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Millrock Resources - Investor's Presentation - Fall 2020 (TSX-V: MRO | OTCQB: MRLKF)
- 1. Millrock is a proven mineral exploration Project Generator On the cusp of Discovery at 64North Gold Project, Alaska Seeking New Investors Gregory Beischer, Geologist, President, & CEO Fall 2020 Gold in Alaska!!
- 2. Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statement, other than statements of historical fact, included herein including, without limitation, statement regarding anticipated completion of engineering studies, potential results of drilling and assays, timing of permitting, construction and production and other milestones, and Millrock’s future operating or financial performance are forward-looking statements. Estimates of reserves and resources area also forward-looking statements in that they involve estimates of the mineralization that would be encountered, based on interpretation of drilling results and certain assumptions, if a deposit were developed and mined. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Millrock’s expectations include financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and Native groups in the development of Millrock’s properties; the need to obtain permits and governmental approvals; risks of operations such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, fluctuations in metal prices and currency exchange rates, and other risks and uncertainties disclosed in Millrock’s Annual Information Form for the current year, filed with the Canadian securities and regulatory authorities, and in other Millrock reports and documents filed with applicable securities and regulatory authorities from time to time. Millrock’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Millrock assumes no obligation to update forward-looking statements of management beliefs, opinions, or other factors should they change. Qualified Person All technical information contained in this presentation was prepared, reviewed or approved by Gregory A. Beischer, President & CEO of Millrock Resources Inc. Mr. Beischer is a Qualified Person as defined in NI 43-101. LEGAL STATEMENTS 2
- 3. Management Projects • Commodities Gold, Copper • Jurisdictions Alaska USA, Sonora Mexico • Geologic Merit Capital Structure News Flow Project Generator Business Model Pure Exploration Early Stage Discovery Specialists A basket of exploration projects Early stage exploration has the highest risk, but also the highest potential reward 3 KEY INVESTMENT HIGHLIGHTS Millrock scores highly on all fronts
- 4. Minimize risk but keep shareholders exposed to the rewards of discovery. 4 Discovery creates tremendous increases in value Few discoveries are made – risk is high Project Generator Model increases exposure to discovery - mitigates risk by: 1. Developing multiple projects 2. Forming multiple joint ventures Highest risk money is the first round of drilling – funded by JV partners Millrock shareholder’s money is used for project generation RISK VS REWARD Project Generators Reduce the Risk
- 5. 5 PROJECT GENERATOR MODEL How It Works
- 6. SUCCESSFUL PROJECT GENERATORS Remarkable Investment Returns 6 Altius (ALS) 20 year chart Eurasian (EMX) 15-year chart Almaden (AMM) 20 year chart Virginia Gold Mines Discovered Eleonore – Sold mine to Goldcorp for $461M Then merge with Osisko in $460M deal $0.25 to $30.00 $0.55 to $3.55 $0.50 to $3.50 $0.50 to $5.00
- 7. 85% Partner Funded Since 2008, partners have funded 85% of all Millrock’s exploration. 15% Millrock Funded 7 LEVERAGING YOUR INVESTMENT
- 9. GREGORY BEISCHER President, CEO, Director PHIL ST. GEORGE Chief Exploration Officer KEITH GRANBERRY Chief Financial Officer ROLAND BUTLER Director, Geologist LARRY COOPER Director, Finance Executive PETER CHILIBECK Director, Attorney MANAGEMENT & DIRECTORS 9
- 10. Cash Position: $700K Share Price: ~$0.13 3-Month Volume: 273,000 Value of shares in other companies: $1.0M Royalties on five exploration-stage projects – paying AMRs Management fees & option payments offset overhead Major Shareholders Management 6% Strategic Investors 15% RedPlug Capital Group 20% Sprott Global & clients 9% EMX Royalties 9% Sandstorm 4% Kinross 2% Teck 1% Share Structure Shares Outstanding 115.2M Options 8.6M Warrants 54.4M Fully Diluted 178.1M Market Cap ~$15M 10 CAPITAL STRUCTURE
