Revelation
Status: Available for Option
Revelation Photo Gallery
Target: The target at Revelation is an intrusive-related gold deposit. Millrock was drawn to this area by a large, regional USGS stream sediment anomaly and favorable geology.
Location and Setting: The Revelation property is located in the Rainy Pass district about 200 km northwest of Anchorage. The property comprises 36 claims covering 2,331 ha.
Agreement or terms: Millrock owns a 100% interest in the Revelation claims. Proprietary exploration data was purchased by Millrock from geologist Gerald Booth. The purchase agreement calls for payments of US$45,000 made over four years and the issue of 40,000 Millrock shares (provided the claims are held for those four years). In the event that an ore body is discovered, a payment of US$2,000,000 will be made to Mr. Booth within 30 days of the commencement of commercial production. The property is available for earn-in option to joint venture agreement.
Geology and Mineralization: The claims are located in the Kahiltna Terrane, a geologic assemblage that hosts the Pebble copper-gold-molybdenum-silver deposit, the Donlin Creek gold deposit, and the Whistler copper-gold deposit. Donlin Creek is jointly owned by NovaGold Resources Inc. and Barrick Gold Corporation which have reported from their website a resource of 39 million ounces of gold; the Pebble deposit, a joint venture of Northern Dynasty Minerals Ltd. and Anglo American plc, contains 81 billion pounds of copper, 107 million ounces of gold and 5.6 billion pounds of molybdenum, according to their website; the Whistler deposit is owned by Kiska Minerals Corporation which reports from its website a resource of over 5 million ounces of gold equivalent.
This portion of the Kahiltna Terrane has potential for porphyry copper-gold deposits and intrusive-related gold deposits. Soil samples collected on the slopes in the claim area are strongly anomalous in gold over a 600 m (2,000 ft.) length. A large iron-stained zone hosts a variety of intrusive rocks, including porphyritic diorite and hornfelsed sedimentary rocks. Strong quartz stockwork veining was noted in many of the exposed rocks, and sulfide mineralization occurs over the anomalous zone. Based on geochemical patterns created by the soil sampling results, Millrock geologists expect that the mineralized zone likely extends beneath the glacier which has been steadily retreating. The anomaly is open upslope. Additional sampling is necessary to determine the limits of mineralization up the valley, and on the opposite side of the ridge behind the anomaly.
The results of Millrock's recent exploration work on the Revelation property, as well as the significant geochemical stream anomalies in the area, establish the potential for discovery of a large-scale gold deposit in this location.
Exploration Program: The 2011 Revelation exploration program is planned to consist of additional mapping and sampling to determine the extent of the mineralization and alteration system.
Related News Releases:
May 12, 2010
Millrock Provides Corporate Update
January 22, 2010
Millrock Stakes the Revelation Project in the Kahiltna Terrane, Alaska
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