Millrock Resources Inc. announced that Felix Gold has revealed results from the first nine holes drilled at the Treasure Creek gold project this year. Alaska’s Fairbanks City is located just to the north of Treasure Creek.
Felix Gold has already drilled over 100 reverse circulation drill holes since drilling began in May 2022, and drilling is still ongoing. As soon as they are available from the lab, assay results will be made public in batches.
From hole 22TCRC08, Felix Gold has reported a highlight intersection of 89.9 m grading 1.20 g per ton gold beginning at 32.0 m underground. Nine holes have been reported so far, all of which have encountered gold mineralization and are from the NW Array prospect. Millrock has not independently verified Felix Gold’s reported results.
This is a great start to the drilling program that Felix Gold has undertaken. Millrock owns 9,957,157 shares of Felix Gold or about 5.8% of the company. Additionally, Millrock is to be granted a net smelter return royalty on the project that ranges from 1.0% to 2.0%.
Gregory Beischer, President and CEO, Millrock Resources Inc.
Gregory Beischer adds, “We hope that these first drill intersections are indications of a new gold deposit discovery that significantly increases Millrock’s share price and market capitalization. More and more discoveries of gold are being made in Fairbanks and the district should soon be recognized as a globally-significant gold mining camp.”
The Treasure Creek gold project is located 10 km west of Freegold Ventures Ltd’s new discovery at Golden Summit and 20 km north and west of Kinross’ Fort Knox gold mine. Gravels from Treasure Creek contain alluvial gold deposits that point to a bedrock source on the Felix Gold claims, where significant soil geochemical anomalies have been identified through historical research and a significant soil sampling program conducted in 2021.