Millrock Completes Drill Program on Behalf of PolarX at Stellar Copper-Gold Project, Alaska
VANCOUVER, BC--(Marketwired - October 04, 2017) - Millrock Resources Inc. (TSX VENTURE: MRO) (MLRKF) ("Millrock") is pleased to announce that it has successfully completed a late-season drilling program on the Stellar copper-gold project in Alaska. The work was executed by Millrock on behalf of PolarX (ASX:PXX) ("PolarX") (previously Coventry Resources (CYY.AX)).
Millrock sold the Stellar project to Coventry in August 2017 in a transaction announced here, and Coventry subsequently changed its name to PolarX. Millrock presently owns approximately 10.7% of the issued and outstanding shares of PolarX and is entitled to certain milestone and royalty payments.
The drilling program's primary objective was to establish a modern resource for the Zackly deposit that meets the standards of the Australian Joint Ore Reserves Committee for mineral resource reporting. A historic high-grade copper-gold resource had been previously reported by prior workers at Zackly, which is situated on the Stellar claim block and is detailed in this summary description.
The results of visual observations of drill core samples are summarized in the PolarX press release which can be viewed at this link.
Drill core recovery techniques and samples acquisition, handling and assay methods are clearly stated in the PolarX press release and it is anticipated that initial assay results will be received in October.
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.
About Millrock Resources Inc.
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 is primarily provided by 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, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.
ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO
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."
