Shaw Project

Status

Available for Option

Target

Low angle and/or high angle vein-hosted and stockwork vein intrusion-hosted mesothermal gold systems related to mid-Cretaceous granitic to dioritic igneous activity.

Location and Setting

The Shaw Project is located 18 kilometers north of the town of Delta Junction and 140 kilometers southeast of Fairbanks. The project lies in the Yukon-Tanana Uplands, characterized by spruce and birch-covered rolling hills. The 80-kilometer Pogo Mine road passes along the west side of the Shaw project and provides year-round access to a portion of the claim block.  Elevations on the project range from 500 m to 1200 m. Treeline is approximately 1000 m in elevation.

Land Status

The Shaw project is comprised of 91 State of Alaska mining claims wholly owned by Millrock Resources, which cover 5,900 hectares along the Shaw Creek trend of gold occurrences.

Geology and Mineralization

The Goodpaster Gold District consists of a Paleozoic, amphibolite grade, metamorphic basement intruded by a mid-Cretaceous granitic to dioritic batholith, and coeval stocks, dikes, and sills. Crustal scale faults, conjugate to the Denali and Tintina fault systems, bound the Goodpaster Gold District; the Shaw Creek sinistral fault forms the western edge and the Black Mountain sinistral fault system marks the eastern edge of the Goodpaster crustal block.

The Shaw project is located on the western edge of the Goodpaster Gold District, where a series of mineralized gold occurrences define an approximately 32-kilometer northeast-southwest trend along the southeast side of the Shaw Creek fault. These occurrences consist of quartz-sulfide veins with associated silicate and carbonate alteration of the host rock, shear-hosted gold, and intrusive-hosted disseminated gold mineralization. Prospects within the Shaw project contain elevated gold, arsenic, and bismuth surface sample anomaly clusters related to northeast and northwest oriented high angle faults, Cretaceous granitic-dioritic intrusions, and mapped low angle structures.

The Eagle prospect near Shaw Creek Dome is a mid-Cretaceous granite-hosted Intrusive Related Gold occurrence.  Drilling and trenching conducted on the Eagle prospect by previous operators intercepted granodiorite cut by gold-bearing quartz albite calcite sulfide stockwork veins with sericite-chlorite alteration halos.

At the LMS-X prospect, claims surround the low angle thrust fault hosted LMS mesothermal gold resource held by Gold Reserve, Inc. (TSX:GRZ.V). Gold Reserve reports an inferred gold resource of 267,000 ounces (Source: Technical Report on the LMS Gold Project, Goodpaster Mining District, Alaska February 19, 2016;) Millrock cautions readers that this link is provided as a convenience and for information purposes only, and Millrock makes no representation as to the accuracy, completeness or currency of the information appearing at the link or elsewhere on Gold Reserve’s website.  Surface sampling at LMS-X indicates gold in soil geochemical anomalies on trend with the NW-striking shear that hosts the inferred resources.

Proposed Exploration Program

Millrock would conduct a multi-year exploration program in the Shaw area. The program would leverage Millrock’s proprietary database of surface samples and drill results purchased from previous operators. Desktop targeting studies have been conducted to “mine” the database and integrate geochemical results with project-wide remote sensing data sets (color imagery, DEM, multispectral). Additionally, Millrock would commission a project-wide geophysical data compilation, integration, and interpretation to assimilate the numerous public and private airborne and ground-based survey datasets into the current exploration model. The targets and data gaps identified by desktop activities would be the focus of a multi-year surface sampling and mapping program to bring high confidence targets to drill readiness.

Cautionary Statement: The Company cautions that the mineralization at the Pogo mine or LMS resource area is not necessarily indicative of the mineralization that may be identified on the Millrock properties, and there is no certainty that significant mineralization similar to that found at the Pogo mine or LMS resource area will be identified on the properties.

THE TECHNICAL INFORMATION WITHIN THIS DOCUMENT HAS BEEN REVIEWED AND APPROVED BY GREGORY A. BEISCHER, PRESIDENT & CEO OF MILLROCK RESOURCES INC. MR. BEISCHER IS A QUALIFIED PERSON AS DEFINED IN NI 43-101.