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Millrock Resources Provides Exploration Drilling Update on 64North and Fairbanks Gold District Projects, Alaska
Highlights: 64North Tourmaline Ridge gold prospect drill results: Multiple gold-bearing veins were intersected with grades up to 6.7 grams per tonne gold. 64Nor
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" Highlights: 64North Tourmaline Ridge gold prospect drill results: Multiple gold-bearing veins were intersected with grades up to 6.7 grams per tonne gold. 64North Earn-in Agreement: Resolution Minerals indicates it intends to pay Millrock 10 million shares and US$100,000 to vest with a 51% interest in the 64North project. Treasure Creek project Eastgate–Scrafford prospect drill results: 32.0 m @ 0.50 g/t Au from 114.3 m down hole. VANCOUVER, British Columbia, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (\"Millrock\" or the “Company”) is pleased to provide an update on drilling at the 64North gold project (funded and executed by Resolution Minerals Limited (ASX: RML, “Resolution”) and on the Treasure Creek gold exploration project in the Fairbanks Gold District (being carried out by Felix Gold Limited (ASX: FXG, “Felix Gold” or “Felix”) in Alaska. At the 64North gold project five diamond core holes were drilled in Summer 2022. Assay results from the program have been reported by Resolution in a press release dated December 12, 2022. The best intervals include: Hole ID 22TR005: 1.0 meters (m) @ 6.7 grams per tonne (g/t) Au from 93 m Hole ID 22TR003: 0.4 m @ 4.6 g/t Au from 414 m Hole ID 22TR002: 7.0 m @ 1.1 g/t Au from 169 m; and 0.9 m @ 1.2 g/t Au from 403 m; and 0.6 m @ 2.8 g/t Au from 537 m; and 2.1 m @ 1.7 g/t Au from 551 m Millrock owns 23,100,000 shares of Resolution, which has been sole-funding exploration at the 64North gold project over the past three years to earn a joint venture interest. Resolution has now expended in excess of US$9 million, thereby earning the right to increase its interest to 51%. Resolution indicates it intends to pay Millrock 10 million shares and US$100,000 as the final steps needed to vest with a 51% interest in the project. Felix Gold has recently reported the following significant near-surface gold intercepts from drilling done on the Scrafford Shear prospect on the Treasure Creek gold project. The Scrafford Shear is part of a +5 kilometer long structural corridor which is thrusted and repeated three times, delivering +15 kilometer equivalent strike potential. Key intercepts reported by Felix Gold in their December 9, 2022 press release include: Hole ID 22TCRC039: 32.0 m @ 0.50 g/t Au from 114.3 m including 9.1 m @ 1.17 g/t Au from ...