MILLROCK PLANS DRILLING FOR TWO ALASKA PROJECTS, HUMBLE PROJECT, SOUTHWEST ALASKA AND COUNCIL PROJECT, SEWARD PENINSULA
VANCOUVER, BRITISH COLUMBIA, April 10, 2012 - Millrock Resources Inc. (MRO - TSX:V) ("Millrock" or the "Company") announced that it has confirmed programs and budgets with its funding partner for two drilling programs in Alaska in 2012. The first drilling program will be done at the Humble project in southwest Alaska, and the second will be done at the Council project on the Seward Peninsula in western Alaska.
The Humble project targets copper-gold porphyry deposits and is situated approximately 120 km to the southwest of the Pebble deposit in a similar geological setting. Five holes totaling 1,000 m are planned, and drilling is scheduled to begin in April 2012. The drilling targets conductive zones with coincident multi-element soil geochemical anomalies possibly indicative of a buried porphyry deposit.
The Council project targets sediment-hosted vein gold deposits. The planned program for this project consists of six holes totaling approximately 1,000 m, and drilling is scheduled to commence in July 2012. The drill holes will test a seven km long gold – arsenic soil anomaly that overlies a regional structural feature. At places the soil anomaly is up to 400 m in width.
Both exploration programs may be expanded if initial results are positive.
The two projects are the subject of option to joint venture agreements with Kinross Gold Corporation (KGC - NYSE) (“Kinross”), and both are presently still in the option phase. The work is funded by Kinross and carried out by Millrock. Under the terms of the agreements, Kinross may earn up to a 75% interest in the projects.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
