Millrock Generates Five New Gold and Copper Projects in Sonora, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2015) - Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock") announces that it has acquired five claim blocks in the recent "Libertades" in Sonora, Mexico.
Millrock President & CEO Gregory Beischer commented: "Using the geological database we gained through the purchase of Paget Southern Resources in 2014, and through the knowledge, experience and effort of our Mexico exploration team, Millrock has been able to generate another excellent suite of mineral claims at very low cost. We plan to move these early-stage projects along through our development pipeline and secure funding partners when potential is clearly demonstrated".
Following is a brief description of each claim group:
El Toro
The property covers 207 hectares and is located 84 km northeast of Hermosillo, near the town of Ures. The target at El Toro is a silver and gold deposit postulated to exist in the Los Cochis fault, a brecciated vein system traversing the claims. This target vein system is six kilometers in length and varies in width from two to 35 meters. Metamorphosed sediments in contact with the Los Cochis fault form skarns in mineralized structures containing veins and small replacement bodies with lead, copper, zinc, gold and silver.
El Pima
This claim is located near the Santa Gertrudis mine re-start project owned by GoGold Resources Inc. The surrounding area of Millrock's claim is known for placer gold occurrences. Millrock geologists have recently discovered abundant pyrite-bearing quartz and black iron oxide quartz float along with mesothermal quartz veins cutting limestone and sandstone outcrops.
Shelly RM
The Shelly RM claims are located approximately 16 kilometers east of Magdalena in an area known for low angle fault hosted epithermal gold deposits and placer gold exploitation. This structurally complex area is near the Lluvia de Oro gold mine owned by North West Mining Corporation.
El Valle
The El Valle property is 26 km northeast of the La Caridad porphyry copper - molybdenum mine owned by Grupo Mexico property near the town of Villa Hidalgo. A large alteration zone consisting of moderately silicified rock contains stockwork vein systems. An internal claim mined during the 1940s focused on a large two- to eight-meter wide quartz vein, which forms a low sulfidation epithermal gold occurrence containing pyrite, chalcopyrite and galena. This vein extends 400 meters into Millrock's El Valle claim group. Similar epithermal quartz veins and silicified crests are located both north and south of the main exposed vein.
Karen
Karen is located 130 m southeast of Hermosillo, Sonora along mostly paved roads. The area is surrounded by claims owned by Grupo Peñoles and is located within a large regional fault system characterized by gold anomalies. Epithermal tabular vein deposits are reported by the Mexican geological survey just north of Karen.
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock. 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. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, 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. Millrock currently has twenty-seven active exploration projects - nine gold, copper and zinc properties in Alaska, a uranium project in New Mexico, and seventeen gold, silver and copper projects in 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: First Quantum, Teck, Kinross, Vale, Inmet and Altius.
ON BEHALF OF THE BOARD
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."
