Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Millrock Resources, Inc.
Millrock Resources Inc. (TXV:MRO) or “the Company acts as a project generator to the mining industry. In the search for gold and copper deposits in Alaska and Arizona, Millrock identifies, packages and operates large-scale projects for joint venture. In this way, the company seeks to expose its shareholders to the benefits of mineral discovery with greatly reduced financial risk and attendant shareholder dilution. As of early December 2010, Millrock had 12 active exploration projects, including nine gold-copper properties in Alaska and three porphyry copper prospects in Arizona.
The company's business model shares risk by partnering with other companies that invest capital to move exploration projects toward development and production. Millrock has established a property portfolio prospective for the discovery of large-scale intrusive- related gold and copper-gold porphyry deposits. Companies currently investing in Millrock projects in include major mining companies Teck Resources Limited, Kinross Gold Corporation, Inmet Mining Corporation and Vale Exploration Canada. Millrock owns and operates several mineral exploration projects in Alaska in three distinct regions: the Seward Peninsula of western Alaska (Bluff and Council projects); the Kahiltna Terrane of south-central Alaska (Estelle, Revelation and Cristo); and the Tintina Gold Belt of eastern Alaska (Uncle Sam, Fortymile and Moosehorn). In Arizona the Company is actively exploring three projects in the copper camps in the southeastern part of the state (Galiuro, San Jose and Dry Mountain).
In late November 2010, Millrock announced that it had staked a block of 266 claims (17,223 hectares) in the Togiak Terrane of southwest Alaska. The staked claims (the Humble claim group) are located on state land approximately 80 kilometers northeast of Dillingham, Alaska, covering multiple geophysical targets with coincident surface geochemical anomalies. There are geological similarities to the giant Pebble copper-gold deposit which is situated 130 km to the northeast.