Millrock Commences Drilling on San Jose Project, Safford Copper District, Arizona
VANCOUVER, BRITISH COLUMBIA, August 1, 2012 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the "Company") is pleased to announce that a third phase of drilling has begun on the San Jose project in the Safford District of Arizona.
The San Jose project is positioned at the intersection of the exceptionally prolific Safford and Morenci porphyry trends. The Safford deposits, presently being actively developed by Freeport McMoran Copper & Gold, form a linear northwest striking trend. The San Jose project is located approximately six km from the Sanchez deposit at the southeast end of the Safford trend. Morenci is located approximately 30 km to the northeast. Together, Safford and Morenci account for approximately 10 billion tons of past copper production and future reserves and resources. A porphyry cell located on Millrock's claims was discovered by drilling done by Noranda Inc. in the early 1990s. Drilling in the current program will focus on targets northeast of the San Jose porphyry.
The project is the subject of an exploration and option agreement with Inmet Mining Corporation (TSX: IMN) ("Inmet"). Under the terms of the Agreement Inmet has the opportunity to earn a 70% interest by incurring US$4.0 million in exploration expenditures and by making option payments of US$750,000.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
To read the entire news release follow the link below:
August 1, 2012 (Source: Millrock Resources, Inc.)
Disclosure: Millrock Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our Vulture Bargain #15. Members of the GGR team are actively accumulating and hold long positions in MRO.V or MLRKF.