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Millennium Minerals reveals positive scoping results for Nullagine Gold

The company is aiming to fast-track a feasibility study for the Bartons Underground.
Gold resource of more than 850,000 ounces

Millennium Minerals Ltd. (ASX:MOY) has completed a positive scoping study of the Bartons Underground development at its Nullagine Gold Project in Western Australia.

The results support Millennium’s strategy to increase Nullagine production and mine life based on more than 850,000 ounces of gold resource.

Based on the positive study results, the company has commenced a drilling program to upgrade the inferred resource to indicated status.

The proposed 17-hole program will test circa 420 metres of strike to a maximum depth of circa 240 metres vertically below surface, and is expected to take around six weeks to complete.

Results from this drilling will underpin and allow the completion of a fast-tracked feasibility study for the Bartons Underground, with the intention of commencing underground development in Q1 2018.

This represents the first proposed underground mining operation at the Nullagine Project.

Once the initial development is in place, Millennium will then look to drill out additional resource areas using underground diamond drill rigs.

This is expected to generate significant cost savings compared with drilling from surface.

The activities to further assess the recent high-grade intercepts at Bartons are progressing well, with a twin hole underway and a drill hole electro-magnetic survey to commence shortly.

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Millennium Minerals Ltd Timeline

December 31 2014

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