Millrock Resources (CVE:MRO) said Tuesday that drilling has begun at its Council project on the Seward Peninsula in western Alaska.
Exploration at the Council project will target sediment-hosted vein
gold deposits and the program consists of six holes totaling around
Drill holes will test a seven kilometre long gold–arsenic soil
anomaly that overlies a regional structural feature, the company noted.
In places, the soil anomaly is up to 400 metres in width.
Millrock crews discovered stockwork and vein hosted gold
mineralization near the target area in 2011. Placer gold occurrences are
also known to exist downstream, the miner said.
The Council project is the subject of an option agreement with Kinross Gold (NYSE:KGC) (TSE:K), which can earn up to a 75 per cent interest in the property.
holds gold and copper deposits in mineral rich Alaska and Arizona. It
currently has twelve active exploration projects, eight gold-copper
properties in Alaska, and four porphyry copper prospects in Arizona.
With funding primarily coming from its joint venture partners, the
company plans to carry out exploration programs with a total value of
more than US$10 million in 2012.