Millennium Minerals intersects up to 37g/t gold at All Nations deposit
Millennium Minerals (ASX: MOY) has intersected new multiple thick and high grade intersections of up to 37 grams per tonne gold at the All Nations deposit of its Nullagine Gold Project in Western Australia.
This highlights the deposit’s potential for large shoots at moderate depths and at surface along strike to the north that could add to current Resources and Reserves.
The All Nations deposit is currently the fifth largest within the Nullagine Gold Project and the present pit design incorporates 574,000 Proved & Probable Ore Reserve tonnes at 1.4 g/t gold for 26,000 ounces.
Notable assay results from the 2013 reverse circulation drilling program of 30 holes for 1,256 metres at All Nations include:
- 19 metres at 5.75g/t gold from 57 metres including 3 metres at 31g/t gold;
- 20 metres at 2.22 g/t gold from 44 metres including 3 metres at 8.335g/t gold from 54 metres;
- 2 metres at 19.58g/t gold from 33 metres including 1 metre at 37g/t gold; and
- 7 metres at 2.75g/t gold from 11 metres including 1 metre at 9.03g/t gold.
Millennium has planned a further 1,200 metres of further drilling later this year on targets that have excellent potential to deepen and extend the current All Nations pit design.
In the southern area of All Nations, the results confirm and emphasise the significance of a substantial, high‐grade, south‐plunging shoot.
This has a plunge of about 60 degrees to 70 degrees to the south, and has a core grading from half to one ounce of gold per tonne, surrounded by substantial thicknesses of 1g/t to 5g/t gold material.
The upper zone lies only 2 metres below the current pit design floor and the high grade core lies up to 22 metres deeper.
This could lead to a rapid addition of ounces to the deposit, especially in the area immediately beneath the currently designed pit floor.
The distribution of higher ore grades also suggests the possibility of additional high grade shoots, but further work is required to confirm this interpretation.
Results also confirm a further substantial gold zone immediately beneath the current proposed pit design floor within the central area of All Nations while drilling within the northern margins of the pit show new shallow and thick zones of mineralisation that are open along strike.
Adjacent sections to the north of the sigmoidal zone in the central part of the deposit suggest that a flatter lying, higher‐grade portion of the lode may develop to the west of hole ANX054. This area is still open and will also be targeted in follow up holes.
Millennium added that while there is currently insufficient drilling to date to fully resolve the geometry of the northern zones, results do indicate that repeats of the north‐south trending, offset pattern of northwest‐stepping mineralisation at All Nations are likely continue to the north outside the current ore reserve pit design.
These suggest that infill drilling will extend the northern margin of the pit when new Resources and Ore Reserves are completed.
The follow up reverse circulation drilling program will focus at the thick plunging shoot, central sigmoidal and northern en‐echelon zones of mineralisation.
These results are very likely to impact positively on new Mineral Resource and Ore Reserve estimates planned for later in 2013. The estimates will be completed once follow up drilling has been completed, and assays have been compiled.
Nullagine Gold Project
The Nullagine Gold Project has a current gold Resource of 1.3 million ounces and Ore Reserve of 712,800 ounces contained within seven deposits.
The largest deposit is Golden Eagle located about 10 kilometres south of the township of Nullagine and contains 62% of the total Mineral Resource inventory.
The now fully operational gold process plant has a capacity of 1.5 million tonnes per annum and at forecast head grade of 1.7g/t gold will produce 78,000 ounces gold annually.
Millennium has been studying various production scale options.
These options relate to assessing the feasibility of higher throughput rates, in the order of 1.7Mtpa to 2.5 Mtpa, to achieve minimum annual production rates of 90,000 ounces and possibly above 100,000 ounces gold over the current life of mine at a slightly lower head grade.
Millennium Minerals’ latest assay results point to a likely upgrade in the current Resource and Reserves at the All Nations Deposit.
Should a higher grade be confirmed at All Nations, this could also improve the economics of any option to improve throughput by potentially allowing the company to ramp up ore processing rates while maintaining head grades.
- Bauxite Resources公司收到大量持股通知
- ASF Group的联营公司将Dawson West热煤项目的资源储量提升至6.45亿公吨
- White Cliff Minerals公司于Aucu项目发现新的矿化带
- Bauxite Resources公司非执行董事卸任
- South Boulder Mines公司董事长购买市售股份
- Carbon Energy公司筹资500万澳元以推进天然气项目
- South Boulder Mines公司降低Colluli钾肥项目的运营开支和资本开支