Sold to Arcwest Exploration (formerly Sojourn Exploration) on September 14th, 2018
The Oweegee Dome Property was the focus of a large, hydrothermal mineralizing system that entails a number of genetically related target types: Au-Cu porphyry (KSM type), VMS Au-Ag-Cu-Au-Zn (Eskay Creek type), and stratabound Ag-Zn-Pb-Cu (VMS type). Seabridge Gold’s KSM Au-Cu porphyry deposit has total proven and probable reserves of 38.2 million oz. gold and 9.9 billion lb. Barrick’s historic Eskay Creek Mine produced >3 million oz Au and 160 million oz Ag at an average grade of 48.4 g/t Au and 2221 g/t Ag. Epithermal Au mineralization is often associated with Au-Cu porphyry deposits in the Golden Triangle; for example, Pretium Resources’ Brucejack epithermal deposit has proven and probable reserves of 6.9 million oz. gold.
Location and Setting
The Oweegee Dome Property is located in northwest British Columbia’s mineral-rich Golden Triangle, approximately 74 km northeast of the town of Stewart, which boasts a year-round, ice-free port. The Stewart–Cassiar Highway 37 passes through the western Tenures. In addition, the 344 km long, 287 kv Northwest Transmission Line passes through the Property and five access roads provide entry to the stratabound zinc targets on the Delta West Grid. The principal exploration target, the Deltaic Grid, is located only 5 km east of the transmission line.
Millrock sold the property to Arcwest Exploration Inc., (TSX-V: AWX) ("Arcwest") and now owns 9,623,417 Arcwest shares, representing a 16.1% interest in the company.
Millrock holds a 2% (1.5% on certain portions) royalty, buyable down to 1% for $1 million, on the project.
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.
THE INFORMATION IN THIS SUMMARY HAS BEEN DERIVED FROM A NI-43-101 REPORT THAT WAS PREPARED BY SOJOURN AND HAS BEEN SUBMITTED TO THE TSX-V. A COPY OF THE REPORT CAN BE FOUND AT THIS LINK.