- 11. 11 OUTSTANDING GEOLOGICAL PEDIGREE LARGE AREA WITH LOW DEGREE OF PRIOR EXPLORATION MULTIPLE DEPOSITS OF GLOBAL SIGNIFICANCE STABLE & WELCOMING POLITICAL MINING CLIMATE 1 2 3 4 NATIVE LAND CLAIMS HAVE BEEN RESOLVED FOR MANY DECADES 5 REASONABLE ENVIRONMENTAL REGULATIONS AND PERMITTING 6 ALASKA RED DOG SECURITY OF TENURE, RULE OF LAW 7 Why Alaska? Rated 4th In The World By Fraser Institute PEBBLE FORT KNOX POGO LIVENGOOD DONLIN CK. KENSINGTON GREEN’S CREEK
- 12. Juneau Anchorage Fairbanks Nome Millrock Properties APEX 64NORTH LIBERTY BELL ALASKA RANGE PROJECT CHISNA 64North Gold Project has come to the forefront. 12 PROJECTS: ALASKA
- 13. Donlin Creek Coffee Nixon Fork White Gold Livengood Klaza Lone Star Brewery Ck Dublin Gulch Peak 12.5 Moz 1.3 Moz 45 Moz 1.54 Moz 4.5 Moz 1.24 Moz 4.09 Moz 1.2 Moz 0.2 Moz ~ 0.25 Moz 107 Moz Pebble Ft Knox +13 Moz Cleary Hill +7 Moz +10 Moz Pogo 64North is in the prolific Tintina – Goodpaster District. Land position surrounds Pogo Mine. Road access. GOODPASTER GOLD DISTRICT Tintina Gold Province – Alaska - Yukon Goodpaster District 13
- 14. Discovery 1995, Opened 2006 Northern Star Resources Ltd recently purchased from Sumitomo Metals Mining for $260M 8th largest gold mine in US and one of the highest- grade mines of scale in North America Produces 300,000 ounces Au annually >3.8 million ounces produced in 10+ years operation Average grade 13.6 g/t Au > 6 million ounces reserve/resource POGO MINE SUMMARY Pogo is a great mine! 14
- 15. “The best place to find a mine is in the shadow of a headframe.” Photo looking east at the Pogo Gold Mine from Millrock’s West Pogo property Shared claim boundary is 2 km from Northern Star’s new discovery. 64NORTH,WEST POGO BLOCK Aurora Target with Pogo In Background 15
- 16. GP TR HOG AT ST BD CS ER Northern Star property Pogo Mine Area of Interest Millrock holds a huge 660 square kilometer land package. 64NORTH PROJECT Millrock´s Claims & Prospects – 660 square km 16 West Pogo Focus Area
- 17. Millrock Claims (MRO) Northern Star Claims (NST) MRO NST MRO NST 10 million ounces of gold known at Pogo and growing fast. New Goodpaster deposit is currently being defined by Northern Star. Echo Target 17 MRO’s West Pogo Block Pogo Goodpaster WEST POGO BLOCK Pogo Mine Ore Bodies Projected to Surface ~10M+ Oz Au
- 18. ER TR HOG AT 0.5 m @ 63 g/t 1.5 m @ 5 g/t Shaw HV MRO NST MRO NST High grade gold being drilled by NST at Goodpaster. Dips shallow to northwest. Northern Star has drilled right up to the claim boundary Echo Target True Width Gold Grade X meters grams / tonne Thickness 8.90 5.00 44.50 0.30 170.10 51.03 2.20 28.10 61.82 2.00 44.50 89.00 4.00 67.50 270.00 5.20 1.70 8.84 0.60 100.10 60.06 5.20 9.50 49.40 0.30 129.00 38.70 1.80 13.20 23.76 1.30 27.50 35.75 Goodpaster Deposit Highlight Drill Intersections 18 Pogo Millrock Claims (MRO) Northern Star Claims (NST) Goodpaster WEST POGO BLOCK Goodpaster Deposit – High-Grade Northern Star Ground
- 19. ER TR HOG AT Shaw HV MRO NST MRO NST WEST POGO BLOCK Aurora Target - Current Drilling Echo Target Millrock Claims (MRO) Northern Star Claims (NST) Pogo Planned Drill Hole Loction Completed / Progressing Hole 20AU002 (Paused) 20AU001 (Complete) G Goodpaster 20AU003 (Progressing) MillrockClaims(MRO) NorthernStarClaims(NST) Aurora Target
- 20. Quartz veins with sulfides were intersected. Abundant alteration in upper 320 m. No thick veins but we have drilled into a Pogo-like system. 20 WEST POGO BLOCK Aurora Target – Hole 20AU001
- 21. 21 Drill helper putting drill core in box Hole 20AU004 – Aurora target – Half-Ounce Gulch
- 22. 22 Half-Ounce Gulch Drill pad for hole 20AU004 To be drilled ~950 meters below surface
- 23. 23 Drill in action at hole 20AU003 Note electric fence surrounding drill – bear deterrent
