Millrock Announces Claim Staking of the Galiuro Porphyry Prospect in the San Manuel Copper District, Arizona
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VANCOUVER, BRITISH COLUMBIA, May 20 (MARKET WIRE) --
Millrock Resources Inc. (TSX VENTURE: MRO), is pleased to announce that
it has completed staking of claims on highly prospective lands in the San
Manuel - Copper Creek area of southeastern Arizona. The Company sees
strong potential for a large copper-molybdenum porphyry deposit beneath
volcanic cover at the Galiuro project, which is located 16 kilometers
east of Mammoth, and 80 kilometers northeast of Tucson, Arizona.
Millrock's Galiuro property is located 80 kilometers southeast of the
Resolution deposit, which is currently being drilled by Resolution Copper
Mining, a joint effort of Rio Tinto and BHP Billiton. Resolution is
reported to be one of the world's largest and highest grade un-mined
copper deposits. The deposit is being evaluated as a large underground
block cave mining operation. Millrock's Galiuro property is within the
San Manuel - Copper Creek Trend, a linear feature upon which a series of
highly productive porphyry deposits is located. The San Manuel -
Kalamazoo deposit is a one billion ton copper porphyry located just 20
kilometers to the southwest. San Manuel produced 60,000 tons per day in
the 1990's from an underground block cave mining operation. For a
location map Millrock's Galiuro property click here:
http://millrockresources.com/images/projects/Web_Galiuro_v01_large.gif
The Company is targeting a high-grade copper porphyry deposit within the
intrusive rocks beneath post-mineralization Tertiary volcanic rock. The
Millrock claim block is centered on a buried Laramide-aged intrusive
complex, with excellent porphyry indicators on both the east and west
sides of the property. Porphyry-style alteration and mineralized outcrops
occur on the immediate west side of the claim block at Copper Creek, and
trend beneath cover on to Millrock's claims. A small resource of 110
million tons of porphyry style mineralization is reported at Copper
Creek. Breccia pipes in the Copper Creek area are known to contain high
grade copper. Red Hawk Resources is actively exploring in the area. This
company has recently reported a drill intersection of 27 meters grading
3.42% copper. Just to the east of the claims, a very large argillic
alteration zone with intense pyritization occurs at Four Mile Creek.
Millrock interprets this alteration to be peripheral to a major porphyry
system. Magnetic surveys indicate continuity of the favorable-aged
intrusive complex beneath Tertiary-aged volcanic cover on Millrock's
claims. Epithermal copper mineralization on the Company's Galiuro claims
occurs along major structures in Tertiary volcanic rocks. This
mineralization may be remobilized, and suggests the presence of older
Laramide-aged porphyry mineralization at depth. While a large porphyry is
Millrock's primary target, the possibility of a high grade deposit will
be investigated.
Millrock President, Gregory Beischer, noted: "Millrock has now secured
100% ownership of three properties in the heart of the prolific copper
mining camps in southeastern Arizona. Each one has strong indications of
the presence of a porphyry copper - molybdenum deposit. Millrock will
advance these projects in a systematic manner beginning in fall 2008."
The geologic concept for this target was brought to Millrock's attention
by Tucson, Arizona based geologist Michael Schaeffer. A Finder's Fee of
US$20,000 and issuance of 20,000 Millrock shares is payable to Mr.
Schaefer. A further US$10,000 and 15,000 shares is payable annually as
long as the Company holds the property, and a payment of US$2 million is
to be paid upon commercial production.
This press release has been prepared by Gregory Beischer, Certified
Professional Geologist, President and CEO of Millrock Resources Inc. Mr.
Beischer is a Qualified Person as defined by NI 43-101. Mr. Beischer
approved the information contained in this release.
About Millrock Resources Inc.
Millrock Resources Inc. is a TSX Venture Exchange listed company intent
upon the discovery of high value mineral deposits, with a focus on Alaska
and Arizona. Millrock currently has five active exploration projects in
Alaska, and three in Arizona. The Company plans to drill at two of its
projects in Alaska in summer of 2008.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
Some statements in this news release contain forward-looking information,
including without limitation statements as to planned expenditures and
exploration programs. 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 planned
expenditures, the ability to complete exploration programs on schedule
and the success of exploration programs.
TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Contacts:
Millrock Resources Inc.
Patrick De Witt
Manager, Investor Relations
(604) 638-3164
(604) 688-9620 (FAX)
Website: www.millrockresources.com
Copyright 2008, Market Wire, All rights reserved.
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