Millrock Resources (TSX-V: MRO) Greg Beischer and Head of IR Melanee Henderson on Willoughby Project Data, Drilling Program Plans at Los Cuarentas Project in Mexico and Stellar Project in Alaska
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Head of Investor Relations for Millrock Resources (TSX-V: MRO)(OTC: MLRKF), Melanee Henderson, and CEO and President of Millrock Resources, Mr. Gregory Beischer. Greg and Melanee, how are you this morning?
Melanee Henderson: Fabulous.
Greg Beischer: Doing great, Gerardo, good to talk to you again.
Gerardo Del Real: Thank you both for taking the time. Melanee, I'm going to take this opportunity now that I have you on, just to touch base on the properties there in the Golden Triangle District. You had a news release back on March the 23rd that I wanted to talk about, and the headline read, "Millrock Acquires Willoughby Project Data, Stewart Golden Triangle District, British Columbia." Now, I imagine that as Head of Investor Relations, you probably get the bulk of the inquiries. Have you seen an increased interest in the projects in that area?
Melanee Henderson: Yes. And, you know, when that news release actually hit the airwaves there was quite a bit of interest generated by investors, as our projects are right in the heart of the Golden Triangle. If you were to go on our website, you'd see that one of our projects is right next to Pretivm's Brucejack that's well ahead of schedule going into production. And another one of our projects is right next to IDM's Red Mountain, and another one's right close to Seabridge's KSM. So yep, lots of interest in that area.
Gerardo Del Real: Well those are obviously projects that have exposure to the price of gold. What are your thoughts here with the events here in the past 24 hours, and obviously gold ticking up a lot higher?
Melanee Henderson: Yeah, I know. I was awake at like 10 to 4 this morning going, "I gotta check to see what the price of gold is up," and at 10 to 4 it was up 15 bucks. Unfortunately, war bodes well for metals, but there's been a lot of momentum anyway that you can't ignore, that gold is well on its way in the right direction.
Gerardo Del Real: Absolutely. Now Greg, while I have you on the line, let's talk about the data that you were able to acquire, because I know it's data that I believe you didn't even know existed, if I'm not mistaken, and in looking it over, there are some pretty exceptional high-grade gold and silver drill results in there. Can we talk about that a bit?
Greg Beischer: Sure thing. You know, Melanee's right, our projects are right in the heart of the Golden Triangle, right in the middle of the action, but it's more than just being close, you know? There's some really interesting mineralization on our projects. This information that came into our possession was from a drilling program carried out by a company called Camnor Resources, back in 1996. The data had been set aside and wasn't generally available to the exploration community.
Well, we found that information, and we were actually really pleasantly surprised by some of the drilling sections that have been reported, really high-grades over significant widths. One of the holes was something like 3.85 ounces per tonne gold over 3 1/2 meters. So this is really high-grade, good width, and it's rather exciting.
Gerardo Del Real: Now there is some exploration activity nearby the Willoughby property, if I'm not mistaken. I think IDM has the Red Mountain gold property, right? Which is a few kilometers to the east, is that accurate Greg?
Greg Beischer: That's right. It's three kilometers to the east, but across a glacier. And that's the other exciting thing about Willoughby, is that there's quite a bit of ice in the high mountain country, and well, you know it's been 20 years since anybody really worked on this project and that ice has receded significantly, so we're really looking forward to getting our prospecting crews out along the edge of that glacier to see what's been exposed recently.
Gerardo Del Real: Now Millrock is obviously a project generator, you do a lot of the early stage work. Often time you manage projects, but you bring in partners to actually fund a lot of the work, which of course keeps dilution to a minimum and allows you multiple shots at goal. Is that the strategy for the Willoughby property, Greg, once you do some of the initial work?
Greg Beischer: Absolutely. We stick to our business model absolutely rigorously, as you know, Gerardo, and so before we do any drilling we'll certainly get a partner, and we're in discussions with several different groups at the present time.
Gerardo Del Real: Excellent. Now there's another property that I'm very interested in, the Stellar property, and I know that you have a partner there. That's a property that I'm hoping to see some drilling this summer. Is that something that may still happen? Is that in the works?
Greg Beischer: That's the plan. You know, now we're into April and all of a sudden the Alaska field season is starting to look pretty close. Our partner, Vista Minerals out of Australia, has indicated their desire to mount a fairly aggressive drilling program to reestablish the high-grade copper-gold resource at the Zackly deposit that is included in the Stellar land package, so we'll execute that work on their behalf with their funding, and we're looking forward to doing that work. Actually, quite happy, too, that Kinross is a partner on our Liberty Bell project, so it's going to be a busy year here in Alaska.
Gerardo Del Real: Good, good, good. Now shifting gears a little bit, I know down in Mexico you have the Cuarentas project, and that's a part of the strategic alliance that you have with Centerra, if I'm not mistaken. How are things coming along with the Cuarentas project down in Mexico?
Greg Beischer: Our crews have been running flat out in Sonora over the last few months on a variety of projects, but particularly Los Cuarentas, where we've now completed all the surface surveys and we're getting all the results back. I know our team is there right now with Centerra picking out drill targets and areas where we'll execute some trenching. That should be the next drilling project out of the chute for Millrock.
Gerardo Del Real: Excellent. So near term catalyst, drilling at Los Cuarentas down in Sonora with Centerra Gold, and mid-term here, we hope to see Stellar, and possibly Liberty being drilled out this year, is that correct Greg?
Greg Beischer: Definitely drilling on Stellar. Probably, we'll reserve drilling for 2018 at Liberty Bell. We're just going to get everything ready, do the soil and geochemical work that we need to do to firm up the targets at Liberty.
Gerardo Del Real: Excellent. Well, it's a busy rest of the year. I imagine Melanee's going to have her hands full with inquiries for the properties.
Melanee Henderson: Yep.
Gerardo Del Real: Just to kind of provide newer shareholders, or potential shareholders, with an overview of the projects that you currently have in the portfolio, can you briefly summarize the different jurisdictions you have projects in, and maybe projects that may still be available that are pretty prospective for partners?
Greg Beischer: Yep, we've got quite a variety of projects. Ones in particular that I like are a series of claim groups that we hold in the Goodpaster Mining District, central Alaska, near the Pogo Mine. I'm sure there's going to be other ore bodies found in the Goodpaster, and we've got what I think is the best ground that's available.
Presently, our British Columbia projects are still available. As I mentioned, we're in discussions with a couple of different groups, but no deal signed yet. And then, finally, in Mexico we've put together a series of silver projects, and so we're looking at the possibility of vending these projects into perhaps a new junior company. So lots of things cooking on that front, but if any listeners are geologists or mining companies looking for projects, we've got them.
Gerardo Del Real: Well, it sounds like it's going to be a busy rest of the year for both you and Melanee, Greg. I think there's a lot of catalyst. It's probably worthwhile for investors and speculators in this space to go to the website. Could you give us the website address there, Melanee?
Melanee Henderson: Yeah, it's www.millrockresources.com. And I just wanted to mention that on our website there's actually a great model that we acquired on how a project generator works. If you're unclear, definitely go to our home page and look for it because it's a great model, it shows exactly how a project generator works.
Gerardo Del Real: Excellent. Melanee, Greg, I want to thank the both of you very much for your time. Thank you for coming on, and I get the feeling there's going to be a lot of updates this year, so hopefully you're gracious enough to come back on as the news rolls out there.
Melanee Henderson: Yes.
Greg Beischer: Always our pleasure, Gerardo.
Melanee Henderson: Always, yes.
Gerardo Del Real: Thanks again, everybody.