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Millrock Resources Inc.
Summary
| Project: | La Navidad | |
|---|---|---|
| Deposit: | La Navidad | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 1/29/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-1-2019: Millrock Resources Inc. announces an Exploration/Drilling Update report for its La Navidad deposit at the La Navidad project. No significant assays returned from drilling. VANCOUVER, BRITISH COLUMBIA, January 29, 2019 - Millrock Resources Inc. | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Gregory A. Beischer (Internal) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA, January 29, 2019 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or the “Company”) reports that results from a drilling program completed at the La Navidad gold project in Sonora State, Mexico have been received. The program focused on the northwestern portion of the project. Four holes were drilled at El Tigre prospect, where gold had been detected by soil sampling in the vicinity of historic mine workings. The drill holes tested induced polarization geophysical anomalies and northwesttrending high-angle structures that appear to control mineralization observed at surface. Four further holes tested El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) pointed to the possibility of an intrusion-related gold deposit. In total, eight holes totaling 1,844 meters were drilled in the program. The exploration work was funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). The drilling results were generally disappointing. Only a few weakly anomalous gold values were returned. The alteration and mineralization observed at surface appear to weaken in the subsurface. It does not appear that further exploration work on these prospects is warranted. Millrock has received notification from Centerra that it is terminating the option to joint venture agreements on both La Navidad and El Picacho gold projects. | |
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