Millennium Minerals confirms Au81 mineralisation and extends Golden Eagle

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THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) has received results from reverse circulation (RC) drilling carried out at the company’s Nullagine gold project, located in the East Pilbara district of Western Australia.

Millennium completed a combined total of 51 RC holes at the Au81 prospect and Golden Eagle deposit.

The company said the drilling had confirmed high-grades at the Au81 prospect, which it considers to demonstrate potential to form the next deposit at the Nullagine project.

The Au81 prospect is situated within two kilometres of the Golden Eagle processing facility.

 

Nullagine project location plan. Source: Company announcement

 

Highlights from the recent gold intercepts include:

–    22 metres at 12 grams per tonne gold from 14 metres, including 5 metres at 32 grams per tonne gold from 21 metres;

–    37m at 6.15g/t gold from 17m, including 7m at 12g/t gold from 18m; and

–    16m at 4.91g/t gold from 22m, including 2m at 17g/t gold from 31m.

Millennium indicated the results achieved at Au81 confirm the Main Zone high-grade shoot, with core gold grades of half to one ounce per tonne, saying the results validate historical intersections, confirm dips and highlight grades while demonstrating potential to form an economic deposit with further drilling.

The company also took delivery of results from drilling conducted at Golden Eagle.

This drilling encountered new intersections Millennium said had proven continuity of the Golden Eagle deposit footwall and main zone mineralisation at depth as well as demonstrating upside potential to expanded Resources and Reserves.

Gold intercepts from Golden Eagle include:

–    10m at 2.4g/t gold from 116m and 8m at 2.53g/t gold from 129m;

–    9m at 2.48g/t gold from 93m;

–    9m at 2.38g/t gold from 121m; and

–    7m at 2.98g/t gold from 106m, including 3m at 5.07g/t gold from 108m.

“The results demonstrate down dip continuity on both the Main Zone and Footwall zone of mineralisation,” Millennium Minerals said in its ASX announcement.

“They show potential to expand the Golden Eagle Resources and Reserves in two locations.

“Both of these areas also have good potential to deepen the adjacent pit designs with further drilling, with the effect of increasing the Resource and Reserve ounces and tonnes.

“Accordingly, a 500 metre follow-up program is being designed to further test these two areas.”