The new assay results confirm the existence of low-grade Ni-Cu-Co-PGE mineralization immediately below and adjacent to the
Millrock President and CEO
Figure 1. View looking east along the
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Figure 2. Cross section view of
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Based on historical drill hole results, Millrock identified a probable zone of mineralization measuring approximately 1,200 meters by 400 meters by 300 meters that contains low but potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Upon further review of the historical drill hole results, it was noted that only incomplete, non-continuous sampling was done in rocks intersected below the CEZ in hole FL-003. Drill core from this hole is preserved at the Geologic Materials Center in
Highlights of the core sampling program include:
- FL-003: 100 samples were assayed between hole depths of 273.4 meters and 412.1 meters
- FL-003: mineralized interval of 135.6 meters 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 the newly received assays and historical assays from INCO holes FL-003 and FL-006, Millrock now interprets there to be three distinct domains (UEZ, CEZ, and LEZ) within the
These three domains consist of strongly serpentinized rocks:
1:
Drillhole | To (m) | From (m) | Interval (m) | Ni (%) | Cu (%) | Co (%) | Pd (ppm) | Pt (ppm) | Au (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:
Drillhole | To (m) | From (m) | Interval (m) | Ni (%) | Cu (%) | Co (%) | Pd (ppm) | Pt (ppm) | Au (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:
Drillhole | To (m) | From (m) | Interval (m) | Ni (%) | Cu (%) | Co (%) | Pd (ppm) | Pt (ppm) | Au (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 was ended prior to the LEZ |
Note: NiEq% and CuEq% in this press release are calculated using the following metal prices:
Nickel =
In order to determine the deportment of nickel, copper, cobalt, and the precious metals, Millrock has submitted samples for laboratory analysis to identify which minerals are host to the valuable metals. From this information, an idea of metal recoverability can be gleaned. This will be very important information to have for a project of this type and scale.
Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Core samples are kept in a secure location at all times. In this case, the samples were assayed at the Bureau Veritas laboratory in
Historical assay results for core samples originally obtained by INCO in 1997 were used, in part, for the composite grade calculation for the LEZ in hole FL-003. Millrock has not independently verified the results. However, the drilling work completed in 1997 was done under the direct supervision of
Qualified Person
The technical information within this document has been reviewed and approved by
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ON BEHALF OF THE BOARD
“Gregory Beischer”
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Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of the ongoing metal deportment study, and the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
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Figure 1
View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.
Figure 2
Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.
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