- Millennial Potash Corp (MLPNF, Financial) completes drillhole BA-001-EXT at Banio Potash Project in Gabon, discovering significant potash mineralization.
- The current resource estimate stands at 657M tonnes (Indicated) grading 15.9% KCl and 1.159B tonnes (Inferred) grading 16% KCl.
- Phase 2 drilling program aims to extend the mineralization strike to 8,000m and will conclude by Q2 2025, followed by a Feasibility Study.
Millennial Potash Corp (MLPNF) has successfully completed the BA-001-EXT drillhole at its Banio Potash Project in Gabon, revealing significant potash mineralization. The extended drill, reaching a depth of approximately 678 meters, intersected numerous carnallitite seams within a 290-meter section of interbedded carnallitite and halite, from a depth of 364 meters to 657 meters.
The company's Banio Project currently boasts a Mineral Resource Estimate of 657 million tonnes grading 15.9% KCl (Indicated) and 1.159 billion tonnes grading 16% KCl (Inferred). This recent discovery has the potential to significantly boost these figures, particularly following the completion of drilling at the new BA-004 site, located 3.7 kilometers east of BA-001-EXT.
The ongoing Phase 2 drill program, scheduled to be completed by the second quarter of 2025, aims to possibly extend the mineralization strike length to 8,000 meters. This extension will be crucial for the projected updated Mineral Resource Estimate, which will support a forthcoming Feasibility Study. The results from these drilling activities may allow for upgrading the resources from Indicated to Measured status and possibly elevate some Inferred tonnage to Indicated status.
