The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Millrock Resources Inc. Oct. 5 said it has assembled a large land position covering high-potential gold targets near Sumitomo Metal Mining Company's Pogo gold mine in the Goodpaster Mining District of Interior Alaska.
As a result of a series of purchase and option agreements and claim staking, Millrock now holds six discrete claim blocks in the district covering an area of 15,847 hectares (39,158 acres).
The claims cover soil geochemical anomalies, many of which are untested.
On several properties, there are intersections obtained through drilling by prior operators that are strongly anomalous in gold and deserving of follow-up exploration.
Millrock acquired full ownership of six claim blocks - Eagle, ER, Beverley-Cal- Surf, SE Surf, Scot and Boundary - from Kiska Metals Corp., subject to certain continuing obligations to a subsidiary of Kiska; Capstone Mining Corp., and Anglogold Ashanti (U.S.A.) Exploration, Inc .; optioned the West Pogo claims from Aurora Exploration; and optioned the WP Hansen claims from Beau and Zeynip Hansen.
Millrock had previously acquired the WP Raven claims from Corvus Gold Inc. "So far, only one hard rock lode mine has been discovered in the Goodpaster Mining District, and it is a very good one.
We believe that one day there will be multiple lode gold producers in the area.
By virtue of these recent property acquisitions, Millrock now has what we think to be the best-potential land in the mining district.
The claims are positioned based upon the results of millions of dollars of regional and local exploration done by the various vendors," said Millrock President and CEO Greg Beischer.
The Goodpaster Mining District area is subject to a collaboration agreement that Millrock signed with a major mining company in 2015.
Per the terms of the agreement, Millrock will offer the major the opportunity to assign individual projects to designated project status subject to an option agreement with pre-determined business terms.
The various claim blocks that now comprise the West Pogo project - ER, WP Aurora, WP Hansen, WP Raven and claims staked by Millrock - have been the subject of a recent exploration program conducted by Millrock with funding from the major totaling roughly US$250,000.
Work consisted of re-logging and sampling of existing drill core, infill soil sampling and geological mapping.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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