Millennium Minerals claims new Nullagine gold discovery

/in /by

THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) claimed discovery of a 2.25 kilometre-long zone of mineralisation at the company’s Nullagine gold project in the Pilbara region of Western Australia.

Millennium Minerals said the drilling results highlight potential to establish open pit operations along this trend, which stretches from the All Nations North deposit in the north-east to the Hopetoun deposit to the south-west.

Results received to date include:

EDRD034
20 metres at 2.51 grams per tonne gold from 28m, including 1m at 5g/t gold;

HNRD046
6m at 5.73g/t gold from 52m, including 3m at 9.41g/t gold;

EDRD107
4m at 3.33g/t gold from 3m, including 1m at 12.7g/t gold;

EDRD076
4m at 2.75g/t gold from 4m, including 1m at 5.29g/t gold;

EDRD077
6m at 2.42g/t gold from 24m, including 1m at 7.93g/t gold;

EDRD069
8m at 2.03g/t gold from surface, including 1m at 6.11g/t gold; and

EDRD062
2m at 5.93g/t gold from 4m, including 1m at 11.3g/t gold.

The recent drilling also returned strong results from Majuba Hill and Billjim South, both of which are close to the project’s existing mining centres.

Results include:

Majuba Hill:

FMX855
6m at 8.28g/t gold from 69m, including 3m at 15g/t gold;

FMX855
11m at 2g/t gold from 45m, including 1m at 6.81g/t gold;

FMX851
6m at 5.49g/t gold from 20m, including 1m at 20.7g/t gold;

FMX854
2m at 17.88g/t gold from 39m, including 1m at 34.5g/t gold;

FMX854
1m at 19.65g/t gold; and

FMX835
18m at 1.95g/t gold from 7m, including 1m at 12.55g/t gold.

Billjim South:

BJSRD006
7m at 8.5g/t gold from 54m, including 2m at 24.75g/t gold;

BJSRD013
8m at 4.19g/t gold from 41m, including 1m at 12.95g/t gold;

BJSRD015
15m at 2.13g/t gold from 16m, including 1m at 9.88g/t gold;

BJSRD015
3m at 8.91g/t gold from 54m, including 2m at 13.1g/t gold; and

BJSRD007
2m at 10.63g/t gold from 10m, including 1m at 16.55g/t gold.

“This discovery is incredibly exciting,” Millennium Minerals chief executive Glenn Dovaston said in the company’s announcement to the Australian Securities Exchange.

“The results are strong and demonstrate the presence of mineralisation along this 2.25 kilometre stretch.

“Once we get the final assays from this program, we will devise a strategy to establish the full extent of the mineralisation and its potential to be part of the inventory and mine plan at Nullagine.”

On the back of the success of the company’s exploration program and the positive impact it has had on the Nullagine project’s mine life, Millennium declared it has increased its 2016 exploration budget by around $4 million to $13.9 million with a similar expenditure expected next year.

Email: info@mmltd.com.au

Website: www.millenniumminerals.com.au