Mining Stock News: Millbank Mining (TSXV: MILL) Announces Results from IP Geophysical Program at Arthur Lake
Vancouver, British Columbia - May 17, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Millbank Mining Corp. (TSXV: MILL) ("Millbank" or the "Company") is pleased to announce it has received the results and interpretations from an Induced Polarization (IP) and Resistivity survey completed in December 2021 on its wholly-owned Arthur Lake property located near Vanderhoof, British Columbia.
The survey was completed by Peter E. Walcott & Associates ("Walcott") and consisted of 9.6-line-kilometres of surveying including three north-south (N-S) lines testing the Southwest Anomaly and four east-west (E-W) lines testing the Copper Enrichment and Granitic Plug Anomalies. Due to severe weather and environmental conditions, only 9.6-line-kilometres of the planned 12-line-kilometres was able to be completed.
Overall, while the IP survey was unable to uncover responses typically identified with porphyry copper mineralization, a number of linear, moderately- to steeply-dipping zones of high resistivity were identified in both the N-S and E-W lines which may warrant further investigation.
"While initial results were not as robust as we would have expected, there were a number of areas that provide an opportunity for further investigation," commented Benjamin Asuncion, CEO of Millbank Mining. "Our team continues to evaluate potential targets at Arthur Lake as well as other opportunities to enhance Millbank's project portfolio."
The technical content of this New Release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a consultant to the Company and a Qualified Person under National Instrument 43-101.
About Millbank Mining Corp.
Millbank Mining is a mineral exploration company focused on it's wholly-owned and royalty-free Arthur Lake property located near Vanderhoof, British Columbia. The Arthur Lake property consists of three claim units totaling 1,050 hectares which was acquired by directly by staking.
On behalf of Millbank Mining
Benjamin Asuncion, Chief Executive Officer
This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to any ongoing exploration programs, timing of such programs, or exploration results. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company's regulatory filings available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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