Millrock Resources (MRO-V) Project Generator
www.millrockresources.com
79.8 million o/s
Management 10%
Altius 10%
Kinross 6%
Teck 3%
Strong Hands 25%
$2 million cash (as of Sept 30, 2012)
Company presentation - May 2012
millrockresources.com
Millrock, Vale end joint venture for Alaska exploration
Dec 20, 2012 - News Release
The strategic partnership between Millrock Resources Inc. and Vale Exploration USA Inc., a wholly owned subsidiary of Vale SA, has concluded. Through the course of the program, Vale invested $1.4-million for research and reconnaissance exploration for porphyry copper-gold deposits in Alaska. The work led to recommendations for five designated projects, one of which was accepted by Vale: the AUDN project. Under a separate budget Vale financed $700,000 for soil geochemical and ZTEM-magnetic airborne geophysical surveys at AUDN. However, Vale has also advised that it will not finance further work on AUDN.
Gregory Beischer, president and chief executive officer of Millrock, stated: "While Vale will not continue with the strategic partnership, we are pleased with what has been accomplished. As a result of the work, Millrock has generated five highly prospective projects, two of which have been advanced to the drill-ready stage. There is an excellent chance that we will find other partner companies to test the prospects we developed with Vale."
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