Millennium Minerals Limited has made another ‘significant’ exploration breakthrough at its 100 per cent owned Nullagine Gold Project in Western Australia.
Millennium commenced drilling at the Golden Eagle deposit to test a new geological interpretation of the deposit’s mineralisation controls. Following this, the company advised that drilling activities delivered ‘outstanding’ high-grade assay results.
The new results were returned near current mining areas at Golden Eagle, where a significant pre-strip is in its final stages and mining of high-grade ore will soon commence.
Recent drilling at Golden Eagle has confirmed the presence of a cross-cutting mineralised structure, with assay results returning broad, high-grade intercepts of gold mineralisation.
The results indicate that, the deposit may, in fact, contain numerous north trending cross-cutting structures. If this is confirmed, Millennium has said this new interpretation could deliver a ‘significant uplift’ in both tonnes and grade within the deposit. An increase in the resource could likely be rapidly incorporated into the mining schedule, given that the pre-strip of Golden Eagle is well-advanced, and the results fall within an existing pit shell.
The discovery resulted from both mapping and geophysical modelling, which were completed as part of Millennium’s ongoing reinterpretation of its existing exploration datasets. Further drilling is set to be conducted later this month, to extend the known strike and dip lengths of this high-grade mineralisation. Further drilling will also be conducted to test similar structural positions identified by the mapping program.
Millennium Chief Executive Peter Cash said the reinterpretation of the Golden Eagle deposit, while it’s still in early days and there’s more work to be done, it could be a genuine game-changer for the company.
“If drilling confirms the presence of multiple high-grade cross-cutting mineralised structures within the deposit, we could be in a position to rapidly expand the near-term mining inventory, with Golden Eagle set to re-enter the production schedule later this year.”
Mr Cash said Millennium intends to conduct additional drilling as an immediate priority to test this theory.
“Following the discovery of a major new greenfields exploration target at Golden Eagle South West late last month, this represents the second major exploration breakthrough delivered through the reinterpretation of our exploration datasets,” he explained, “we are continuing to review data across the Nullagine Project area, where we believe there is outstanding potential to identify new discoveries.”
More information on the announcement can be found here.
