Millennial Potash Continues to Expand Potash Mineralization as Drillhole BA-007 Intersects Approx. 132m of Cumulative Carnallitite
BA-007 extends the known mineralized footprint west of the current resource area; laboratory analysis remains pending.
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Rhea-AI Summary
Millennial Potash (MLPNF) reported approximately 132m of cumulative carnallitite potash mineralization in drillhole BA-007 at its Banio project in Gabon. The hole reached 624.65m and extends the known mineralized footprint west of the current mineral resource estimate area, closer to planned processing and deep-water port sites.
Preliminary logging indicates approximately five evaporite cycles, with potash mineralization in each. Detailed logging and interpretation remain ongoing, and laboratory analysis is still pending. The company expects an updated mineral resource estimate after drill data are interpreted and compiled, supporting the ongoing definitive feasibility study, which assesses project development in detail. BA-007 results may be incorporated once laboratory results are received. At BA-008, the top section is complete, with diamond coring expected to begin in the next several days.
Positive
- Minor pointBA-007 intersected approximately 132m of cumulative carnallitite potash mineralization at Banio.
- Minor pointWestern mineralized footprint expanded beyond the current resource estimate area, closer to planned infrastructure.
- Minor point. Forward-looking: it has not happened yet and may not happen.Updated mineral resource estimate is expected after drill data interpretation and compilation, supporting the ongoing feasibility study.
- Minor point. Forward-looking: it has not happened yet and may not happen.BA-008 top section is complete; diamond coring is expected to begin in the next several days.
Negative
- Minor pointBA-007 results remain preliminary, with detailed logging, seam identification and laboratory analysis still pending.
- Minor point. Forward-looking: it has not happened yet and may not happen.BA-007 inclusion in an updated resource estimate remains conditional on receipt of laboratory results.
AI-generated analysis. How Rhea-AI works. Not financial advice.
West Vancouver, British Columbia--(Newsfile Corp. - November 10, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is excited to announce continued drilling success at its Banio Potash Project in Gabon, where drillhole BA-007 at the North Target intersected approximately 132m of robust cumulative potash mineralization. Drillhole BA-007, located approximately 2,400m northwest of BA-006 and 2,600m west of BA-002, was completed to a depth of 624.65m. This encouraging result highlights the potential to expand the zone of potash mineralization at the project and potentially could add additional resources to the project.
Farhad Abasov, Millennial's Chair, commented: "BA-007 delivers another encouraging drilling success at the Banio Potash Project, and we are thrilled to share these results. Here's why they are significant:
1) BA-007 is the furthest west of all drillholes completed to date and the potash rich evaporite salt sequence remains open to expansion in this direction.
2) The results of BA-007 with potash mineralisation, in the form of interbedded carnallitite and halite, including numerous thick carnallitite potash seams, totals approximately 132m of cumulative potash as carnallitite. This is one of the thickest intersections of potash mineralization intersected to date at the project and supports the geological model that the potash is thickening to the west.
3) BA-007 significantly expands the known potash footprint west of the current Mineral Resource Estimate ("MRE") area, bringing the mineralization closer to the planned processing facility and planned deep-water port sites.
4) Once all drill data have been interpreted and compiled, an updated MRE is expected to be completed, providing a key foundation for the ongoing Definitive Feasibility Study ("DFS")."
Drillhole BA-007 is located approximately 2.4km northwest of BA-006 and was designed to evaluate both the northwest continuation of potash mineralization intersected in BA-006 and its western extension from BA-002 (see Figure 1). The main evaporite salt sequence was intersected at depth of approximately 334m and continues to the end of the drillhole. Preliminary logging indicates that BA-007 intersected approximately 5 evaporite cycles (Cycles III to VII), with potash mineralization present in each cycle.
Review of the BA-007 drill core confirms prominent horizontal and occasional slump bedding dominated by interbedded halite and crystalline carnallite and massive nodular carnallite with interstitial halite (see Photos 1 and 2 below). Preliminary logging estimates the cumulative thickness of the principal carnallitite seams in all Cycles at 131.96m. Detailed core logging, final interpretation of the evaporite cycles and seam identification, and downhole geophysical logging are ongoing. Core preparation and sampling are expected to be completed over the next several weeks, after which the samples will be submitted to the Saskatchewan Research Council ("SRC") for analysis.
Photo 1: Red banded Potash-rich core from BA-007- Cycle VII with banded Carnallite and wavy interbedded Halite at approx. 470.15m to 473.15m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/323152_d40a1bcf04c079ed_001full.jpg
Photo 2: Red Carnallite-rich core from BA_007 showing Cycle III massive nodular Carnallite with interstitial Halite at approx. 599.15m to 602.15m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/323152_d40a1bcf04c079ed_002full.jpg
The Phase 2 drilling program is designed to test the depth and lateral extent of potash-rich horizons and strengthen the geological understanding of potash mineralization beyond the boundaries of the 2025 Mineral Resource Estimate ("MRE"). The additional potash horizons identified in BA-007 extend the known mineralized footprint to the west and could possibly in the future contribute further tonnage to the project's current resource base, which comprises a Measured MRE of 648.2M tonnes grading
Figure 1: Location of BA-007 and planned drillholes with the 2025 MRE outline.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/323152_d40a1bcf04c079ed_003full.jpg
Drilling is currently ongoing at drill site BA-008, located approximately 2km to the south of drillhole BA-006 (see Figure 1). The top section of drillhole BA-008 has been completed and the drillhole is now ready to commence diamond coring in the next several days.
The Company continues to advance its DFS which is being expedited by Micon International, in partnership with Zenito Ltd. and Agapito Associates LLC. ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH continues to support the project providing geological expertise on the Gabon-Congo Basin and drilling support with geology interpretations for the ongoing drill program.
The technical information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or email at info@millennialpotash.com.
Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.
MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323152
FAQ
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What did Millennial Potash find in Banio drillhole BA-007?
BA-007 intersected approximately 132m of cumulative carnallitite potash mineralization and extended the known mineralized footprint west of the current resource estimate area. Preliminary logging indicates approximately five evaporite cycles, with potash mineralization in each.
What are the next sampling steps for Millennial Potash's BA-007 drillhole?
Core preparation and sampling are expected to be completed over the next several weeks, after which samples will be submitted to the Saskatchewan Research Council for analysis. Detailed core logging, final interpretation of the evaporite cycles, seam identification and downhole geophysical logging are ongoing.