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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Golden Eagle | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-9-2018: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Golden Eagle deposit at the Nullagine project. Drilling results incl. 8m @ 18.91g/t Au from 20.0m. Millennium Minerals Limited (ASX: MOY) (“Millennium” or the “Com | |
| Resources: | (Resource, Total): 21.92Mt @ 1.6g/t Au for 1.107Moz contained at Nullagine | |
| CP/QP: | [Overall Report]: James Farrell (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (ASX: MOY) (“Millennium” or the “Company”) is pleased to advise that it has made another significant exploration breakthrough at its 100%-owned Nullagine Gold Project in WA. Recent drilling to test a new geological interpretation of the mineralisat ion controls at the Golden Eagle deposit has delivered outstanding high-grade assay results which have substantially upgraded the potential for significant increases in the Resource inventory at this flagship deposit. The new results have been returned in close proximity to current mining areas at Golden Eagle, where a significant pre-strip is in its final stages and mining of high-grade ore is about to commence. Recent drilling at Golden Eagle has confirmed the presence of a cross-cutting mineralised structure that runs oblique to the main mineralised lodes, with assay results returning broad, high-grade intercepts of gold mineralisation. Assay results from the drilling include: • 4m @ 15.34g/t Au from 23m including 1m @ 54.90g/t Au (GERC13443); • 8m @ 18.91g/t Au from 20m including 7m @ 21.45g/t Au (GERC13442); • 3m @ 18.18g/t Au from 12m including 2m @ 26.60g/t Au (GERC13444); • 1m @ 25.40g/t Au from 22m (GERC13445); • 4m @ 5.48g/t Au from 11m including 1m @ 18.40g/t Au (GERC13446); • 6m @ 3.73g/t Au from 24m including 2m @ 9.32g/t Au (GERC13441). The results indicate that, in addition to the previous interpretation of a series of parallel north-east trending mineralised lodes at Golden Eagle, the deposit may in fact contain a number of north trending cross-cutting structures. If confirmed, this new interpretation could deliver a significant uplift in both tonnes and grade within the deposit. Given that the pre-strip of Golden Eagle is currently well advanced, and the results fall within an existing pit shell, any increase in the resource could be rapidly incorporated into the mining schedule. | |
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