Galiuro
Status: Joint Venture
 Galiuro Photo Gallery
 Galiuro Fact Sheet (9.3MB)
Galiuro Photo Gallery (1.0MB)
Target: The target at the Galiuro project is giant, high-grade porphyry copper (+/- gold and molybdenum) deposits. The project is located 80 kilometers southeast of the Resolution deposit, which is currently being drilled off by Rio Tinto, and is reported to contain one to two billion tons of potential ore grading between 1% and 2 % copper. Geological evidence of a large scale mineralizing system has been documented at the Galiuro project which is located on the San Manual - Copper Creek porphyry copper trend. Most of the claim block is covered by post porphyry copper mineralization age volcanic rocks but projections of alteration, mineralization and structural trends from known mineralization along this trend define the Galiuro area as prospective for porphyry copper mineralization. Tertiary epithermal copper mineralization may be remobilized from and indicative of older porphyry style mineralization hidden beneath the younger volcanic rocks as at Resolution. Millrock and its partner Vale Exploration Canada, seeks to discover a large tonnage, high grade porphyry deposit that may be mined by open pit or block caving underground mining.
Location and Setting: The Galiuro claim block is situated near the San Manuel and Copper Creek porphyry copper districts in southeastern Arizona. It is located 16 kilometers east of Mammoth, and 80 kilometers northeast of Tucson Arizona. Topography is steep and rugged at elevations ranging from 4200 to 5500 feet. Paved highway 77 passes 18 kilometers west of the claim block and access to the edge of the claim block is provided by four wheel drive access. Access on the property itself is limited to hiking.
Property and Agreement: The target was brought to the attention of Millrock by geologist Michael Schaefer of Tucson, Arizona. A core group of federal mining claims was purchased from Schaefer and a much larger property was subsequently secured with federal mining claims and state leases. Under the terms of this agreement, Millrock paid Mr. Schaefer $20,000 and issued 20,000 shares of the company. A further $10,000 and 15,000 shares has been and will be issued on each anniversary that Millrock holds claims in the Area of Interest defined in the purchaes agreement. If commercial production is achieved, Mr. Schaefer will be entitled to a payment of $2 million. The property consists of 212 federal mining claims and two Arizona State prospecting permits covering at total area of 6,309 acres.
Millrock entered an Option to Joint Venture Agreement with Vale Exploration Canada (Vale) in March, 2009. Vale is a subsidiary of the giant Brazilian miner Companhia Vale do Rio Doce. Under the agreement Vale may earn a 60% interest in the property by making exploration expenditures of US$3,500,000 and cash payments totaling US$850,000 by December 31, 2012. Vale also has the option to acquire an additional 10% participating interest in the claims if it completes a favorable feasibility study. Millrock is presently the exploration manager. Vale may assume project management at any time. Once the terms of the option have been met and the option exercised, further expenditures will be funded by the parties pro-rata in accordance with their respective participating interests.
Geology and Mineralization: Galiuro is located along the San Manuel Copper Creek porphyry copper trend just east of Copper Creek. The trend is defined by known mineralization at San Manual-Kalamazoo and Copper Creek copper deposits west of Galiuro, and alteration and mineralization at Four Mile creek east of Galiuro. Magnetic data defines magnetic high intrusive complexes at depth along the trend including at Galiuro.
The Galiuro property is covered by post mineralization age volcanic rocks, however, altered and mineralized outcrops of pre mineralization age rocks along the San Manuel trend bound the property on the west (Copper Creek porphyry copper) and one mile to the east (Four Mile Creek exploration property). Tertiary aged epithermal copper mineralization along deep seated structures within the volcanic rock may be copper leakage/remobilization from older Laramide aged porphyry mineralization at depth.
Exploration Program: Millrock and Vale carried out detailed geological mapping in spring 2008. The work demonstrated that the Tertiary volcanic cover is, at least in places, quite thin. An airborne ZTEM and magnetic survey was also done. Results helped image geological relationships below surface and identified conductive zones locally. The conductive targets will be further refined using a ground-based MT geophysical survey in 2010. Pending receipt and interpretation of the results, a drilling program will be planned for fall 2010.
Related News Releases:
May 12, 2010
Millrock Provides Corporate Update
April 16, 2009
Millrock and Vale Exploration Canada Inc., Working at Galiuro Copper-Gold Project, Arizona
March 3, 2009
Millrock Announces Agreement with Vale Exploration Canada Inc., Galiuro Copper-Gold Project, Arizona
May 20, 2008
Millrock Announces Claim Staking of the Galiuro Porphyry Prospect in the San Manuel Copper District
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