Millrock samples 22.9 m of 1.0 g/t Au at Estelle
Ticker Symbol: C:MRO
Millrock samples 22.9 m of 1.0 g/t Au at Estelle
Millrock Resources Inc (C:MRO)
Shares Issued 33,854,379
Last Close 12/2/2009 $0.19
Thursday December 03 2009 - News Release
Mr. Gregory Beischer reports
MILLROCK REPORTS CHIP SAMPLING RESULTS FROM ESTELLE PROJECT, ALASKA
Millrock Resources Inc. has released results of its summer 2009 sampling program at its Estelle property. The company is targeting bulk-tonnage intrusive-related gold deposits at the project located 160 kilometres northwest of Anchorage, Alaska.
In 2008 Millrock outlined two large zones highly anomalous in gold by sampling talus fines along mountain slopes at the Estelle property. At the Shoeshine occurrence, a gold-arsenic anomaly over one kilometre in length was defined. Within the anomaly, talus boulders exhibiting stockwork and breccia style mineralization were found to contain gold in amounts ranging from 1.0 to 5.0 g/t gold. Similar anomalous conditions and mineralization in talus were discovered at the Oxide Ridge occurrence 25 kilometres to the north (see Millrock November 13, 2008 press release).
Prospecting and sampling in July 2009 resulted in the discovery of porphyry-style gold mineralization in bedrock at both the Shoeshine and Oxide Ridge occurrences. Subsequently, chip sampling was done across portions of the mineralized zones.
At Shoeshine, a zone of porphyry-style gold mineralization, made up of stockwork veining, and pervasive alteration, is partially exposed on a steep slope. Chip sampling across the exposed portion of the zone averaged 1.2 g/t over 12.1 metres. A nearby zone of sheeted quartz veinlets was chip sampled in two separate locations 30 metres apart. At the first location the zone grades 11.7 g/t over 1.5 metres and at the second location the grade is 9.9 g/t over 1.5 metres. The mineralization occurs in a highly altered granite. Pathfinder elements show a clear zonation pattern with a base metal halo surrounding the area of strongest gold mineralization discovered so far.
At Oxide Ridge, multiple zones of mineralization were located in bedrock. Chip sampling done across one of the zones returned assay results averaging 1.0 g/t over 22.86 metres. The zones appear to be structurally controlled and consist of quartz stockwork with arsenopyrite.
"These results are encouraging," stated VP of Exploration Philip St. George. "We have observed a porphyry geochemical pattern centered on porphyry-style alteration and mineralization. Gold values exceeding one gram per tonne over significant lengths have been defined by chip samples in bedrock. The surrounding soil anomalies indicate a large mineralizing system in what is interpreted as the upper portions of a gold porphyry system. An aggressive drilling program is warranted."
Results of the 2009 chip sampling program exceeding 0.5 g/t are shown in an attached table.
2009 CHIP SAMPLING PROGRAM RESULTS
Prospect Traverse Length (m) Au (g/t)
Shoeshine SSA 10.7 0.8
Shoeshine SSB 12.2 0.6
Shoeshine SSC 12.2 0.6
Shoeshine SSD 22.9 0.8
Including 1.5 9.4
Shoeshine SSE 12.2 1.2
Shoeshine SSF 27.4 0.6
Including 3.0 3.4
Shoeshine SSG 1.5 11.7
Shoeshine SSH 1.5 9.9
Oxide Ridge ORA 22.9 1.0
Oxide Ridge ORB 27.4 0.6
The style, age and geological setting of the Estelle mineralization appears similar to that of Donlin Creek, a western Alaska gold deposit estimated to contain (according to a NovaGold press release dated April 28, 2009) proven and probable reserves of 29.3 million ounces of gold and an additional 10 million ounces of gold resources of various categories. A summary description of the Estelle project can be viewed at http://millrockresources.com/index.php/projects/estelle/.
The exploration work reported in this press release was supervised by Gregory Beischer the Company's President and Chief Executive Officer and a Qualified Person as defined by NI 43-101, who also prepared and approved the information contained in this release. Chip samples, each weighing approximately 2.5 kilograms, were collected and placed in sealed bags and delivered to ALS Chemex in Fairbanks, Alaska for analysis. Gold was analyzed by atomic absorption with a gravimetric finish. The samples were also analyzed for a suite of 41 elements by the ICP-MS method. A sample quality control/quality assurance program was conducted. The Company randomly inserted blank samples and standard samples with known gold content within the submitted chip samples and verified the results obtained. ALS Chemex is an ISO 9001:2000 certified lab, and as such, has its own stringent quality control/quality assurance program.
Some statements in this news release contain forward-looking information,
2009 Canjex Publishing Ltd.