Millennium Minerals increases Nullagine gold project Resources
THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) has updated the gold Mineral Resources for the company’s Nullagine gold project.
The total project Mineral Resource (Measured, Indicated and Inferred) now stands at 47.13 million tonnes grading at 1.26 grams per tonne gold for approx. 1.9 million contained gold ounces, representing an increase of 6 per cent in grade, 36 per cent in tonnes and 44 per cent in ounces over previous declared totals.
Millennium has added a further 581,000 ounces of gold to the total project Mineral Resources from the All Nations, Golden Gate (ABCDReef), Condor, Crow, G Reef, Beatons Creek, Camel Creek Joint Venture (CCJV) and Au81 deposits.
The All Nations deposit:
Mineral Resource estimate:
2.23 million tonnes at 1.23g/t gold using a 0.5g/t gold cut‐off grade for 88,000 ounces contained gold;
Increase:
New estimate shows a 33 per cent increase, or an additional 22,000 ounces over the previous estimate;
JORC Code Classification:
Measured, Indicated and Inferred.
The Golden Gate (ABCD) deposit:
Mineral Resource estimate
0.95Mt at 3.1g/t gold using a 0.5g/t gold cut‐off grade for 95,000 ounces contained gold.
Increase:
38 per cent increase, or an additional 26,000 ounces over the previous estimate.
JORC Code Classification:
Measured, Indicated and Inferred.
The Condor deposit:
Mineral Resource estimate:
0.22Mt at 2.8 g/t gold using a 0.5 g/t gold cut ‐ off grade for 20,000 ounces contained gold.
Increase:
67 per cent increase, or an additional 8,000 ounces over the previous estimate.
JORC Code Classification:
Measured, Indicated and Inferred.
The Crow deposit:
Mineral Resource estimate:
0.12Mt at 2.65g/t gold using a 0.5g/t gold cut ‐ off grade for 10,500 ounces contained gold.
Increase:
An 88 per cent increase, or an additional 5,500 ounces over the previous estimate.
JORC Code Classification:
Measured, Indicated and Inferred.
The G Reef deposit:
Mineral Resource estimate:
0.05Mt at 3.7g/t gold using a 0.5g/t gold cut ‐ off grade for 6,200 ounces contained gold.
Increase:
A 210 per cent increase, or an additional 4,200 ounces over the previous estimate. Grade has increased 76 per cent due to high-grade intersections achieved in 2013.
JORC Code Classification:
Indicated and Inferred.
The Au81 deposit:
Mineral Resource estimate:
1.5Mt at 1g/t gold using a 0.5g/t gold cut ‐ off grade for 47,900 ounces contained gold.
JORC Code Classification:
Inferred.
The CC JV deposits:
Millennium attributable ounces at the CC JV have increased to 52,500 ounces, and tonnes to 1.34 million.
JORC Code Classification:
Measured, Indicated and Inferred.
The Beatons Creek deposit:
Located approximately 10 kilometres to the northwest of the ore processing facilities.
Initial Mineral Resource estimate of 421,000 ounces contained gold was previously released in May 2013.
JORC Code Classification:
Inferred.
“The company is pleased to note that not only was overall total gold increased by 581,000 ounces, but that the ratio of the ounces reporting to the Measured and Indicated Resources categories is still 62 per cent,” Millennium Minerals said in its ASX announcement.
“This is despite the substantial additional amount of Inferred Mineral Resources at Beatons Creek.
“The updates provide yet another year of material growth of Mineral Resources; since 2004, Millennium’s Mineral Resources have grown 283 per cent or 1.4 million ounces.
“The company believes there is still good potential to increase the Mineral Resource inventories at many of the deposits drilled to date, particularly at Condor and Au81.
“It also believes that it can add significantly to the inventory via new identified prospects at Nullagine, with drilling already planned to test some of these prospects.”
Email:
info@millenniumminerals.com.au
Website:
www.millenniumminerals.com.au