Millrock and Resolution to Begin Drilling ON Aurora Target, WEST Pogo Block, 64NORTH GOLD Project, Alaska
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
NR: 20-03
MILLROCK AND RESOLUTION TO BEGIN DRILLING
ON AURORA TARGET, WEST POGO BLOCK,
64NORTH GOLD PROJECT, ALASKA
Highlights:
• Camp and drill rig are presently being mobilized to the Aurora target, immediately
to the west of the Pogo Mine, Alaska.
• The first drill phase is planned to begin in early March 2020 with a planned initial
program of 2,000 meters in four holes.
• The drill holes will test area of low magnetic intensity and will pierce conductive zones
thought to represent a regional, low-angle, northwest-dipping shear zone.
• The target shear zone is interpreted to be the same shear zone that hosts the gold
deposits being mined by Northern Star Resources Limited (“Northern Star”) at the
Pogo Mine.
• The shear zone to be drilled by Millrock is directly along strike from the new
Goodpaster gold deposit that was recently reported by Northern Star.
• An overall US$5 million exploration program is planned for 2020; planning for
summer 2020 exploration programs is underway.
VANCOUVER, BRITISH COLUMBIA, March 2, 2020 - Millrock Resources Inc. (TSX-V: MRO,
OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on upcoming
drilling at 64North.
Millrock President & CEO commented: “The proximity to a high-grade mine, and proximity to a
new high-grade gold deposit discovery made by our neighbours just on the other side of our
mutual claim boundary, along with strong geological, geochemical and geophysical anomalies,
make the Aurora target highly compelling.”
64North Gold Project, Goodpaster Mining District, Alaska.
Initial drilling at the Aurora target on the West Pogo Block of the 64North Gold Project is
scheduled to begin in early March 2020. The camp and drill rig are presently being mobilized to
the Aurora target, located to the immediate west of the Pogo Gold Mine operated by Northern
Star. Earn-in partner, Resolution Minerals Ltd., (“Resolution” ASX: RML) is funding the work.
Millrock and Resolution technical teams have collaborated to analyze data and choose the first
targets. The initial drilling phase will consist of four holes totaling 2,000 meters and will test the
Aurora target. The target area is located within sight and approximately 2.5 to 3.5 kilometers
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Drilling at 64North, West Pogo Block,
Aurora Target, Goodpaster District, Alaska
Page 2
west of Northern Star’s Pogo Mine. Northern Star reports an endowment of approximately 10
million ounces of gold at Pogo. More recently Northern Star has reported discovery of the
Goodpaster gold deposit northwest of the mine, even closer to the mutual Millrock – Northern
Star claim boundary and the Aurora target. Millrock cautions that mineralization on the nearby
Northern Star property is not necessarily indicative of gold mineralization hosted on the
Company’s property.
The Aurora target is a 1.5 by 4.0 kilometer long zone of low-magnetic rocks adjacent to a late
diorite intrusion. The setting is very similar to that observed at the Pogo Mine. Millrock
postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault
which is known to have played a key role in the genesis of the Pogo gold deposits. Highly
anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins
have been intersected by prior drilling, however, the few holes drilled by earlier workers did not
go deep enough to intersect the low-angle, regional shear zone that is known to host gold at
Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora target.
From a recent CSAMT survey, the depth to the shear zone is 150 meters on the east and 450
meters depth on the west end of the Aurora target.
Drilling will begin at the east end of the target and is scheduled to be complete by early April. A
second contingent drilling phase in the vicinity of the Half-Ounce-Gulch prospect is tentatively
scheduled for May 2020.
The various attributes of the target and the approximate drill hole locations are shown on the
following compilation map.
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Drilling at 64North, West Pogo Block,
Aurora Target, Goodpaster District, Alaska
Page 3
Figure 1. Location map showing the location of the Pogo Mine gold vein outlines (orange
polygons), Central Lodes (CL) gold deposit, and Goodpaster (GP) gold deposit on Northern
Star’s property. Red dots indicate the approximate location of holes to be drilled in the initial
program.
Resolution can earn up to a 60% interest in the 64North Gold Project through exploration
expenditures of US$20 million, payment of US$200,000 cash and issuance of 38 million
Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the
agreement between Millrock and Resolution are documented in Millrock’s announcement made
on December 16, 2019.
Stock Option Grant
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Drilling at 64North, West Pogo Block,
Aurora Target, Goodpaster District, Alaska
Page 4
The Millrock Board of Directors has approved, in accordance with the Company’s stock option
plan, a grant of stock options to employees, officers, directors, and advisors of the company.
The company has granted a total of 2,430,000 stock options that may be exercised at $0.135 for
five years.
Qualified Person
The scientific and technical information disclosed within this document has been prepared,
reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock
Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies,
packages, and operates large-scale projects for joint venture, thereby exposing its shareholders
to the benefits of mineral discovery without the usual financial risk taken on by most exploration
companies. The company is recognized as the premier generative explorer in Alaska, holds
royalty interests in British Columbia, Canada, and Sonora State, Mexico and is a significant
shareholder of junior explorer ArcWest Exploration Inc. Funding for drilling at Millrock’s
exploration projects is primarily provided by its joint venture partners. Business partners of
Millrock have included some of the leading names in the mining industry: EMX Royalty,
Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers
Resolution, Riverside and PolarX.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)
Some statements in this news release contain forward-looking information (within the meaning
of Canadian securities legislation) including, without limitation, management’s expectation that
drilling will successfully be carried out in the first quarter of 2020. These statements address
future events and conditions and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or implied by the
statements. Such factors include, without limitation, Millrock’s ability to mobilize the drill rig and
camp and complete the drilling work and customary risks of the resource industry.