Millrock Resources Inc (OTCMKTS:MLRKF) (CVE:MRO) Stock Soars After Key Updates
Shares of Millrock Resources Inc (OTCMKTS:MLRKF) (CVE:MRO) closed higher in the previous session.
Market Stats
On Monday, MLRKF stock soared 13.31% to $0.0461 with more than 66k shares, compared to its average volume of 75k shares. The stock moved within a range of $0.0433 – 0.0463 after opening trading at $0.0433.
Millrock Announces the Nikolai Nickel–Copper–Chromium–Cobalt–Platinum Group Element Project, Delta Mining District, Alaska
Premier project generator to the mining industry, Millrock Resources Inc (OTCMKTS:MLRKF) (CVE:MRO) on February 14, 2022 confirmed on assembling an extensive land package in Delta River Mining District in Alaska. The Nikolai Project, has components such as nickel, copper, chromium and cobalt. Claims demonstrate potential for delineation as well as development of big tonnage deposit rich in nickel as well as other strategic metals.
Millrock President and CEO Gregory Beischer said that the company is excited on generating nickel-dominant project. Beischer added that the project also has some strategic and critical metals. Furthermore, the CEO added that companies like Canada Nickel and Group Ten Metals have a robust market success. Millrock is aiming to have similar success with Nikolai project.
One claim block covers underexplored and prospective Eureka zone. At the location, a zone of the all the above minerals was discovered by subsidiary of Inco. It was expanded by Pure Nickel Inc. (now Galleon Gold Corp.). Millrock ventured into option agreement on Canwell claims where rich grades of copper, nickel and platinum group elements are present.
Millrock’s Nikolai Project comprises of 146 State of Alaska Mining Claims. This covers 9,454 hectares in highly prospective and underexplored mineralized belt. The city of Delta Junction is 130 km to north of project and has several services supporting the Alaska mining community.
Key Quote
Millrock President and CEO Gregory Beischer commented: “Millrock is very pleased to have generated this nickel-dominant project which also has a variety of accompanying critical and strategic metals. Other companies such as Canada Nickel (current share price ~$2.33) and Group Ten Metals (current share price ~$0.36) have had strong market success by working on the development of geologically similar metal accumulations. Millrock aims to have similar success with the Nikolai project.”
Traders Corner
MLRKF stock is trading above the 20-Day and 50-Day Moving averages of $0.0451 and $0.0459 respectively. However, the stock is trading below the 200-Day moving average of $0.0562.
