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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Majuba Hill, Condor NW, Billjim South, Buzzard | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-4-2017: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Majuba Hill, Condor NW, Billjim South, Buzzard deposit at the Nullagine project. Drilling results incl. 10m @ 14.52g/t Au from 9m. Millennium Minerals Limited (Mil | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Dunn (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (Millennium or Company – ASX: MOY) is pleased to report that ongoing exploration drilling at its Nullagine Gold Project (Nullagine or Project) in WA’s Pilbara Region continues to generate strong results which will underpin a potential increase in the inventory and mine life. Thick intersections of high-grade gold have been made at the Condor Northwest, Buzzard, and Billjim South areas of the Golden Gate Mining Centre, as well as the Majuba Hill area of the Five Mile Mining Centre (Figure 1). Results returned are detailed throughout this report. In light of strong results received through recent months, Millennium has increased its 2017 exploration budget from A$15 million to A$22 million. This is aimed at accelerating both the growth in the Nullagine inventory and the process of upgrading the Resource categories. Millennium Chief Executive Peter Cash said the latest results provided more evidence that the Company’s exploration strategy would create significant value for shareholders. “These results from the Golden Gate and Five Mile Mining Centres show that we are laying the foundations for increased mine life at Nullagine,” Mr Cash said. “The Project continues to return high-grade, near-surface gold intercepts in new areas as well as at previously identified deposits, confirming their continuity and amenability to open-pit mining. “At the same time, work continues on assessing the potential to process fresh ore, as well as the viability of underground operations. Millennium looks forward to providing an update to the market regarding these studies in the near future”. | |
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