- 24. US$20 million expenditure to earn 60% over four years 38 million Resolution shares US$200K cash Year 1 US$5.0 million expenditure in 2020 Millrock operates; 8% management fee Resolution can take one block to 70% by free carrying all costs to BFS Resolution could take that one block to 80% by loan carry to Commercial Production Remainder of property will remain a 60-40 JV US$1 million must be spent outside West Pogo in each of Year 1 and 2 24 AGREEMENT WITH RESOLUTION MINERALS Converting a $500K investment
- 25. Drilling at 64North – West Pogo – Aurora Target – Two more holes Continued Gold Project Generation Fairbanks Project Developments Rising Gold Market 25 COMPANY CATALYSTS Fall 2020
- 26. 26 MELANEE HENDERSON INVESTOR RELATIONS Email: mhenderson@millrockresources.com Phone: Direct: 604-638-3164 Toll Free: 877-217-8978TSX.V: MRO OTCQB: MLRKF CONTACT US To Make An Investment or Learn More, Please Contact:
- 27. List of Outstanding Warrants and Strike Prices Warrants Dollar Value 6,970,000 Warrants @ $0.55 to December 2020 $3,833,500 52,289,268 Wts @ $0.17 to December 20201 $8,889,176 28
- 28. • Low Angle Veins (Liese 1-3, East Deep) • 5-20 m thick • Hosted in regional shear zone – compression with later extension for more dilation • Shear exploits mafic and graphitic rocks within gneiss • High Angle Veins (North Zone, X-Vein) • 1-5m thick • N-S/NE-SW oriented escape structures for pluton fluids • Free Milling Gold • Low Sulfide Quartz Vein ~ 3% pyrite, arsenopyrite, pyrrhotite, Bi-Te-S • Dolomite-sericite (dos) alteration halo • Magmatic fluid source Elevated gold/arsenic/bismuth anomaly Gold-bearing quartz veins Serpentinite, amphibolite Graphitic schist POGO MINE MINERALIZATION MODEL An Intrusion-Related Vein-Hosted Gold Deposit 29
- 29. GP TR HOG ST BD CS Pogo MineAT ER West Pogo Focus Area Numerous target areas but West Pogo is compelling! 64NORTH GOLD PROJECT West Pogo Focus Area 30
- 30. GP TR HOG ST BD CS Pogo MineAT ER US$15 million proprietary database gives Millrock a strong competitive advantage in the area. GOODPASTER DISTRICT EXPLORATION Millrock Database – Stream Seds and Soil Sample 31
- 31. GP TR HOG ST BD CS Pogo MineAT ER West Pogo Focus Area Numerous target areas but West Pogo is compelling! 64NORTH GOLD PROJECT West Pogo Focus Area 32
- 32. ER TR HOG AT GP CL HV MRO NST MRO NST Gneiss Granites Gneiss Schist Schist Gneiss Gneiss Pogo deposits occur near diorite intrusions (pink) in paragneiss (blue). WEST POGO BLOCK Mapping from DGGS, USGS 33 Millrock Claims (MRO) Northern Star Claims (NST) Pogo
- 33. ER TR HOG A T HV MRO NST Echo Target Holes target mag low (blue) near diorite (red-pink)on strike from Goodpaster at Aurora Target. WEST POGO AIRBORNE MAGNETICS Key: Mag Lows (bluish) near Diorite Intrusions (red) 34 Millrock Claims (MRO) Northern Star Claims (NST) Pogo 20AU002 (Paused) 20AU001 (Complete) Planned Drill Hole Loction Completed / Progressing Hole Goodpaster
- 34. U D U D U U D D ER TR HOG A T HV Strike trace at depth Strike 241/ Dip -35 MRO NST MRO NST Line3 Line6 Good geochemical support at Aurora target right on strike from Goodpaster. WEST POGO AIRBORNE MAGNETICS Strong Geochemical Anomalies in Soil Occur at Surface 35 Echo Target Millrock Claims (MRO) Northern Star Claims (NST) Pogo GP 20AU002 (Paused) 20AU001 (Complete) Planned Drill Hole Loction Completed / Progressing Hole Goodpaster
- 35. U D U D U U D D ER TR HO G A T Line3 HV MRO NST MRO NST Line6 CSAMT survey tells us the shallow-dipping structures are about 180 meter depth – confirmed. WEST POGO AIRBORNE MAGNETICS CSAMT Detects Pogo Shear Zone 36 Echo Target Millrock Claims (MRO) Northern Star Claims (NST) Pogo 20AU002 (Paused) 20AU001 (Complete) Planned Drill Hole Loction Completed / Progressing Hole Goodpaster
- 36. 37 Line 6 CSAMT Results Looking East Aurora Creek pronounced shallow-dipping conductor South of Aurora Creek, Coincident mag low On strike from Goodpaster Deposit Aurora Creek Shallow-dipping Conductor Coincident mag low Located northwest of Goodpaster deposit in down dip direction Hole 20AU001 Hole 1 (20AU001) explained conductive zone (red) faults with alteration and sulfides. WEST POGO CSAMT SURVEY RESULTS Line 6 37