President and CEO of Millrock Resources (TSXV:MRO), Gregory Beischer, sat down with Sonia Madigan from The Market Herald to discuss the company’s upcoming second drilling campaign at the 64 North Project.
The 64 North Project is made up of 692 adjoining mining claims, which cover approximately 43,000 hectares. The company stated it has everything it needs to start the second drilling campaign on the project as it is well-funded through joint venture partners for exploration.
Previous work has been established on the project, with some samples taken. Although lacking significant gold grade, the tested vein was consistent with nearby “crowned jewel” Pogo mine style alteration and mineralization.
Most recently, the Pogo Mine resources and reserves stand at 6.9 million ounces of gold, with post-production of four million ounces of gold. The company is confident in its ability to drill into a gold-bearing structure. Millrock has close to nine projects in Alaska, five of which are funded by joint venture companies.
Beischer’s outlook includes gold experiencing weakness, a shakeout in the market that is long overdue. He sees the sector returning with the most significant boom cycle in the mining business.
With demand rising due to inflation, electrification, and battery manufacturing, gold continues its 2,000-year-old history as being a safe haven asset throughout the industry. Beischer expects silver and gold to come roaring back.