The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Millrock Resources Inc. April 7 reported that it paid Corvus Gold Inc. US$25,000 for the mining claims that make up the Chisna copper-gold project in Alaska.
Along with 100 percent interest in the project, Millrock purchased an exclusive copy of a proprietary exploration database covering the claims and the surrounding district.
The data represents an estimated US$11 million worth of exploration work that demonstrates the potential for large copper-gold porphyry deposits.
The proprietary database also provides information on vein and intrusion-hosted gold deposits; and nickel-platinum group element deposits.
Millrock President and CEO Gregory Beischer said, "We are pleased to add this project to our portfolio and look forward to utilizing the information that we've purchased." Corvus will retain a 1 percent net smelter returns royalty on the claims.
"The continued expansion of the Corvus royalty portfolio is intended to provide shareholders with exposure to future discoveries with production potential while minimizing dilution and cost risk associated with non-core assets," explained Corvus CEO Jeff Pontius.
"Chisna is an exciting gold and copper project in an underexplored, prospective area.
Partnering with a quality exploration group with extensive experience in Alaska offers Corvus shareholders potential for future zero cost gold production." The eastern edge of the Chisna project is accessed by a series of trails leading from the paved Tok Cutoff highway.
The trailhead is about 2.5 miles west of the village of Slana and 64 miles south of Tok.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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