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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Golden Gate | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-5-2018: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Golden Gate deposit at the Nullagine project. Drilling results incl. 9m @ 28.47g/t Au from 5m. Millennium Minerals Limited (Millennium or the Company – ASX: MOY) i | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Not stated (n/a) | |
| ABSTRACT: | Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is pleased to advise that recent drilling at the historic Golden Gate Mining Centre at its Nullagine Gold Project has highlighted the potential for the area to be re-established as a high-grade oxide mining centre. An extensive reconnaissance Reverse Circulation drilling program across the Golden Gate area, which is located 35km from the Nullagine Processing Plant, has returned encouraging results across several entirely new prospect areas – all of which will be followed up with aggressive drilling programs. The Golden Gate Mining Centre, which was last mined in 2013, was one of the highest-grade oxide open pit ore sources ever mined at Nullagine, and the discovery of new oxide mineralisation represents a significant development. Golden Gate also contains deeper sulphide mineralisation at the ABC Reef, Condor, Crow and D Reef prospects which will be targeted for future development as part of the Company’s Sulphide ore expansion and underground mining strategy. The discovery of new oxide mineralisation at Golden Gate further reinforces the outstanding upside potential of the Nullagine Project area and supports Millennium’s strategic objective of increasing production to 100,000ozpa over a minimum five-year mine life. The Company has devoted significant attention to exploration at the Golden Gate Mining Centre this year in light of the highly encouraging results from field mapping and rock chip sampling in late 2017 (see ASX announcement 12 December 2017). The aim of this exploration activity is to re-establish a mining centre with other high-grade sources to complement the Condor Northwest deposit (see ASX announcement 26 April 2017) and Billjim South prospect (see ASX announcement 26 April 2017). Billjim South has yet to have its maiden MRE completed. Further mapping and rock chip sampling since the 12 December 2017 ASX announcement has identified additional targets including: | |
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