Millennium adds to exploration budget at Nullagine
PERTH (miningweekly.com) – ASX-listed gold miner Millennium Minerals has heaped another A$4-million onto is 2016 exploration budget, bringing it to a total A$13.9-million, following the success of an exploration programme at a newly discovered 2.25 km zone of mineralisation at the Nullagine project, in Western Australia.
Millennium told shareholders on Thursday that drilling results from the mineralised zone highlighted the strong potential to establish openpit operations along the trend, which stretched from the All Nations North deposit, to the north-east of the Hopetoun deposit to the south-west.
Recent drilling also returned strong results from the Majuba Hill and Biljim South deposits, both of which are close to the Nullagine mining centres.
CEO Glenn Dovaston told shareholders that the discovery of significant mineralisation along the Hopetoun-Endeavour trend provided further evidence that the strategy to grow the Nullagine mine-life was working.
“The discovery is incredibly exciting. The results are strong and demonstrate the presence of mineralisation along this 2.25 km stretch.
“Once we get the final assays from this programme, we will devise a strategy to establish the full extent of the mineralisation and its potential to be part of the inventory and mine plan at Nullagine.”
Millennium’s exploration spend for 2017 is expected to be in the range of A$14-million.
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