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Millrock Resources Inc.
Summary
| Project: | Los Chinos | |
|---|---|---|
| Deposit: | Los Chinos | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 12/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-12-2016: Millrock Resources Inc. announces an Exploration/Drilling Update report for its Los Chinos deposit at the Los Chinos project. JV with Centerra Gold Inc. - Drilling results incl. 4.0m @ 0.69g/t Au. VANCOUVER, BRITISH COLUMBIA, December 9, 2016 - | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Gregory A. Beischer (Internal) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA, December 9, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that it has completed an initial drilling program at its Los Chinos gold project in Sonora State, Mexico. The project is the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by funding US$5.0 million in exploration expenditures over a five year period. Millrock manages the exploration work in close consultation with Centerra. The drilling program consisted of ten holes totaling 1,990 meters. Three target areas were tested; the El Camino zone, La Tinaja prospect, and Pitalla zone. Anomalous surface geochemical values detected at surface with induced polarization anomalies were targeted. The induced polarization anomalies were explained by fault structures with oxidized sulfide minerals. Weakly anomalous gold assay results were encountered in two of the drill holes, but no significantly mineralized intervals were drilled. The best intersections were from hole 16-04 which returned 4.0 meters grading 0.69 grams per tonne gold and hole 16-09 which returned 6.3 meters grading 0.185 grams per tonne gold. Millrock and Centerra are evaluating options for further exploration of the Los Chinos property. Located just 100 kilometers north of Millrock’s office in the city of Hermosillo, Mexico, the Los Chinos property is immediately adjacent to Highway 15. The Los Chinos property is located approximately 50 kilometers south of the San Francisco gold mine which is operated by Timmins Gold Corp. The Los Chinos property is in a very similar geological setting as the San Francisco mine and is prospective for mesothermal, orogenic gold deposits. Three zones of mineralization have so far been delineated by Millrock; El Camino, La Tinaja and Pitalla zone. This link leads to a description of the project with maps. | |
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