millrock resources - corporate presentation - october 2014 (without notes)

26

Upload: millrock-resources

Post on 02-Jul-2015

797 views

Category:

Business


0 download

DESCRIPTION

Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. Millrock currently has twenty-two active exploration projects, eight gold-copper and zinc properties in Alaska, a porphyry copper prospect in Arizona, a uranium project in New Mexico, and twelve gold, silver and copper projects in Mexico. Funding for Millrock’s exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: First Quantum, Teck, Kinross, Vale, Inmet and Altius.

TRANSCRIPT

Page 1: Millrock Resources - Corporate Presentation - October 2014 (without notes)
Page 2: Millrock Resources - Corporate Presentation - October 2014 (without notes)

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.

Qualified Person Statement

Page 3: Millrock Resources - Corporate Presentation - October 2014 (without notes)

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.

Forward-Looking Statements

Page 4: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Management

Projects:

• Commodities

• gold, copper, uranium

• Jurisdictions

Alaska, Southwest USA, Mexico

• Geologic Merit

Capital Structure

News Flow

Project Generator Business Model

Pure Exploration, Early Stage Discovery Specialists

Key Investment Highlights

Early stage exploration has the highest risk, but also the highest potential reward

Page 5: Millrock Resources - Corporate Presentation - October 2014 (without notes)

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

Minimize risk but keep shareholders exposed to the rewards of discovery.

Page 6: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Project Generator Model

Page 7: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Business Partners

Page 8: Millrock Resources - Corporate Presentation - October 2014 (without notes)

10% 10%

34%

$15.3M In exploration

$9.5M In exploration

$2.4M In exploration

90% Partner Funded

90% Partner Funded

66% Partner Funded

2011 2012 2013

Percentage of partner funding Percentage of Millrock funding

Exploration Expenditures

Page 9: Millrock Resources - Corporate Presentation - October 2014 (without notes)

$4.8M cash on hand

Mgmt. fees & option payments offset overhead

Share Price (October 2014) ~$0.50

3-Month Average Volume: 128,000

Share Structure

Shares Outstanding 19.7M Options 497K Warrants 12.0M Fully Diluted 32.6M Market Cap $9.8M

Capital Structure: Post-finance

Major Shareholders

Management 5% Altius/Cranberry 11% Sprott-Global 9% Casey 9% Tognetti 8% Pembrook 8% Kinross 3% Teck 2% Strong Hands 25%

Page 10: Millrock Resources - Corporate Presentation - October 2014 (without notes)

GREGORY BEISCHERPresident & CEO Director

SARAH WHICKERExecutive VP

PHIL ST. GEORGEChief Exploration Officer

KEITH GRANBERRYChief Financial Officer

Management Team

Page 11: Millrock Resources - Corporate Presentation - October 2014 (without notes)

ROLAND BUTLERGeologist

DARRYL CARDEYFinance Executive

LARRY COOPERFinance Executive

PETER CHILIBECKAttorney

Management Team

Page 12: Millrock Resources - Corporate Presentation - October 2014 (without notes)

ESTELLE CRISTO

STELLAR

FORTY MILE

Millrock Properties

HUMBLE

AUDN

AK PENINSULA

Projects: Alaska

LISBURNE

Page 13: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Ivanoff Bay

Perryville

Chigniks

Sand Point

Alaska Peninsula: Summary

Page 14: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Main Occurrences of Interest: •  Bee Creek •  Kawisgag •  Mallard Duck

Kawisgag

Bee Creek

MallardDuck Bay

Pyramid

Alaska Peninsula: Summary

Page 15: Millrock Resources - Corporate Presentation - October 2014 (without notes)

•  Zoned potassic, sericitic and propylitic alteration in surface exposures

•  Multi-phase diorite stock (~ 3.6 Ma) intrudes hornfelsed sediments (Jurassic Naknek Fm)

•  “A” (biot-qtz-py-cp) and “B” (qtz-mo-py) style veinlets and disseminated sulfides

