VANCOUVER, BRITISH COLUMBIA, December 9, 2016 – Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) announces that it has completed an initial drilling program at its Los Chinos gold project in Sonora State, Mexico. The project is the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by funding US$5.0 million in exploration expenditures over a five year period. Millrock manages the exploration work in close consultation with Centerra.
The drilling program consisted of ten holes totaling 1,990 meters. Three target areas were tested; the El Camino zone, La Tinaja prospect, and Pitalla zone. Anomalous surface geochemical values detected at surface with induced polarization anomalies were targeted. The induced polarization anomalies were explained by fault structures with oxidized sulfide minerals. Weakly anomalous gold assay results were encountered in two of the drill holes, but no significantly mineralized intervals were drilled.
The best intersections were from hole 16-04 which returned 4.0 meters grading 0.69 grams per tonne gold and hole 16-09 which returned 6.3 meters grading 0.185 grams per tonne gold.
Millrock and Centerra are evaluating options for further exploration of the Los Chinos property.
Located just 100 kilometers north of Millrock’s office in the city of Hermosillo, Mexico, the Los Chinos property is immediately adjacent to Highway 15. The Los Chinos property is located approximately 50 kilometers south of the San Francisco gold mine which is operated by Timmins Gold Corp. The Los Chinos property is in a very similar geological setting as the San Francisco mine and is prospective for mesothermal, orogenic gold deposits. Three zones of mineralization have so far been delineated by Millrock; El Camino, La Tinaja and Pitalla zone. This link leads to a description of the project with maps.
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.
Millrock adheres to stringent Quality Control – Quality Assurance standards. Drill core was delivered from the drill hole location by Millrock personnel to Millrock’s secure facility in Hermosillo, Mexico. In this drilling program 1141 core samples were collected by splitting the core in half with an electric rock saw. Half of the core was retained as a geological record in Millrock’s facility. Regular samples were collected over two meter intervals except when a lithologic contact or fault zone was encountered. No samples were smaller than one meter wide. For every 20 core samples, a blank sample known to contain no gold and a standard sample of known gold concentration were also analyzed. Three different standards were utilized including MEG-Au 11.15 (3.4 ppm Au), MEG-Au 12.11 (1.5 ppm Au) MEG-Au 13.01 (0.31 ppm Au). Additionally, a duplicate sample was collected every 30 samples by quartering the core. Two quarter samples from the same depth were then sent to the lab with different sample numbers. All results from blanks, standards and duplicates were reviewed and found to be accurate within acceptable tolerances. Core samples were placed in plastic sample bags and inventoried before delivery to Bureau Veritas lab in Hermosillo, Mexico for analysis. Sample were kept in a secure location prior to delivery to the laboratory. Analysis methods used include FA430 (30 gr/Fire Assay/AAS) and AQ-200 (Aqua Regia – ICP/MS). As a further precaution 117 samples were selected for re-analysis using FA-450 (50 gr/Fire Assay/AAS) and 37 samples were selected for re-analyses using FS631-1kg (Screen Metallics). Results have not yet been received for the 37 samples submitted for screen metallics. All samples were stored in Millrock’s core shed in a secure area until deliver to the laboratory could be made.
ABOUT MILLROCK RESOURCES:
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll-Free: (877) 217-8978
mhenderson@millrockresources.com
Millrock Resources Inc.
2300 – 1177 West Hastings St.
Vancouver, BC V6E 2K3
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.
“NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.”