InvestmentPitch Media Video Discusses Millennial Potash’s Banio Potash Project in West Africa as it Prepares for a New Drill Program

Rhea-AI Summary

Millennial Potash Corp. (TSXV:MLP) (OTCQB:MLPNF) provides an update on its Banio Potash Project in Gabon, where it is moving forward with a new drilling program. The company is acquiring up to 100% of the project through cash, share payments, and exploration commitments. Key project activities include:

• Completion of camp rehabilitation and establishment of infrastructure.
• Clearing of a historic road to the drill site.
• Preparation of the rotary drill rig for drilling.
• Engagement of Ercosplan Ingenieurgesellschaft for exploration planning.

The Mayumba Permit covers 1,244 square kilometers and is strategically located near key potash markets, promising a significant cost advantage. As of now, shares are trading at $0.52, after a halt due to TSX Venture Exchange approval.

Positive

• Acquisition of up to 100% of Banio Potash Project is underway, enhancing company control.
• Strategic location near major potash markets offers potential cost advantages.
• Successful establishment of infrastructure and camp rehabilitation supports operational readiness.
• Engagement of Ercosplan for exploration planning strengthens project credibility.

Negative

• Shares were halted for approximately 4 months pending TSX Venture Exchange approval.

VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) -- Millennial Potash Corp. (TSXV:MLP) (OTCQB:MLPNF) has issued an update on progress at its Banio Potash Project in West Africa as it prepares for a new drill program. Millennial Potash is acquiring up to 100% of the Banio Potash Project in Gabon through a series of cash and share payments and commitment of certain exploration expenditures. The main project area is located on the Atlantic coast of Gabon in western Africa.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video about this news and the company along with video comments from Millennial Potash Chairman Farhad Abasov. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Millennial” in the search box.

The 1,244 square kilometer Mayumba Permit, which forms the basis for the Banio Potash Project, is approximately 50 km south of Mayumba village close to the border with the Republic of Congo. The potash-rich Congo Evaporite Basin extends from the Republic of Congo, located to the south, into coastal Gabon and the Banio Potash Project area. Current and past potash development projects in the Congo include the historic Holle Potash mine, Kore Potash's ongoing development at Kola, and Mag Industries' Mengo project now held by Chinese developer Evergreen Industries.

The company has made significant progress in its mobilization program. Camp rehabilitation is complete with new tent accommodation and container office and catering and medical services in place. Satellite communications with internet capabilities have also been established and power facilities are up and running.

Initial field activities include the ongoing clearing of a 4km historic road to the new drill site. The rotary drill rig on site is undergoing servicing and preparation for drilling, which upon completion will be moved to the site for planned hole BA-004 to drill the upper sedimentary units to the top of the salt sequence, estimated at a depth of approximately 320 metres. This hole will be extended to 700 metres with PQ core upon arrival of the new core drill rig, currently enroute having disembarked in Gabon from Europe in early April. Management estimates this new core drill rig will arrive by late April or early May.

Millennial has engaged Ercosplan Ingenieurgesellschaft to assist with the planning of the current exploration programme including the resampling of the historic drillholes on the project to confirm potash intervals. The company has sourced and secured sample pulps from the previous drillholes on the project in 2017 and 2018 from ALS Global. Ercosplan has confirmed the pulps are well preserved and acceptable for re-analysis and plans to analyze approximately 450 samples with results available for a maiden mineral resource estimate planned for later this year.

Millennial Potash will have a significant cost advantage over competitors due to its proximity to major potash markets with shipping time, particularly to Brazil and Asia Markets much less than other suppliers.

Having been halted for about 4 months while waiting for TSX Venture Exchange approval of its option to acquire the Banio Potash Project, the shares are currently trading at $0.52.

For more information, please visit the company’s website at www.millennialpotash.com, or contact Investor Relations at 604-662-8184 or email info@millennialpotash.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Millennial Potash has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format and distributed. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the update from Millennial Potash Corp. regarding the Banio Potash Project?

Millennial Potash Corp. has announced progress in its Banio Potash Project, including preparations for a new drilling program and completion of necessary infrastructure.

How is Millennial Potash Corp. acquiring the Banio Potash Project?

The company is acquiring up to 100% of the Banio Potash Project through cash and share payments along with commitments for exploration expenditures.

What are the key features of the Mayumba Permit related to the Banio Potash Project?

The Mayumba Permit spans 1,244 square kilometers and is located close to major potash markets, enhancing logistical advantages.

How has Millennial Potash Corp. prepared for the new drilling program?

Preparation includes the rehabilitation of camp facilities, clearing access roads, and servicing drill rigs.

What is the current trading price of Millennial Potash shares?

As of the latest update, shares of Millennial Potash are trading at $0.52.