Millennium Minerals Declares New Nullagine Gold Discovery

THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) declared outstanding results from ongoing exploration programs across the company’s 100 per cent-owned Nullagine gold project in Western Australia.

Millennium Minerals carried out a program of follow-up drilling within the Yates trend, part of the Twenty Mile Sandy Mining Centre located approximately 40 kilometres north-east of the company’s Nullagine processing plant.

Millennium said the drilling results produced the discovery a new high-grade zone of shallow gold mineralisation.

The company originally identified the Yates trend by way of a regional soil sampling program.

The trend was identified as being coincident with a gold-arsenic-Antimony anomaly.

Geological mapping defined a 2.5km long trend, from which rock chip sampling returned high-grade results of up to 16.4g/t gold.

Drilling under the area of highest-grade rock chips returned high-grade intercepts, including:

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8 metres at 8.44 grams per tonne gold from surface, including 7m at 9.32g/t gold from surface;

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10m at 5.79g/t gold from 15m, including 5m at 9.09g/t gold from 18m, void from 12-15m; and

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5m at 4.03g/t gold from 38m.

Millennium has named the prospect Redbeard, and further drilling is now underway along strike to further define the extent of the mineralised zone.

Millennium also completed drilling at Bartons Underground designed to upgrade the current Inferred Mineral Resource to Indicated status as part of an ongoing Feasibility Study.

This drilling returned visible gold in core as well as a series of high-grade results, including:

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10.5m at 38.64g/t gold from 164m, including 5m at 79.96g/t gold from 164m with visible gold in core;

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1.6m at 3.56g/t gold from 181.4m, including 0.7m at 7.06g/t gold from 182.3m with visible gold in core; and

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6m at 7.72g/t gold from 153m, including 1m at 38.8g/t gold from 155m.

“These latest results are a major boost to our growth initiatives, delivering a new greenfields gold discovery at Redbeard and providing strong support for our plans to establish our first underground mining operation at Bartons early next year,” Millennium Minerals chief executive Peter Cash said in the company’s announcement to the Australian Securities Exchange.

“This puts us in an exceptionally strong position to deliver on our growth objective, aimed at delivering a five-year mine life at Nullagine based on production of 100,000 ounces per annum.”

 

Email: info@mmltd.com.au

 

Website: www.millenniumminerals.com.au