Sold to Arcwest Exploration (formerly Sojourn Exploration) on September 14th, 2018
Willoughby is a high grade Au-Ag prospect with characteristics of the intrusion-related ore deposit model and some similarities to both the nearby Red Mountain deposit (1,641,600 Mt @ 8.36 g Au/t, 26 g Ag/t Measured & Indicated, Arseneau, 20161); and to the historic Silbak-Premier Gold Mine (produced 56,000 kg Au (1.8Moz), 1,281,400 kg Ag (41.2Moz), 1918-1976).
1Arseneau, G., 2017, Mineral Resource Update for the Red Mountain Gold Project, Northwestern BC, Canada; for IDM Mining Ltd., p. 128.
Location and Setting
The Willoughby property is located in northwest British Columbia’s mineral-rich Golden Triangle, Skeena Mining Division of British Columbia, about 26 km east of the Town of Stewart. The Red Mountain Au-Ag deposit being developed by IDM Mining is located about 7 km to the west across the Cambria Icefield. Highway 37A and the Stewart power line are located about 14 km to the north.
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% 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.