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Millrock confirms a third mineralization layer beneath the core Eureka zone by analyzing historic core samples from the Nicolai (Ni-Cu-Co-PGE) project in Alaska (The Canadian Business Journal)

VANCOUVER, British Columbia, Sept. 26, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) is pleased to announce additional analytical results from sampling of historic cores from the Eureka Zone. I am happy to report. 100% owned Nikolai Project to host the Nickel (Ni) – Copper (Cu) – Cobalt (Co) – Platinum Group Element (PGE) outlook.

The Nikolai Project is located within Alaska’s Delta Mining District, approximately 130 kilometers by road south of Delta Junction and approximately 280 kilometers southeast of Fairbanks. The Eureka Zone, as reported in press releases from 2007 to 2014, is a widespread Ni-Cu-Co-PGE mineralization originally discovered by an INCO subsidiary and further expanded by Pure Nickel Inc. action (see Figure 1).

New analytical results confirm the presence of low-grade Ni-Cu-Co-PGE mineralization just beneath and adjacent to the core Eureka Zone (“CEZ”). The new zone has been named the Lower Eureka Zone (“LEZ”). Drilled by INCO in 1997, the FL-003 hole intersected 346 meters of nickel mineralization along the Upper Eureka Zone (“UEZ”) and had a true width of approximately 275 meters (Figure 2).

Millrock President and CEO Gregory Beischer commented:It is clear from past drilling that a large amount of mineralized rock exists in the Eureka Zone. We believe demand for nickel, cobalt, and other critical and strategic metals will become very strong in the coming decades, with a focus on low-grade mineralization such as Eureka. “

Figure 1. A view looking east along the Eureka Zone within a large mafic-ultramafic magma complex. Note: Ultramafic Complex and Eureka Zone overviews are approximate.

Figure 2. Cross-section of the Eureka Zone looking west showing the remains of FL-003 and FL-006 holes drilled by INCO in 1997.

About Eureka Zone:
Based on past drilling results, Millrock has identified a potential mineralization zone of approximately 1,200 meters x 400 meters x 300 meters. This zone potentially contains low economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Further examination of past drill hole results indicated that only incomplete and non-continuous sampling occurred in the intersecting rock beneath the CEZ of hole FL-003. Drilled cores from this hole are preserved at the Geological Materials Center in Anchorage, Alaska. Millrock collected and analyzed samples from the FL-003 hole of the suspected LEZ.

Core sampling program highlights include:

  • FL-003: 100 samples were analyzed between hole depths of 273.4 and 412.1 meters
  • FL-003: 135.6 meters of mineralized interval grading 0.20% Ni, 0.05% Cu, 0.016% Co, 0.062 ppm Pd, 0.026 ppm Pt, and 0.014 ppm Au, including eight historical intervals.

Based on newly received and previous analysis from INCO Hall FL-003 and FL-006, Millrock currently interprets there to be three distinct domains (UEZ, CEZ and LEZ) within the Eureka Zone. , where the true thickness is estimated at the excavated location. Position at 275 meters (Fig. 2).

These three domains are composed of strongly meandering rocks.

1: Upper Eureka Zone (UEZ) – low sulfur peridotite with interspersed sulfides.

drill hole up to (m) from (m) Spacing (m) Ni (%) Cu (%) unit (%) Palladium (ppm) Pt (ppm) gold (ppm) NiEq% CuEq%
FL-003 60.2 173.7 113.5 0.20 0.05 0.014 0.101 0.046 0.007 0.32 0.65
FL-006 185.0 298.1 113.1 0.21 0.06 0.018 0.093 0.046 0.006 0.35 0.70

2: Core Eureka Zone (CEZ) – Sulfur-rich peridotites and norites interspersed with sulfides.

drill hole up to (m) from (m) Spacing (m) Ni (%) Cu (%) unit (%) Palladium (ppm) Pt (ppm) gold (ppm) NiEq% CuEq%
FL-003 173.7 271.9 98.2 0.22 0.12 0.019 0.141 0.064 0.018 0.42 0.85
FL-006 298.1 382.8 84.7 0.26 0.13 0.020 0.143 0.069 0.025 0.47 0.94

