Millrock Resources Inc. reports that a single drill hole has been completed at its Dry Mountain project in Arizona.
The project is a joint venture between Millrock and First Quantum Minerals Ltd. ("First Quantum") following First Quantum's recent acquisition of Inmet Mining Corporation. The hole was completed to a depth of 1,165.9 m to test for a porphyry copper deposit buried beneath Quaternary alluvium and Tertiary cover rocks. The favourable Laramide rocks were intersected at approximately 900 m below surface. No copper mineralization was intersected and no evidence of hydrothermal alteration of significance was observed.
The Dry Mountain project is located at the southwestern end of the Morenci porphyry copper trend. The trend is defined by structural features, and a series of magmatic intrusive complexes identified in bedrock and traced by geophysical methods under post-mineralization volcanic cover and alluvium. A copper + molybdenum biogeochemistry anomaly at Dry Mountain measures five kilometers by six kilometers. The anomaly indicates the potential for a large buried porphyry copper deposit. The Dry Mountain geochemical anomaly is the southernmost in a string of significant anomalies that starts at the Safford deposits, large porphyry copper deposits that are being mined by Freeport-McMoRan Copper & Gold. Gravity data defines a regional pre-mineral basement high. The recently completed drill hole pierced the rocks below the anomaly but did not explain it. Therefore, Millrock interprets that the geochemical anomaly is derived from a remote bedrock source. Millrock and First Quantum will evaluate the results in context of the prior exploration work accomplished and determine the next step forward.
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President & CEO of Millrock Resources Inc. Mr. Beischer is a Qualified Person as defined in NI 43-101.