Millrock Resources Looks Ahead to Productive Nikolai Project
Company to Seek Joint Venture Partners in Minerals Exploration
Millrock Resources Inc. has assembled (by staking and an option agreement) an extensive land package in the Delta River Mining District in Alaska. The Nikolai Project (previously known by some as the MAN project) hosts nickel, copper, chromium, cobalt platinum group element (PGE) prospects. The claims show potential for delineation and development of a large tonnage deposit rich in Ni and other critical and strategic metals. “Millrock is very pleased to have generated this nickel-dominant project which also has a variety of accompanying critical and strategic metals,” said Millrock president and CEO Greg Beischer. “Other companies such as Canada Nickel and Group Ten Metals have had strong market success by working on the development of geologically similar metal accumulations. Millrock aims to have similar success with the Nikolai project.” One of the claim blocks covers the highly prospective and underexplored Eureka zone. At this location, a zone of disseminated Ni-Cu-Cr-Co-PGE mineralization was initially discovered by a subsidiary of Inco, and further expanded by Pure Nickel Inc. (TSX-V: NIC; now Galleon Gold Corp. TSX-V: GGO) as reported in their press
releases issued between 2007 and 2014. The claims had become open for staking and Millrock re-staked the land position. Additionally, Millrock has entered into an option agreement on the Canwell claims where very high grades of nickel, copper and platinum group elements, including the rare platinum group metals osmium, iridium, ruthenium, and rhodium are known from historical surface rock sampling and drilling. Millrock’s Nikolai Project now consists of 146 State of Alaska Mining Claims covering 9,454 hectares in a highly prospective, underexplored ultramafic Ni-Cu- PGE mineralized belt. The claims are proximal to paved highways, and a network of gravel roads and trails afford ready access to the Canwell claim block. Fairbanks lies approximately 200 kilometers to the northwest, Delta Junction lies 130 kilometers to the north and Denali Highway lies 150 kilometers to the west. Several deposit types are possible at the Nikolai project. Geologically, the project is located within the underexplored Wrangellia Terrane of Central Alaska. A characteristic component of this terrane is the Nikolai Greenstone, an extensive sequence of Late Triassic
flood basalt rocks. Mafic and ultramafic intrusions, the source for the Nikolai Greenstone, along with Permian and Cretaceous felsic plutons, intruded Permian volcanic and volcaniclastic rocks. Wrangellia holds high potential for the discovery of economic magmatic sulfide deposits containing nickel, copper, cobalt, platinum, palladium, iridium, rhodium, osmium, ruthenium, gold, silver, lead, and zinc. Past producing mines and known deposits within the Wrangellia include Kennecott Copper Mines, Windy Craggy, Wellgreen-Nickel Shaw and White River. At the Eureka claim block, 104 State of Alaska mining claims were staked and are 100 percent owned by Millrock. Previously discovered Ni-Cu-PGE prospects form a northwest trend of soil and rock anomalies that contain elevated nickel, copper, platinum, palladium, and gold. After an initial discovery by Inco Ltd. in 1997, drilling by Pure Nickel Inc. and ITOCHU Corporation between 2008 and 2013 resulted in the discovery of a mineralized corridor called the Eureka Zone. More than 15 kilometers in length, the disseminated Ni-Cu-PGE mineralization
is associated with serpentinized mafic and ultramafic rocks. Based on these historical drill hole results, Millrock has identified a zone of mineralization that contains potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. At the Canwell claim block, Millrock has entered into an agreement under which it has been granted the option to purchase the Canwell Ni-Cu-PGE project from property owner David Johnson. The property covers 42 State of Alaska mining claims (2,720 hectares). Millrock has reviewed existing data and built a comprehensive exploration plan. The Company will seek joint venture partners to fund exploration and thereby earn an interest in the project. 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 recognized as the premier generative explorer in Alaska.
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