The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Despite strong assays, Coeur passes on further exploration North of 60 Mining News – March 11, 2022
Locations and assay results for the 2021 exploration at the Apex gold project in Southeast Alaska.
Millrock Resources Inc. March 9 reported that the 2021 sampling and mapping program at Apex has identified a new gold-in-soil anomaly extending more than 1,000 meters northeast of old workings at this historical gold mining project about 70 miles southwest of Juneau, Alaska.
Assays of soil samples from a broad gold-in-soil anomaly in the lower cirque valley of Cann Creek returned values ranging from below detection to a maximum of 33.9 grams per metric ton (1.09 ounces per ton) gold and 34.4 g/t (1.10 oz/t) silver. Millrock reports that out of the 439 samples collected, 107 returned highly anomalous values exceeding 80 parts per billion gold.
Millrock says the gold-in-soil anomaly identified with the 2021 sampling occurs at roughly 300 meters lower elevation than the outcropping veins that host the Apex and El Nido mines and extends over 1,000 meters down the valley from the historic workings, along strike of the vein swarm. The anomaly is also underlain by the same rock units that host the Apex vein.
"These are excellent results that show the gold-bearing quartz vein structure known from historic mining has significant strike continuity," said Millrock Resources President and CEO Gregory Beischer. "Some of the soil sample numbers are of exceptional tenor."
Despite the results, Coeur Explorations Inc., a wholly-owned subsidiary of Coeur Mining Inc., has decided not to continue its partnership to explore Apex. Under an agreement entered into last fall, Coeur funded approximately C$200,000 worth of exploration at the Southeast Alaska gold project, which supported the sampling and mapping program.
While it was reported earlier that Coeur was considering a 2022 drill program, the Chicago-based miner has decided not to move forward with exploration of the Southeast Alaska gold project.
"We enjoyed working with the Coeur Explorations team and thank Coeur for advancing the project," said Beischer. "The soil anomaly presents a compelling target for drilling and significantly expands the strike potential of the small, historic underground mine."
With Coeur's exit, Millrock is free to further explore the project on its own or find another earn-in partner.
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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