Millrock and First Quantum Report on Drilling at Dry Mountain Project, Arizona

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Millrock Resources Inc. (MRO.V) reported that a single drill hole has been completed at its Dry Mountain project in Arizona. The project is a joint venture between Millrock and First Quantum Minerals Ltd. (FM.TO) following First Quantum's recent acquisition of Inmet Mining Corporation.

The hole was completed to a depth of 1,165.9 m to test for a porphyry copper deposit buried beneath Quaternary alluvium and Tertiary cover rocks. The favourable Laramide rocks were intersected at approximately 900 m below surface. No copper mineralization was intersected and no evidence of hydrothermal alteration of significance was observed.

The recently completed drill hole pierced the rocks below the anomaly but did not explain it. Therefore, Millrock interprets that the geochemical anomaly is derived from a remote bedrock source. Millrock and First Quantum will evaluate the results in context of the prior exploration work accomplished and determine the next step forward.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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