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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Golden Gate | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-12-2018: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Golden Gate deposit at the Nullagine project. Drilling results incl. 13m @ 7.13g/t Au from 57.0m. Millennium Minerals Limited (ASX: MOY) (“Millennium” or the “Comp | |
| Resources: | (Resource, Total): 21.92Mt @ 1.6g/t Au for 1.107Moz contained at Nullagine | |
| CP/QP: | [Overall Report]: Andrew Dunn (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (ASX: MOY) (“Millennium” or the “Company”) is pleased to advise that ongoing drilling at the Golden Gate Mining Centre, part of its 100%-owned Nullagine Gold Project in Western Australia, is delivering very positive results, confirming its potential to form a major new mining hub that will form a key part of its future production plans. The Golden Gate Mining Centre is located approximately 36km north-east of the Nullagine processing plant (see Figure 1), and has delivered some of the highest-grade gold deposits mined at the Nullagine Project to date. Current drilling programs are designed to increase both the high-grade open pit and underground Resources at Golden Gate, with this area expected to deliver Millennium’s second underground mine at Nullagine, as well as providing an important source of ore for its Sulphide Expansion Project, putting the Company on-track to maintain its 100,000 ounce per annum production rate in 2019. The Company is targeting a Decision to Mine on the proposed underground development at Golden Gate by the end of 2018 with commissioning of the expanded sulphide plant on track for Q1 2019. Recent drilling has delivered high-grade results from the Condor Northwest, Condor and ABC Reef deposits (Figure 1) (refer to Appendix 1 for full list of significant results and hole details). Millennium Chief Executive Peter Cash said the results from Golden Gate added further momentum to the Company’s growth plans, which are aimed at maintaining the recently-achieved 100kozpa production rate and increasing mine life to at least five years. “The Golden Gate Mining Centre represents an important target for Millennium, with this region expected to deliver both our next underground mine and a key source of ore to underpin the sulphide plant expansion,” he said. “These very positive high-grade results confirm that both of these important strategies remain firmly on track. “Golden Gate has already delivered some of the highest-grade deposits mined at Nullagine to date, but only minimal drilling has been conducted outside the known deposits. We’re confident that our ongoing drilling programs will continue to expand the potential of this region,” he continued. | |
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