Millrock Resources has pronounced the phase I additional drilling results from the Uncle Sam gold project, located in the Tintina Gold Belt of Alaska.
The location of this gold project is 60 km to the Pogo gold mine’s western direction, 65 km to the southeastern part of Fairbanks in Alaska, and beside a new gold discovery, which was announced by Sumitomo Metal Mining. Crescent Resources is providing financial support to Uncle Sam’s drilling program and the exploration work is managed by Millrock. Crescent earns a choice of acquiring 100% interest in the property rights of Millrock depending on a royalty. Currently, the company holds around 5% of Crescent’s outstanding and issued ordinary shares.
Millrock drilled five holes, which are 1,329 m in total, at the Lone Tree prospect during 2011. This prospect is situated in Uncle Sam property’s northwestern section. This drill program aimed at a 500 x 250 m part of a huge gold-in-soil anomaly, of around 4,000 x 1,000 m in dimension. The historic drilling operations previously performed in the common region by other contractors yielded very positive results. The company intersected 2.03 g/t gold over 19.22 m in the hole USC-011, and 1.79 g/t gold over 6.0 m, 1.65 g/t gold over 14.0 m in the hole USC-013. Millrock intended to broaden the identified gold mineralization region through this drilling program.
In general, the cut off gold existing at the Lone Tree prospect is present in thick zones, which has uneven gold mineralization that is linked with fault zones and faults. It is apparent in the hole LT-005 intercepting 0.58 g/t gold over 33.83 m. Mineralized host rocks comprise both gneiss and schist metamorphic rocks and also a slight level of granitic intrusive rocks. Exact thickness of the intersections cannot be found, due to the faulted and severely cracked rock cores.
The Lone Tree region is one of three major strange gold-in-soil regions, which was outlined earlier, existing in the Uncle Sam property. Millrock intersected up to 4.86 g/t gold over 11.40 m by means of the prior drilling program conducted at the Wolf Prospect.
The Wolf Prospect seems to be located on strike with the Naosi mineralized zone, which was identified lately by Sumitomo, sited around 2 km to the southeastern part. Sumitomo has encountered 19.7 g/t silver and 7.8 g/t gold over 7.92 m at Naosi.
Millrock has done a broad soil geochemical survey at the property during 2011 and also planned to get the information from the formerly unsampled regions.