Millrock Commences Drilling on Alaska Peninsula Copper-Gold Exploration
Published By : 16 Jul 2015 | Published By : QYRESEARCH
Millrock Resources Inc. (MRO) has announced commencement of the Alaska Peninsula copper-gold exploration. The program is being managed by Millrock and is funded by First Quantum Minerals Ltd. (FQM). As per the terms of the project, FQM can earn up to 80% interest in the drilling project by funding the exploration.
For funding the project, FQM has authorized a budget of US$2.0 million for 2015. The drilling program consists of approximately eight holes, which will be approximately totaling 2,400 m has been planned.
The two areas that are under consideration for testing are MDB prospect and Dry Creek prospect. At both the locations, mineralization of porphyry type copper-gold is the aim of the exploration. Airborne and surface surveys that were conducted by FQM and Millrock in 2014 identified and defined zoned rock changes and metallic mineral distribution features to be typical of this type of deposit.
The project located on Alaska Peninsula in southwest Alaska, covers an area of 203,000 hectares. The drilling of the project will be carried on surface lands which is owned by Chignik Lagoon Native Corporation and Far West Inc., the two native corporations of Alaska which has made surface agreements with Millrock.
Bristol Bay Native Corporation (BBNC) owns surface rights and subsurface mineral rights at few locations. Millrock also has an exploration agreement according to which there is an option to lease mineral rights from BBNC.
A summary of the project can be given as: The technical information for the document is reviewed and approved by the President & CEO of Millrock, Gregory A. Beischer. Mr. Beischer is pronounced as a qualified person as given in NI-43-101.
Millrock Resources Inc. is a leading project generator in the mining industry.