Millennium Minerals (ASX: MOY) continues to unlock the vast gold potential at the Nullagine Gold Project, with the latest round of gold strikes confirming the open pit expansion potential at the Shearers deposit.
Ore grade intercepts identify mineralisation to 140 metres along strike to the south from the current proposed pit design limits.
The latest highlights included; 5 metres at 7.51 grams per tonne (g/t) gold from 49 metres, 4 metres at 3.60g/t gold from 13 metres, and the broader hit of 17 metres at 0.91g/t gold from 65 metres.
Brian Rear, managing director, said "The results provide Millennium with a strong impetus for additional follow‐up drilling, and, similar to our adjacent Otways deposit, demonstrates the potential for additional upside to be realised at Shearers."
The results are from a comprehensive 43 reverse circulation hole drilling program targeting near surface gold to the south of the current Shearers open pit design.
The Shearers gold deposit is within easy access and just 9 kilometres to the northeast of the proposed 1.5 Mt per annum CIL gold processing facility at Golden Eagle, allowing for easy transportation of the near surface ore.
Shearers currently has a JORC Measured, Indicated and Inferred Resource of; 1.73 million tonnes at 1.2g/t for 67,700 gold ounces, with over 3400 metres of drilling completed since this estimate - highlighting the likelihood of an increase in the short term.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/17980/millennium-minerals-eyes-open-pit-expansion-after-latest-gold-hits-at-125moz-nullagine-17980.html
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