VANCOUVER, BRITISH COLUMBIA, October 10, 2010 - Millrock Resources Inc. (MRO - TSX:V) ("Millrock" or the "Company"), along with its partner Valdez Gold Inc. (VAZ – TSX:V) (“Valdez Gold”), released today results of a drilling program at their Bluff gold project on the Seward Peninsula of western Alaska. At Bluff, structurally controlled gold mineralization occurs within a 6.4 km long, arcuate band of schistose rocks near a contact with marble. Drilling by BHP Billiton Ltd. in the late 1980s identified three zones of mineralization. The Daniel’s Creek zone, which was known to contain interesting intercepts drilled by prior workers, was the main focus of this year’s efforts.
Fences of short (~130 m) holes were drilled by Millrock with funding provided by earn-in partner Valdez Gold. In total 2,800 m of reverse circulation drilling in 24 holes was completed. The Daniel’s Creek zone mineralization was confirmed, and extended in a westerly direction by 375 m and in an easterly direction by 250 m. The mineralized zone now has a known strike extent of 940 m.
The best intersection of the program was in hole BLF2021, which consisted of 32.0 m grading 3.8 g/t Au including a section grading 9.0 g/t Au over 12.2 m. This intersection appears to be from a previously undiscovered, parallel zone situated at a lower stratigraphic level than the known Daniel’s Creek zone. In addition, drill hole BLF2015 intersected 32 m at 1.93 g/t Au including 18.3 m at 3.03 m. Further drilling will be required to define the known zone and expand the newly discovered zone. The results of the program are listed in the table below. The intersections reported below are thought to be approximate true widths. However, since there is little geologic control on the intersection reported with BLF2021 the true width is not known.
HoleFrom (ft)To (ft)Width (ft)Width (m)Au (g/t)
BLF2002130145154.60.48
265290257.60.54
340350103.12.69
495515206.10.88
BLF20035060103.10.42
1501904012.20.88
230240103.10.67
315325103.10.82
470495257.62.02
BLF2005150165154.60.60
375395206.11.78
430440103.10.54
BLF20061035257.60.95
130140103.12.54
BLF20072540154.61.62
4555103.10.44
335345103.10.54
350360103.10.48
500510103.12.31
BLF200810504513.70.81
7585103.10.95
115140257.60.43
165175103.10.42
195210154.60.39
BLF2009155165103.11.22
BLF201295115206.10.74
BLF2013110120103.10.39
BLF201450853510.71.44
Including5060103.04.32
BLF20153045154.61.95
16527010532.01.93
Including1652256018.33.03
2752255015.20.44
BLF2017520154.60.54
6585206.101.84
Including6575103.13.30
495505103.10.38
515525103.14.08
BLF20183045154.61.51
115125103.10.31
BLF201980105257.60.76
BLF2020520154.61.84
130150206.10.49
BLF2021030309.11.66
4014510532.03.81
Including40804012.29.00
* 200 ppb cut off used for composite calculations
The Bluff property is comprised of a land tract covering a total 142 sq km approximately 80 km east of the town of Nome and 24 km east of the Big Hurrah gold deposit, which NovaGold is considering for production and processing at the Rock Creek Mine. The land is owned by the Bering Straits Native Corporation and the White Mountain Native Corporation. Millrock has an option to lease the lands for mining. Valdez Gold is funding exploration work on the property to earn up to a 75% interest in the project under the terms of an agreement announced originally on April 30, 2010 (for details see here). Millrock is presently the operator for exploration activities on the project.
Drill cutting samples from the Bluff drilling program were collected at the drill site, sealed in bags and shipped to Fairbanks, Alaska for assay at ALS Chemex, an international laboratory with stringent quality control and quality assurance programs. Millrock also had its own quality control / quality assurance programs in place.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
ABOUT MILLROCK RESOURCES INC. Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class gold and copper deposits in mineral rich Alaska and Arizona, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the financial risk and attendant shareholder dilution. Millrock currently has eleven active exploration projects, eight gold-copper properties in Alaska, and three porphyry copper prospects in Arizona. Its joint venture partners, underwriting some $7.5 million of exploration in 2010, include some of the leading names in the mining industry: Kinross, Teck, Vale, Inmet and Altius, as well as junior explorers Valdez Gold, Brixton Metals and Crescent Resources.
ON BEHALF OF THE BOARD "Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Gregory A. Beischer (604) 638-3164 Millrock Resources Inc. 750 World Trade Centre 999 Canada Place Vancouver, BC V6C 3E1
Some statements in this news release contain forward-looking information, including without limitation statements as the ability to confirm the presence of uranium deposits underlying the densely drilled areas of the property, the potential to expand resources by drilling, the forward-looking price of uranium, the potential for amenability to ISR mining, the ability to secure a funding partner for the project, the completion of the option to purchase some of the claims, and the ability to secure funding to carry out the planned exploration and development . These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
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