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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Nullagine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-6-2016: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Nullagine deposit at the Nullagine project. Drilling results incl. 4m @ 43.00g/t Au from 43m at Anne de Vidia. Millennium Minerals Limited (Millennium or Company – | |
| 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 advise that the latest round of drilling at its 100 per cent-owned Nullagine Gold Project in WA has returned outstanding high-grade results from every prospect tested (Figure 1). The results continue to outline both extensions to known mineralisation and new mineralisation adjacent to well-established deposits and mining centres. These results will be combined with those released previously and those to come from the ongoing drilling program to calculate an updated Mineral Resources and Ore Reserves for publication in October 2016. The previously announced $10 million exploration campaign is aimed at growing the mine life at Nullagine, where Millennium is on track to meet its guidance of producing 80,000 oz -85,000 oz of gold at an all-in sustaining cost of A$1180/oz-A$1220/oz this calendar year. Millennium has had three RC drilling rigs as well as a diamond rig (where required) operating at the Project for most of 2016 to assist with delineation of new Mineral Resources. Millennium last reported exploration results as part of its March 2016 Quarterly Activities report (ASX release 26 April 2016) and since that time has drill-tested several high-priority targets located close to existing mining centres and the Project’s Golden Eagle processing plant. The latest rounds of drilling have focused on several near-mine opportunities at the All Nations, Anne de Vidia, Hut, Crossing, Linq, Pan, Federation and Golden Eagle South deposits, all of which are close to existing mining centres at Nullagine. | |
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