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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (4711)	4/16/2014 9:52:47 AM
From: Goose94	Read Replies (1) of 202925

Through staking, Millrock Resources (MRO-) April 16, '14 has acquired a large claim group in northwest Alaska that is prospective for large-scale zinc (plus lead and silver) deposits. The claim blocks cover age-equivalent rock strata that are known to host the Red Dog district zinc-lead-silver deposits approximately 140 km to the southeast. Stream sediment samples collected by the United States Geological Survey indicate strong zinc and barium anomalies on the claims. The project is located 220 km northwest of the town of Kotzebue and 20 km south of Cape Lisburne on the coast of the Chukchi Sea. It consists of 83 State of Alaska claims covering approximately 5,300 hectares. For a brief summary description of the project and location maps, please follow this link. The Red Dog Mine is a joint venture between Teck Corporation and NANA Regional Corporation and has been operating since 1989. The open pit mining operation is one of the world's largest producers of zinc and lead. The sediment-hosted replacement ores are of exceptional grade and the deposits are large. Of the four known deposits at Red Dog, mining operations are currently extracting ore from the Aqqaluk Deposit, which is reported to have 45.4 million tons of probable reserves containing 15.8% zinc and 4.1% lead as of December 31, 2013 (source). Phil St. George, Millrock's Chief Exploration Officer stated: "Red Dog is truly a world-class zinc mine. We feel there is excellent potential to discover similar deposits on our claim block. Our claims have strong zinc and barium anomalies in areas that are underlain by Red Dog time equivalent stratigraphy. Our geologists have extensive geologic knowledge of the Red Dog region rocks and are familiar with the most effective exploration techniques for the deposit type. Our local experience will allow for efficient exploration and will hopefully lead to discovery of any zinc-lead-silver deposits that may exist in this area." Gregory Beischer, Millrock President & CEO commented: "We have seen an increasing interest in zinc from mining and smelting companies. We can see the potential for zinc shortages and price increases in the medium to long term and therefore have decided to act on this conceptual target. We will be looking for a strategic partner to advance the project to the drilling stage."

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