Millennium Minerals full steam ahead at Nullagine
THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) recently reported assay results from RC drilling conducted at the Golden Gate (covering the Condor, Crow and Harrier deposits), within the company’s Nullagine gold project in Western Australia.
Millennium has recently commenced mining operations within the Golden Gate project area.
The company said results from the Condor deposit demonstrated multiple shallow, oxide intersections and ore-grade rock chip samples indicate excellent potential for substantial pit extensions along strike.
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Gold intercepts include:
8 metres at 7.39 grams per tonne gold from 22 metres, including 2 metres at 24 grams per tonne gold from 23 metres;
8m at 3.95g/t gold from 71m; and
7m at 4.29 g/t gold from 76m.
At the Crow deposit, results indicated a new parallel lode located to the southwest of the existing
Crow deposit.
Millennium considers there to be potential for either an additional pit, or extension to the southwest of the existing Crow pit design.
Gold intercepts include:
5m at 3.70 g/t gold from 49m;
6m at 2.79g/t gold from 64m; and
3m at 4.52g/t gold from 50m, including 2m at 6.53 g/t gold from 50m.
At the Harrier deposit, results indicated gold mineralisation is still open to the northwest of the deposit, where the company believes there is potential for modest extensions to the current pit design in this area.
Gold intercepts include:
21m at 6.96g/t gold from 6m, including 3m at 20g/t gold from 8m and 19m at 2.51g/t gold from 39m.
The company has 2,300m of further RC drilling planned at the Condor, Crow and Harrier deposits.
The Nullagine gold project has a 1.30 million ounce gold Mineral Resource and 712,800 ounce Ore Reserve contained within seven deposit areas on granted mining leases.
The largest deposit is Golden Eagle located approximately 10km south of the township of Nullagine and containing 62 per cent of the total Mineral Resource inventory.
The gold processing plant has a capacity of 1.5 million tonnes per annum and at forecast head grade of 1.7g/t gold is targeted to produce 78,000 ounces of gold annually.