3: Lower Eureka Zone (LEZ) – low sulfur melanolite with interspersed sulfides.

drill hole up to (m) from (m) Spacing (m) Ni (%) Cu (%) unit (%) Palladium (ppm) Pt (ppm) gold (ppm) NiEq% CuEq%
FL-003 271.9 407.5 135.6 0.20 0.05 0.016 0.062 0.027 0.014 0.32 0.64
FL-006 Hole finished before LEZ

Note: NiEq% and CuEq% in this press release are calculated using the following metal prices:
Nickel = $7.00/lb, Copper = $3.50/lb, Cobalt = $25.00/lb, Palladium = $1800/oz, Platinum = $900/oz. Gold = $1600/oz.

To determine the nature of nickel, copper, cobalt, and precious metals, Millrock submitted samples for laboratory analysis to identify the precious metal host minerals. From this information, ideas for the recoverability of the metal can be gleaned. This is very important information for a project of this type and scale.

Quality Control – Quality Assurance
Millrock adheres to strict Quality Assurance – Quality Control (“QA/QC”) standards. Core samples are always kept in a secure location. In this case, the samples were analyzed at the Bureau’s Veritas Laboratories in Vancouver, Canada. The preparation and analytical methods are described in further detail here. The code for the sample preparation method used in the current sampling program was PRP70-250. Analytical methods used include MA370 – 4-acid digestion ICP-ES Finish and FA330 – Fire assay fusion Au, Pt, Pd by ICP-ES. For every 10 core samples, blank, replicate, or standard samples (certified reference materials) of known copper, nickel, platinum, palladium, and gold concentrations were analyzed. Qualified persons are of the opinion that the results reported in this press release are reliable.

Historical analytical results of a core sample originally obtained by INCO in 1997 were partially used to calculate the composite grade of LEZ for FL-003 holes. Millrock has not independently verified the results. However, the drilling operations completed in 1997 were under the direct supervision of Gregory Beischer, who was in his previous role as exploration manager for INCO. Mr. Beischer is responsible for this disclosure. Historical samples were analyzed at Chemex Lab, Inc. Appropriate quality control measures were put in place.

qualified person
The technical information in this document has been reviewed and approved by Millrock’s President, CEO and Director, Gregory A. Beischer. Mr. Beischer is a qualified person as defined by NI 43-101.

About Milrock Resources
Millrock Resources Inc. is the mining industry’s leading project generator. By identifying, packaging and operating large joint venture projects, Millrock provides shareholders with the benefits of mineral discovery without the usual financial risks of most exploration companies. Recognized as Alaska’s premier generative explorer, the company is a majority shareholder in junior explorer ArcWest Exploration Inc. and a majority shareholder in Resolution Minerals Limited and Felix Gold. Drilling funding for Millrock’s exploration projects is primarily provided by his partners in his joint venture. Millrock’s business partners include some of the major companies in the mining industry. EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Junior Explorers Resolution, Riverside, PolarX, Felix Gold, and Tokuban.

On behalf of the Board of Directors
“Gregory Basher”
President and CEO Gregory Basher

Please contact us for more information.
Melanie Henderson, Investor Relations
Toll Free: 877-217-8978 | Local: 604-638-3164
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Certain statements in this news release contain forward-looking information. These statements address future events and circumstances and involve known and unknown risks, uncertainties and actual results, performance or achievements, either expressed or implied by future results, performance or achievements. accompanied by other factors that may differ materially from those stated. statement. Such factors include, but are not limited to, completion of ongoing metals exit investigations, completion of planned expenditures, ability to complete exploration programs on schedule, and success of exploration programs. Hmm.


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Millrock confirms a third mineralization layer beneath the core Eureka zone by analyzing historic core samples from the Nicolai (Ni-Cu-Co-PGE) project in Alaska (The Canadian Business Journal)

Source link Millrock confirms a third mineralization layer beneath the core Eureka zone by analyzing historic core samples from the Nicolai (Ni-Cu-Co-PGE) project in Alaska (The Canadian Business Journal)

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