2015 – Opportunities Abound
- Millrock continues to see tremendous opportunities in the troubled markets and takes advantage of it, adding a total of 12 new properties in 2015. This consists of three properties in Alaska, six in Mexico and three in BC.
- Millrock ends the year with 31 active exploration projects: nine gold, copper and zinc properties in Alaska, three gold / polymetallic projects in British Columbia, a uranium project in New Mexico, and 18 gold, silver and copper projects in Mexico.
- In March, Millrock forms a collaboration agreement with a major gold mining company to explore for gold deposits in Alaska. The collaboration leads to acquisition of the West Pogo property from Raven Gold, as well as an extensive, proprietary database of geological information.
- In July, Millrock enters an option to joint venture agreement with First Quantum Minerals and completes a $2.0M, First Quantum funded drill program on the property.
- In September, Millrock enters an option to purchase the former producing Apex El Nido Gold Mine in Alaska. Shortly after, Millrock announces it has also entered an option to purchase the Liberty Bell Gold-Copper project in Alaska.
- Taking advantage of the Mexican “Libertades” in November, Millrock announces it has acquired five new gold and copper projects in the Sonora distract of Mexico.
- Millrock announces a $700K private placement. The original placement is over subscribed and Millrock increases and closes it at $1.3M – finishing the year with $2.5M in the bank.
- In December, Millrock announces it has made a significant move into Stewart’s Golden Triangle District, British Columbia. Millrock simultaneously executes on 8 deals giving itself a significant toe hold in one of the the premier exploration districts in the world. Shortly after, Millrock announces that it has entered an option to joint venture agreement with Vista Minerals on it’s Stellar property.
2014 – Forging Ahead
- Millrock takes advantage of the opportunities the troubled markets present, adding 13 new projects to its portfolio. Includes one Alaska-based project (Lisburne, zinc), one New Mexico-based project (Red Basin, uranium) and 11 Mexico-based projects. Total properties now equals 22 consisting of 8 in Alaska, 2 in Arizona, 11 in Mexico and 1 in New Mexico.
- Millrock signs a letter of intent with First Quantum on its Alaska Peninsula project. After completing a two-phase field program, Millrock and First Quantum enter into an Option-to-Joint-Venture Agreement on the project, leading to drilling in 2015.
- Millrock acquires Mexican exploration company Pembrook Mexico Holdings, adding eleven high-potential projects at low cost, as well as their geological database and technical team.
- Millrock signs a letter of intent on its Rio Sonora project in Mexico. This marks the first Mexican project Millrock partners – just 4.5 months after acquiring Pembrook Mexico.
- Millrock closes a $4.04M private placement and consolidates the stock on a 10-to-1 basis. The company finishes the year with $3.5M in the bank.
- Exploration expenditures total: $1.5M
- Exploration cash recoveries total: $982K
- By the end of 2014, Millrock has recovered 86% of all funds spent on exploration by utilizing the Project Generator model.
2013 – Weathering The Storm
- Millrock adds one Alaska-based project (Alaska Peninsula, copper-gold) to its project portfolio while removing a number of less substantial projects; total properties equals 8 consisting of 7 in Alaska and 1 in Arizona.
- Millrock enters into an exploration and option-to-lease agreement with the Bristol Bay Native Corporation for the Alaska Peninsula project, giving it access to a very large, highly prospective land package that has barely been explored.
- Drilling is completed at two of Millrock’s properties including a 1,165M drill program on its Dry Mountain project funded by First Quantum Minerals Ltd, and a second drill program, including seismic geophysical surveying on its Monsoon project, AZ, also funded by First Quantum.
- Millrock grants Right-of-First-Refusal to a major mining company on its Stellar copper-gold project in Alaska.
- Millrock closes a $450K private placement and finishes the year with $1.6M cash-on hand.Exploration expenditures total: $2.4M
- Exploration cash recoveries total: $1.6M
- By the end of 2013, Millrock has recovered 87% of all funds spent on exploration by utilizing the Project Generation model.
2012 – Strengthening the Project Generator Model
- Millrock adds one Alaska-based project to its project portfolio; total properties equal 19.
- Option-to-joint ventures are formed with existing partners Inmet on the Monsoon project in Arizona and Vale on the AUDN project in Alaska.
- A joint venture is formed with Teck on the Estelle property in Alaska
- Drilling is completed at five of Millrock’s projects including Estelle, Council, Humble, San Jose & Galiuro.
- Millrock closes a $2.2M private placement and finishes the year with $4.0M cash-on-hand.
- Exploration expenditures total: $9.1M
- Exploration cash recoveries total: $8.6M
- By the end of 2012, Millrock has recovered 87% of all funds spent on exploration by utilizing the Project Generation model.
2011 – Project Generator Business Model Pays Off in Drilling Budgets
- Millrock adds 6 additional properties to its portfolio; total properties equal 18
- A Strategic Alliance is formed with Vale, in which Vale provides Millrock funding for early-stage exploration in Alaska to generate copper porphyry projects
- Exploration drilling is completed at six of Millrock’s projects including Alaska’s Humble, Estelle and Uncle Sam and Arizona’s Galiuro, San Jose, and Dry Mountain.
- Millrock restructures management for growth appointing a Chief Exploration Officer, a Chief Operating Officer, and a new Chief Financial Officer.
- Board of Directors is expanded by three members; Board of Directors totals seven.
- Exploration expenditures total: $13.4M
- Exploration cash recoveries total: $13.6M
- By the end of 2011, Millrock has recovered 86% of all funds spent on exploration by utilizing the Project Generation model.
2010 – Building Relationships Through Option-to-Joint Ventures
- Millrock adds three additional properties to its project portfolio and merges St. Eugene and Monte Cristo into one; total properties equals 12
- Option-to-joint ventures are formed with five additional partners on six properties. Additional partners include Inmet, Teck, Ryan Gold, Crescent Resources, and Brixton Metals
- Total partners equal eight
- Millrock completes significant drilling and exploration on Galiuro, Council and Bluff
- Exploration expenditures total: $7.2M
- Exploration cash recoveries total: $8.0M
2009 – A Project Generator Is Born
- Millrock adds three additional properties to its project portfolio and drops two; total properties equals ten
- Millrock begins following the Project Generation model, forming option-to-joint ventures with Vale and Kinross
- Millrock forms a strategic alliance with Altius to fund exploration development in five areas of interest in Alaska
- Kinross and Altius both make significant investments into Millrock
- Exploration expenditures total: $2.2M
- Exploration cash recoveries total: $1.3M
2008 – Building the Portfolio
- Millrock adds eight properties to its project portfolio and drops one; total properties equals nine
- Drilling is completed on two projects: Divide and Bluff.
- Exploration expenditures total: $3.8M
- Exploration cash recoveries total: $640K
2007 – The Inception of Millrock Resources
- Millrock Resources is formed and develops the core management team
- Two properties are optioned by Millrock: Inmachuk and Divide
- Millrock completes its first drilling on Inmachuk
- Exploration expenditures total: $989K
- Exploration cash recoveries total: $90K