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Millennium Minerals Ltd.
Summary
| Project: | Nullagine | |
|---|---|---|
| Deposit: | Sunday, Shearers North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-5-2018: Millennium Minerals Ltd. announces an Exploration/Drilling Update report for its Sunday, Shearers North deposit at the Nullagine project. Drilling results incl. 21m @ 3.38g/t Au from 32m. Millennium Minerals Limited (Millennium or the Company – | |
| Resources: | (Resource, I+I): 245.7Kt @ 2.6g/t Au for 20.6Koz contained at Redbeard deposit | |
| CP/QP: | [Overall Report]: Andrew Dunn (Internal) | |
| ABSTRACT: | Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is pleased to advise that exploration at its Nullagine Gold Project in WA is continuing to deliver compelling results, with reconnaissance exploration identifying two new high-priority exploration targets in the Twenty Mile Sandy region, and drilling significantly extending the mineralised zone at Shearers North. The results further reinforce the outstanding prospectivity of the Nullagine Project area and support Millennium’s strategic objective of increasing production to 100,000ozpa over a minimum five-year mine life. Millennium is conducting ongoing exploration over the Twenty Mile Sandy region, located approximately 40km north-east of the Nullagine processing plant (see Figure 1). Twenty Mile Sandy hosts the recently-discovered high-grade Redbeard oxide deposit (Indicated and Inferred Resource of 245,700t at 2.6g/t Au for 20,600oz – see ASX Announcement 22 January 2018), but has seen very little previous drilling. Current exploration is aimed at delineating further high-grade oxide Resources that are analogous to the Redbeard deposit, with activities comprising mapping and rock chip sampling of the larger targets to help understand the geological and structural setting of the area. In addition, Millennium has integrated available datasets (geochemistry, geophysical and hyperspectral) to evolve its understanding of controls on mineralisation within the mining centre. Two key targets areas (Sunday and Calico Jack – see Figure 2) were selected for preliminary assessment, with initial work returning very encouraging rock chip results in an area of subdued topography. | |
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