Posted in | News | Gold | Mining Business

Millrock Offers Exploration Results and Property Returns for the Apex Gold Project

Millrock Resources Inc. has received good test results from a sampling and mapping program conducted in August 2021. According to the soil sampling data, known mineralization at the former-producing Apex Mine extends 1,000 m northeast.

Millrock Offers Exploration Results and Property Returns for the Apex Gold Project.
Project Location Map. Image Credit: Millrock Resources Inc.

These are excellent results that show the gold-bearing quartz vein structure known from historic mining has significant strike continuity. Some of the soil sample numbers are of exceptional tenor.

Gregory Beischer, President and CEO, Millrock Resources Inc.

The exploratory effort, which included a soil geochemical survey (439 samples), rock sampling (39 samples) and geologic mapping, was finished in August 2021. A 20 m by 40 m grid was used to gather soil samples. The survey was initially meant to look for gold-bearing quartz veins along strike and down-valley from existing gold mineralization at the historic Apex and El Nido Mines in the Cann Creek drainage.

All assay results from the exploration effort have been received. The geochemical survey discovered a large gold in soil anomaly in Cann Creek’s lower cirque valley. Soil samples yielded results ranging from undetectable to 33,900 parts per billion gold (1.09 ounces per ton) and 34,400 parts per billion silver (1.10 ounces per ton). One hundred and seven of the 439 samples examined had extremely abnormal gold concentrations of more than 80 parts per billion.

The anomaly begins at around 300 m elevation, below outcropping vein exposures that contain the Apex Mine, and continues over a kilometer down the valley, along the vein swarm’s strike. The same rock units (diorite and amphibolite) that contain the Apex vein also underpin the anomaly.

Millrock stated on August 12th, 2021 that it has reached a deal with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc., for the Apex gold property in Southeast Alaska. Coeur committed to spending roughly $200,000 in exploration activity under the terms of the agreement.

Coeur has fulfilled its duties by funding the project but has chosen to end the option agreement. Millrock is free to further investigate the initiative alone or seek a new earn-in partner.

We enjoyed working with the Coeur Explorations team and thank Coeur for advancing the project. The soil anomaly presents a compelling target for drilling and significantly expands the strike potential of the small, historic underground mine.

Gregory Beischer, President and CEO, Millrock Resources Inc.

Quality Control–Quality Assurance

Millrock follows rigorous Quality Assurance–Quality Control (“QA/QC”) guidelines. The assay work was done under the terms of a contract between Coeur and the assay laboratory. At all times, samples are maintained in a safe area. The Bureau Veritas laboratory in Vancouver, Canada, tested the samples.

The software used the sample preparation procedure codes SS80 for soils and PRP70-250 for rocks. For all samples, FA430 (lead collection fire-assay fusion-AAS finish) and MA250 (four acid digestion Ultratrace ICP-MS) were utilized as analytical procedures. For all samples, a 10% QA/QC sample insertion rate was used: 5% CRM (Certified Reference Materials) of existing gold concentration and 5% blank material. The Qualified Person believes the results presented in this news release are accurate.


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