Sold to Arcwest Exploration (formerly Sojourn Exploration) on September 14th, 2018
The targets at the Todd Creek claims include Eskay Creek-type gold and polymetallic VMS, and Au-Cu porphyry deposit types. All three of these deposit types are known to occur in the Golden Triangle district, and there are indications of each on Millrock’s claims. Barrick’s historic Eskay Creek Mine, located about 80 km to the northwest, is reported to have produced nearly 3.5 M oz Au and nearly 180 M oz Ag at an average grade of 55 g/t Au and 2500 g/t Ag (Smith, 2008 *1*). Several prospects on Millrock’s claims have porphyry-style features similar to Seabridge Gold’s KSM Au-Cu deposit, which is located about 45 km to the northwest. KSM is reported to be the world’s largest undeveloped gold project based on mineral reserves. Seabridge’s Preliminary Feasibility Study estimates proven and probable reserves total 38.8 million ounces of gold and 10.2 billion pounds of copper (Seabridge, 2017 *2*). Given the mineral endowment of the district, and the mineralization present on Millrock’s tenures, it is worth exploring to see if another company-making discovery can be made.
Location and Setting
The Todd Creek property is located in northwest British Columbia’s mineral-rich Golden Triangle, Skeena Mining Division of British Columbia, about 30 km northeast of the Town of Stewart. Stewart Hwy 37A, the Stewart powerline, and the historic Goat Mine Road bisect the central portion of the property. There are two potential access routes to the northern portion the property. One is up American Creek, the other would be from the road leading to the Brucejack deposit.
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.