Apex El Nido

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Maps - Alaska Project Map - 2022.jpg

Status

Available For Option

Target

The target at Apex is a high-grade underground gold deposit similar to Kensington, Hirst-Chichagof, Bralorne in British Columbia and many other mesothermal gold vein deposits around the world. Past mine production averaged 1.4 ounces per short ton.

Location and Setting

The Apex high-grade gold prospect is located on the northern portion of Chichagof Island, Southeast Alaska. The property is approximately 75 miles west-southwest of Juneau, Alaska and 70 miles north-northwest of Sitka. The small fishing community of Pelican is approximately 1.5 miles from the property across Lisianski Inlet. It is serviced by the Alaska Marine Highway System, chartered barge service, and scheduled floatplane and air taxis. In the 1920s the US Forest Service built a log corduroy road from tidewater to the mill site on the property.

Land Status

The Apex property consists of 39 unpatented federal mining claims on National Forest lands totaling approximately 315 hectares (780 acres).

Geology and Mineralization

Gold-bearing veins at the Apex property are hosted in two pre-dominant lithologies: diorites and an amphibolite schist. Aplite dikes and quartz-sulfide veins cut the country rock and appear to be closely related in age, with the quartz veining representing the younger phase. Gold bearing veins pinch and swell from a few centimeters to several meters. Production took place from 1923 to 1936 and totals greater than 18,000 oz Au, 2,400 oz Ag, in 12,800 short tons; average grade greater than 1.4 opt Au (48 g/t). A soil and rock geochemical program in 2021 followed up on anomalous gold in soil samples collected to the northeast of Apex Mine. The result of the survey indicates that the vein swarm hosting the Apex Main Vein extends to and underlies the cirque and valley to the northeast of the mine.

Proposed Exploration Program

Apex has never been drill tested; drilling along strike and down dip on ore shoots could commence immediately. A draft proposal for a 2022 drilling program at Apex is currently under review by the United States Forest Service.

THE TECHNICAL INFORMATION WITHIN THIS DOCUMENT HAS BEEN REVIEWED AND APPROVED BY GREGORY A. BEISCHER, PRESIDENT & CEO OF MILLROCK RESOURCES INC. MR. BEISCHER IS A QUALIFIED PERSON AS DEFINED IN NI 43-101.