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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Redbeard | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-1-2018: Millennium Minerals Ltd. announces a Resource Estimation report for its Redbeard deposit at the Nullagine project. Initial Mineral Resource for the Redbeard Deposit along with drilling results. Millennium Minerals Limited (Millennium or the Com | |
| Resources: | (Resource, I+I): 245.7Kt @ 2.61g/t Au for 20.6Koz contained at Redbeard deposit | |
| CP/QP: | [Resources]: Graham de la Mare (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is pleased to advise that its aggressive exploration commitment at its 100%-owned Nullagine Gold Project in Western Australia (Figure 1) continues to pay strong dividends, with outstanding new exploration results being generated from across the project. Recent drilling at the ABC Reef, Crow and D Reef prospects, all part of the Golden Gate Mining Centre (Figure 1), has intersected further high grade mineralisation below existing open pits, demonstrating the potential for future underground mining. Of particular note are some outstanding new intersections returned from beneath the Crow pit, including: The Company has also completed an initial Indicated and Inferred Mineral Resource comprising 245,700 tonnes grading 2.6g/t Au for 20,600oz of contained gold (see Table 1 below) for the Redbeard oxide discovery, less than two months after the prospect was first drilled in November 2017. This demonstrates the exceptional potential to discover shallow, high-grade oxide deposits at Nullagine in areas that, until recently, have received very little modern exploration. It also demonstrates the capability of Millennium’s exploration team to rapidly advance exploration opportunities from concept to resource-level deposits with near-term mining potential. Recent drilling across a number of prospect areas within the Golden Gate Mining Centre (Figure 1) has highlighted the potential for future underground mining below existing open pits and/or cutbacks of these pits (Figure 2 and Figure 3) | |
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