Millrock Reports Resumption of Drilling and Geophysical Surveys, Aurora Target, West Pogo Block, 64North Gold Project, Alaska - Seite 2

Figure 01 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3efd3a9-fbe2-4e5a ....

Aurora Target Overview
The Aurora Target is a two-kilometer by five-kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the nearby Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora Target.

Results of Drill Hole 20AU001
Numerous zones of mafic rocks, fault zones, and quartz veins intercepted in drill hole 20AU001 fit with the exploration model. The low-angle, regional shear preferentially ruptured the mafic lithological layers. The Aurora Target is located in this regional shear and the current drill hole program will test the shear for gold mineralization in a variety of places. The regional shear at Aurora was detected by CSAMT and ELF ground-based geophysical surveys in 2019.

ZTEM Airborne Survey
A ZTEM airborne survey will soon be executed in the same area, along with detailed airborne magnetic surveys. If the airborne methods are able to detect the regional shear effectively, the method may be applied elsewhere on the project in a very cost-effective manner.

Millrock has developed a comprehensive COVID-19 safety plan with clear protocols that will help keep the operating team safe. The plan has been submitted to the relevant agencies and approved by the State of Alaska.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program, representative half-core samples will undergo sample preparation at ALS Chemex prep laboratory in Fairbanks, Alaska USA. Samples will be subsequently analyzed at ALS Chemex laboratories in Vancouver, Canada. Gold will be analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30-gram nominal sample weight). Other elements (48 in total) will be analyzed using ALS method code ME-MS61 which involves a four-acid "near-total" digestion and an ICP-MS + ICP-AES finish. The following QA/QC protocols have been adopted for this program: 1) Duplicates will be created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material is to be inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at the supervising geologist’s discretion. All results from duplicates, blanks, and standards will be reviewed and if found to be accurate and within acceptable tolerances, the results will be published.