•  Geochemical anomalies in Cu, Mo, Au

Historic work on property: •  Recon surface sampling •  Regional & property scale mapping •  IP survey (3 lines) •  Detailed ground magnetic survey •  Drilling (9 holes)

Bee Creek Prospect

Page 16: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Hole ID Int. (m)

Au ppm

Cu ppm

Mo ppm

Comments

BC06-08 34.0 0.085 2584 41 Hfls + less Qz Diorite

BC06-09 118.0 0.126 3098 86 Hfls + less Qz Diorite and Andesite

BC06-09 76.0 0.166 4002 93 Centered on 2 faults, small And dike

BC06-09 40.0 0.212 5106 81 Hfls, centered on 2 faults

BC06-09 20.0 0.255 6607 76 Second. Cu, centered on upper fault

•  Bear Creek Mining (1976) – 5 holes •  BC76-02 – 500’ avg – 0.25% Cu, 113 ppm

Mo, 0.062 ppm Au

•  Full Metal Minerals/Metallica (2006) – 4 holes •  BC06-06 and BC06-07 – no sample

recovery due to poor drilling conditions

A-veinlet stockwork cutting intensely biotized hornfels in hole B-2.

A-veinlets (quartz-K-feldspar-pyrite) stockwork is cut and offset by cm-thick quartz-MoS “B” veinlet.

Bee Creek Prospect: Drilling

Page 17: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Contour Interval: 100 feet

Anomaly from 2014 data measures ~4km x 3km

Total Field & Soil Anomalies

Page 18: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Bee Creek 2005 Geo IP Survey

Page 19: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Completed: Complete compilation of all existing data Identify data gaps – layout multi-year program Systematic property-wide exploration approach – partner-funded Surface sampling, mapping, drill testing.

Next steps:

AK Peninsula: Next Steps

Mallard Duck BayDrilling

KawisgagDrilling

Bee CreekDrilling

Page 20: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Millrock Properties

Projects: Mexico

Page 21: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Millrock Properties

Rio Sonora

Page 22: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Catalysts

Fall 2014: Exploration at AK Peninsula First Quantum decision point Agreement on Stellar Project, Alaska (?) New Strategic Alliance – high grade gold Rio Sonora surface work Agreement on Los Chinos project, Mexico

Winter 2015: Drilling Rio Sonora Drilling Los Chinos

Summer 2015: Drilling AK Peninsula Advance Lisburne project

Goal: Have a drill turning throughout the entire year

Page 23: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Solid & focused foundation

Share price / development stage

Potential market change

News flow – lots of drilling coming up

Commodities – Gold, Copper, Uranium

Why Invest Now?

Page 24: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Brien Lundin – The Gold News Letter (5/23/2014)”Millrock appears to be getting aggressive, and it remains a buy.”

Jay Taylor (5/11/2012)"The company has some very large companies as joint venture partners, which I always like to see, because the big guys are looking for major deposits; major deposits make small market cap companies' share prices fly off the charts.”

Shane Lasley – North of 60 Mining (6/24/2012)“The project-generator model is allowing the company to capitalize on its exploration expertise and first-hand geological knowledge of Alaska and southeastern Arizona. . .and Millrock's skillful execution of the project generator model allows it cover the larger portion of its overhead through the collection of fees from its partners."

Coverage

Page 25: Millrock Resources - Corporate Presentation - October 2014 (without notes)

Millrock Resources – MRO.V

Anchorage:P.O. Box 200867 Suite C – 719 E 11th Ave. Anchorage, AK 99520 Office (907) 677-7479 Fax: (907) 677-3599 Vancouver:Suite 800 - 789 W. Pender St. Vancouver, BC V6C 1H2 Office: (604) 638-8164 Fax: (907) 677-3599 TF: (877) 217-8978 www.millrockresources.com [email protected]

Contact Information

Page 26: Millrock Resources - Corporate Presentation - October 2014 (without notes)