North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Millrock Resources Inc. Feb. 14 announced that it has assembled an extensive land package covering nickel-copper-cobalt-platinum group metals prospects in Alaska's underexplored Wrangellia Terrane.

Formerly known as the Man project, Millrock's new Nikolai project includes the Eureka and Canwell claim blocks about 80 miles (130 kilometers) south of Delta Junction, Alaska.

Consisting of 104 state mining claims staked by Millrock, the Eureka claim block covers a roughly 10-mile- (16 kilometers) long trend of nickel-copper-cobalt-platinum group metal mineralization that was explored by Pure Nickel Inc. (now Galleon Gold Corp.) from 2007 through 2014.

Highlights from drilling carried out along the Eureka zone by Pure Nickel include:

• 224.6 meters averaging 0.23% nickel, 0.06% copper, 0.017% cobalt, 39 parts per billion platinum, 81 ppb palladium, and 8 ppb gold in hole PNI-10-0035.

• 319.7 meters averaging 0.25% nickel, 0.09% copper, 0.018% cobalt, 54 ppb platinum, 117 ppb palladium, and 13 ppb gold in hole PNI-10-036.

• 205.2 meters averaging 0.24% nickel, 0.09% copper, 0.017% cobalt, 61 ppb platinum, 122 ppb palladium, and 19 ppb gold in hole PNI-13-069.

Based on the historical drilling carried out at Eureka, Millrock has identified a roughly 1,700- by 600- by 300-meter zone of mineralization that hosts potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Additionally, Millrock postulates that higher grade mineralization may occur in embayment features at the base of the Eureka Zone, where heavy metals may accumulate during fractionation and crystallization of the ultramafic intrusion. Further drilling, however, is needed to confirm this hypothesis.

In addition to the state claims staked over the Eureka trend, Millrock has entered into an option agreement with David Johnson on Canwell, a block of 42 state mining claims about 11 miles (18 kilometers) to the northeast where very high grades of nickel, copper, and PGEs were identified with historical surface rock sampling and drilling. In addition to platinum and palladium, Canwell hosts the rarer and more expensive PGEs – iridium, osmium, rhodium, ruthenium.

Nickel-copper-PGE mineralization at Canwell is associated with mafic and ultramafic dikes that are hypothesized as deep-rooted feeders to the same ultramafic sills located at Eureka. Samples collected by Millrock geologists during due diligence work returned 0.36% to 4.05% copper, 0.14% to 2.87% nickel, 0.004 to 0.071% cobalt, 0.05 to 0.11 grams per metric ton gold, 3.8 to 7.7 g/t silver, 0.47 to 0.85 g/t palladium, 0.18 to 0.37 g/t platinum, 0.02 to 0.07 g/t iridium, 0.01 to 0.06 g/t osmium, 0.02 to 0.05 g/t rhodium and up to 0.110 g/t ruthenium.

Millrock may purchase a 100% interest in Canewll by performing US$5 million in exploration on the property, plus paying US$500,000, issuing 5 million Millrock shares, and granting a buyable royalty to Johnson.

Upon signing, which is subject to approval by the TSX Venture Exchange, Millrock is issuing an initial 1 million shares and paying US$25,000 to Johnson.

"Millrock is very pleased to have generated this nickel-dominant project which also has a variety of accompanying critical and strategic metals," said Millrock Resources President and CEO Greg Beischer.