Millrock Resources provides an update on its Alaskan gold projects.
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Fairbanks District – Treasure Creek Gold Project
In a recent report, Felix Gold stated that it has finished the scheduled exploration program at the Treasure Creek gold project in the Fairbanks Mining District. The company has completed nearly 12,424 m of reverse circulation drilling in 131 holes to test the NW Array and Eastgate prospect zones.
Reconnaissance lines were drilled to test geochemical and geophysical targets in other property zones.
A preliminary result of 89.0 m grading 1.2 g per tonne of gold was formerly reported at the Northwest Array prospect. A diamond core rig is currently being used to carry out additional testing. Assay outcomes for just 9 of the 131 holes have been disclosed.
Thousands of assay findings are scheduled to be announced in the fall of 2022. Also, Felix Gold has finished a VTEM airborne geophysical survey at Treasure Creek to match an earlier flow magnetic survey.
Owing to its sale of Fairbanks District claims and a strategic alliance with Felix Gold, Millrock is the owner of 9,957,157 shares of Felix Gold and holds royalties stretching from 1.0% to 2.0% NSR on all claims presently owned by Felix Gold in the Fairbanks District.
Felix Gold executed an excellent drilling program this year and we look forward to seeing the results. We think the potential of the Fairbanks District has not been fully recognized, but that it soon will be.
Gregory Beischer, President and CEO, Millrock
Goodpaster District, 64 North Gold Project
In a recent report, Resolution Minerals stated that it has finished a diamond drilling program to test the Tourmaline Ridge prospect. This is situated directly west of the Pogo Mine, where owner Northern Star Resources works on a fruitful gold mining project southeast of the City of Fairbanks.
Tourmaline Ridge was recognized as a significant target for drilling in 2022. Gold and pathfinder elements were identified in soil samples covering a 1,850 by 750-m area. Resolution implemented an efficient drill test.
Five diamond core holes that make a total of 2,324 m were drilled to intersect shallow northwest dipping structures deduced from geophysics as probable extensions of the Pogo Mine structures. Hole 22TR001 intersected altered rocks with signs of numerous hydrothermal fluid flow events — mineralization comprised veinlets of quartz with pyrite, arsenopyrite, and pyrrhotite. Hole 22TR003 intersected quartz veins containing pyrite and bismuthinite.
Resolution provided information on the first batch of assay outcomes from handpicked zones in holes 22TR001 and 22TR003 with low-level, elevated gold values, usually in the 0.04 to 0.2 g/t gold range. Resolution expects receipt of the rest of the assay results (86% of the total samples presented) in November 2022.
Resolution is presently funding the exploration single-handedly to earn up to an 80% interest in a portion of the 64North project. Owing to the earn-in agreement, Millrock is the owner of 23,100,000 shares of Resolution. Thus far, Resolution has received a 42% interest in the project.