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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Nullagine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-1-2017: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Nullagine deposit at the Nullagine project. Drilling results incl. 9m @ 8.15g/t Au from 0m. Further to its exploration update of 23 January 2017, Millennium Minera | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Dunn (Internal) | |
| ABSTRACT: | Further to its exploration update of 23 January 2017, Millennium Minerals Limited (Millennium or Company – ASX: MOY) is pleased to advise that its near-mine exploration strategy at the Nullagine Gold Project (Nullagine or Project) in WA’s Pilbara region (Figure 1) has delivered additional strong results, highlighting the potential for resource growth across three mining centres. While the recent announcement (ASX Release 23/01/17) focused on newly discovered areas at the Middle Creek and Camel Creek Mining Centres, which will be the focus of resource drilling this year, this announcement. reports on highly encouraging new results from in-fill and follow-up drill programs from three deposits within the Five-Mile, Golden Gate and Golden Eagle Mining Centres. Results from these drilling programs have yet to be incorporated into the Company’s Mineral Resource and Ore Reserve statements (ASX Release 27 October 2016), which demonstrated that Ore Reserves had already increased by 16 per cent to 184,300 oz and Mineral Resources had risen by 12 per cent to 1.2 M oz. Importantly, around 75 per cent of the 1.2 M oz Mineral Resource is in the Measured and Indicated category. As results are received on individual deposits, the new drilling will progressively enable updated Mineral Resource estimates to be calculated and included in the Company’s Mineral Resource and Ore Reserve inventories. Some of the drilling results reported in this announcement will be included in the annual Mineral Resource update (due to be released in February 2017), with others to be included in subsequent updates. Millennium Chief Executive Glenn Dovaston said the latest results continued to highlight the success of the Company’s aggressive exploration strategy at Nullagine. “The new results from Majuba Hills, Condor and Agate are significant because they once again demonstrate the success we are having with our ongoing drilling programs focused on discovering more gold in close proximity to our processing facility,” he said. | |
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