2010
Millrock Provides Corporate Update

February 11, 2008
Millrock Announces Acquisition of Fortymile District Gold Properties and Reconnaissance Sampling