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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	MOY
Latest Price:	0.02 (0.00%)
52-week High:	0.02
52-week Low:	0.01
Market Cap:	65.55M

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Millennium Minerals Full Millennium Minerals profile here

Millennium Minerals (ASX:MOY) is an emerging metals company focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia.

The high-quality portfolio encompasses a large gold inventory and a secondary molybdenum project.

Millennium Minerals: drilling kicks off at joint venture partner’s gold deposits

Thursday, November 17, 2011 by Angela Kean

Millennium Minerals (ASX: MOY) and joint venture partner Northwest Resources (ASX: NWR) have begun drilling at three of Northwest’s Camel Creek Trend gold deposits at the Nullagine Gold and Antimony Project.

The program comprises approximately 5,600 metres of reverse circulation drilling and is aimed at confirming strike and dip extensions to the current mineral Resources defined at the three deposits – Junction, Roscoes Reward and Little Wonder.

It is also aimed at improving the Mineral Resource categorisations through infill drilling to enable maiden ore Reserve estimates to be prepared in the second quarter of 2012.

The drilling program is expected to take around four weeks to complete with assay results expected in January 2012.

A second reverse circulation drilling program is planned for the first quarter of 2012 to test extensions to the Round Hill joint venture deposit after completion of a detailed structural mapping program.

Millennium Minerals/Northwest Resources JV

The start of drilling follows close on the heels of the signing of a non-binding heads of agreement between Northwest and Millennium for a 50:50 joint venture.

Both companies are developing gold projects in the Nullagine Goldfield, in the eastern Pilbara region of Western Australia.

Under the joint venture, Northwest’s Camel Creek Trend gold deposits will be mined and processed by Millennium through its Golden Eagle treatment plant, which is currently under construction.

Golden Eagle is expected to start production in the September quarter of 2012, producing 80,000 ounces of gold per year over an initial 7.5 year mine life.

Northwest’s Camel Creek Trend open pit deposits are a natural fit with Millennium’s project, sharing the same geology and mineralisation style as Millennium’s satellite deposits located along the Camel Creek Trend.

Millennium will manage the joint venture which is anticipated to commence mining at the joint venture deposits in early 2015.

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