VANCOUVER, BRITISH COLUMBIA, February 11, 2008 – Millrock Resources Inc. (MRO – TSX:V) is pleased to announce that is has acquired approximately 7,965 hectares of State of Alaska mineral rights in three discrete blocks, in the Fortymile mining district. This historic mining district in the east-central part of the state has produced in excess of 550,000 ounces of placer gold.
Millrock is targeting disseminated and vein-style intrusion-related lode gold deposits in the project area. The claim blocks are strategically located adjacent to ~135 million year old felsic to intermediate intrusive rocks with downstream gold placers. The ~135 million year age has been shown to be particularly prolific for gold mineralization in this area. An abundance of windblown silt mantles the bedrock, effectively obscuring potential lode sources over much of the claimed area. Conventional soil sampling is not effective in this area.
The company has carried out a very limited reconnaissance stream sediment and rock sampling program in the road accessible portions of the properties. Rock samples grading up to 3.54 g/t gold were found (see table below). Twenty-one rock samples range from less then detectable gold (0.001 g/t) up to 3.54 g/t. Stream sediment sampling of one of the properties defined a multi-sample gold and arsenic stream sediment anomaly that will be targeted for grid sampling follow-up work in 2008.
Rock TypeAu g/tAg g/t
Quartz monzonite3.5414
Quartz vein3.3910
Quartz vein2.04232
Plans for the 2008 season include a comprehensive biogeochemical survey, mapping, and trenching where feasible. Drilling may be carried out late in the season contingent upon results.
Bonanza Hills and King Tut Millrock has also carried out reconnaissance surveys at its Bonanza Hills and King Tut properties, which are located northeast of the Pebble porphyry copper – gold – molybdenum deposit in southwest Alaska. These claim blocks are centered on geological, geochemical and geophysical features that may indicate the presence of copper-gold porphyry deposits. While no obvious signs of porphyry style mineralization or alteration were observed at Bonanza Hills, vein-style gold mineralization was noted in talus. The significance of the talus source has yet to be determined, but grab samples collected from the veins returned the following high grade results. Sixteen samples range from less then detectable (.005 g/t) to 133.5 g/t.
Rock TypeAu g/tAg g/t
Talus – vein24.82.5
Talus – vein133.59.3
Talus – vein46.52.7
Talus – vein78.05.4
Talus - vein57.21.5
Little outcrop is exposed at King Tut. However, stream sediment samples anomalous in gold and copper were collected. Millrock plans further geological and geochemical surveys in the 2008 field season to determine the significance of the anomalous conditions. Drilling will be carried out if warranted.
About Millrock Resources Inc.
Millrock Resources Inc. is a TSX Venture Exchange listed company focused on exploration of mineral deposits in Alaska. Alaska is a highly prospective, largely underexplored region, which boasts several world class deposits. Millrock’s goal is to target similar type deposits, through acquiring and exploring land packages that have the potential to host mineral deposits of global significance. To date, Millrock has acquired four promising projects, and intends on making further key acquisitions.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Patrick De Witt, Manager, Investor Relations
(604) 638-3164
Toll Free: (877) 217-8978
Millrock Resources Inc.
750 World Trade Centre - 999 Canada Place
Vancouver, BC V6C 3E1
Canada
FORWARD LOOKING STATEMENTS
Some statements in this news release contain forward-looking information. 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. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
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