Millrock Acquires Option on El Picacho Gold Project, in an Alliance Arrangement With Centerra Gold, Sonora State, Mexico
VANCOUVER, BC--(Marketwired - June 08, 2017) - Millrock Resources Inc. (TSX VENTURE: MRO) ("Millrock") announces it has entered an option agreement to purchase the El Picacho project. The project consists of district-scale concessions that cover approximately 6,300 hectares, located in Sonora State, Mexico, 18 kilometres southwest of the San Francisco Gold Mine which is operated by Alio Gold Inc. The target is an orogenic gold deposit of similar scope to that present at San Francisco. The project was identified to Centerra Gold Inc. ("Centerra") by Millrock, and Centerra has agreed that El Picacho will become a "designated project" under the terms of the strategic alliance agreement ("Alliance") in place between the companies. The Alliance was announced here in early 2017. Centerra has provisionally approved a US$460,000 exploration budget for 2017 for the El Picacho project.