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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Redbeard | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-6-2018: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Redbeard deposit at the Nullagine project. Drilling results incl. 14m @ 7.62g/t Au from 23m. Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is | |
| Resources: | (Resource, Total): 278.5Kt @ 3.0g/t for 25.2Koz Au contained | |
| CP/QP: | [Overall Report]: Andrew Dunn (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is pleased to advise that it is set to bring its sixth mining centre at the Nullagine Gold Project in WA (Figure 1) on stream next month, with mining scheduled to commence at the high-grade Redbeard oxide deposit, located within the Twenty Mile Sandy Mining Centre, in late July (Figure 2). The start of production at Redbeard is consistent with Millennium’s focus on transitioning to larger, higher grade ore sources at Nullagine as it ramps up towards a 100,000ozpa production run rate by the end of this year. Redbeard is one of the highest grade oxide deposits at Nullagine and forms part of what appears to be an emerging cluster of high-grade exploration targets within the Twenty Mile Sandy Mining Centre. Recent grade control drilling has delivered an increase in Resource grade at Redbeard. The Redbeard Mineral Resource now stands at 278,500 tonnes grading 2.8g/t Au for 25,200 ounces of contained gold – double the average grade of Millennium’s global Resource base at Nullagine. With mining on track to commence at Redbeard in July, drilling is now underway to expand the Twenty Mile Sandy region’s high-grade Mineral Resource base, with outstanding first-pass results achieved from the nearby Calico Jack and Sunday targets and deeper RC drilling to commence shortly to test for extensions to the Redbeard deposit at depth. | |
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