Millrock Reports Update ON Drilling, 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: 20-16
MILLROCK REPORTS UPDATE ON DRILLING,
64NORTH GOLD PROJECT, ALASKA
VANCOUVER, BRITISH COLUMBIA, September 28, 2020 – Millrock Resources Inc. (TSX-V:
MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports assay results from drilling from
exploration drill holes 20EC05, 20RE06 and 20AU07 that have been recently completed at the
Echo, Resolution, and Aurora targets on the West Pogo block of the 64North Gold project.
The locations of the holes drilled so far this year on the West Pogo Block are shown in Figure 1,
along with the locations of the Echo, Reflection, and Aurora target areas. Also depicted are the
locations of the Pogo Mine and the Goodpaster deposit situated on claims owned by Northern
Star Resource Ltd (ASX: NST, “Northern Star”). Northern Star recently indicated that it intends
to perform delineation drilling at Goodpaster with a $21 million budget in the coming year, and
work is now underway.
Hole 20EC05 was drilled to test a strong, gently northwest dipping CSAMT conductor in a
prospect area that is down-dip and approximately four kilometers from Northern Star’s
Goodpaster deposit. On Millrock’s claims, it is referred to as the Echo prospect. Numerous fault
zones with some pyrite and strong dolomite-sericite alteration were intersected from 224 meters
to 293 meters downhole. No anomalous gold results were returned from these zones.
At the Reflection prospect, hole 20RE06 was drilled to test conductive rocks in an area where
an intrusive rock body was interpreted from airborne magnetic data, two kilometers due east
from Northern Star’s Goodpaster deposit. A fault zone with pyrite and arsenopyrite, locally with
quartz breccia clasts, was intersected from 279.4 meters to 289.1 meters. Also, a zone of
stockwork quartz mineralization was intersected over 0.6 meters starting at a depth of 324.9
meters. The mineralized zones did not contain any gold anomalies.
Drilled directly along strike from the Goodpaster deposit, hole 20AU07 intersected a zone of
shallow-dipping quartz veining over a seven-meter interval, starting at 488 meters downhole.
The zone of veining is hosted by paragneiss and is within a sericite – chlorite – dolomite altered
zone measuring 22 meters thick from 476 meters to 498 meters. The alteration and veining
contains pyrite, arsenopyrite, and pyrrhotite. The assay results show weakly anomalous gold
values. Oriented drill core measurements indicate the vein dips gently at approximately 25 to 30
degrees to the west.
Millrock President & CEO Gregory Beischer commented: “We had high hopes for the seven-
meter thick quartz vein interval intersected in hole 20AU07 and these results are disappointing.
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 Update 64North Gold Project,
Alaska
Page 2
However, it is not unusual for gold concentration to change dramatically within a few tens of
meters in vein-hosted systems such as these. Drilling the intersected vein in nearby locations
could result in the gold discovery we seek.”
Figure 1. Aurora, Echo, and Reflection Prospects - West Pogo Block, 64North Project Alaska. These prospects are
currently the focus.
Exploration at 64North is being done in a collaborative manner with technical teams from
Millrock and earn-in funding partner Resolution Minerals Limited (ASX: RML, “Resolution”).
Resolution has indicated a desire to drill two further holes from the same pad as hole 20AU07 at
different azimuths. Plans are being made to execute this drilling in November, pending
contractor availability. The holes will provide additional pierce points on the vein intersection
made with hole 20AU07. The photographs in Figures 1, 2, and 3 show the quartz vein
intersected with hole 20AU07.
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 Update 64North Gold Project,
Alaska
Page 3
Figure 2. Hole (20AU07) Quartz vein with fuchsite and sulphides - arsenopyrite, pyrite, pyrrhotite.
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 Update 64North Gold Project,
Alaska
Page 4
Figure 3. Hole #7 (20AU07), 485.65m to 489.85m, quartz and sulphide veins cross-cutting the paragneiss host rock.
Figure 4. Hole #7 (20AU07), 488.69m to 488.93m, quartz vein with fuchsite, arsenopyrite, pyrite and pyrrhotite.
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 Update 64North Gold Project,
Alaska
Page 5
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 and Resolution will
vest with a 30% ownership upon expending this amount. Other details of the agreement
between Millrock and Resolution are documented in Millrock’s announcement made on
December 16, 2019.
Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill
core was cut on-site at camp located near the drill hole and selective samples of mineralized
zones collected. Drill core samples were kept in a secure location at all times. For the results
presented here, the representative half-core samples underwent sample preparation at the
Bureau Veritas laboratory in Fairbanks, Alaska, (preparation method code PRP70-250) using
70% to <2 mm Crush and Pulverize 85% to <75 um. Appropriate high, medium and low gold
and base metal standards were used by Millrock on a 1:20 basis (5%). Blanks were inserted on
a 1:50 basis (2%). The Bureau Veritas laboratory introduces QAQC samples and completes
duplicate check assays on a routine basis. Following preparation in Fairbanks the samples were
subsequently analysed at the Bureau Veritas laboratory in Reno, Nevada. Gold was analysed
by Fire Assay (code FA430/AA) with an AAS finish using a 30-gram nominal sample weight. No
multi-element analysis was completed on the samples. Inspection of QAQC information
indicates that all sample results are within tolerance.
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. and has a shareholding in Resolution
Minerals Limited. 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.
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 Update 64North Gold Project,
Alaska
Page 6
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 may contain forward-looking information (within the
meaning of Canadian securities legislation) including without limitation the intention to drill two
further holes from the 20AU007 pad, or to conduct drilling operation year round. 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.