Sign up Australia
Proactive Investors - Run By Investors For Investors

Millennium Minerals reveals positive scoping results for Nullagine Gold

The company is aiming to fast-track a feasibility study for the Bartons Underground.
drilling
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.

View full MOY profile View Profile

Millennium Minerals Ltd Timeline

Newswire
December 31 2014

Related Articles

Mine
December 08 2017
King's Bay's drill core is already attracting significant interest, with assays due next month
diamond
January 30 2018
Tango Mining is looking forward to a strong 2018, as diamond production comes on stream from two mines
Picture of nickel symbol on periodic table
January 17 2018
Prineas flagged the potential development of a high margin low-cost mining operation.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use