Millennial Potash Intersects Significant Potash in BA-001-EXT at its Banio Potash Project in Gabon
Millennial Potash Corp (MLPNF) has successfully completed drillhole BA-001-EXT at its Banio Potash Project in Gabon. The extended drill hole, reaching approximately 678m depth, intersected significant potash mineralization with numerous carnallitite seams within a 290m section of interbedded carnallitite and halite. The company's current Mineral Resource Estimate stands at 657M tonnes grading 15.9% KCl (Indicated) and 1.159B tonnes grading 16% KCl (Inferred). Following BA-001-EXT, drilling will continue at BA-004, located 3.7km east, to evaluate lateral extent of potash horizons. The Phase 2 drill program, expected to complete in Q2 2025, aims to potentially extend mineralization strike length to 8,000m and will be followed by an updated resource estimate to support an upcoming Feasibility Study.
Millennial Potash Corp (MLPNF) ha completato con successo il sondaggio BA-001-EXT presso il progetto Banio Potash in Gabon. Il foro esteso, raggiungendo una profondità di circa 678 m, ha intercettato una significativa mineralizzazione di potassio con numerose vene di carnallitite all’interno di una sezione di 290 m di carnallitite e salgemma intercalati. La stima attuale delle risorse minerarie dell’azienda è di 657 milioni di tonnellate con un tenore del 15,9% di KCl (indicate) e 1,159 miliardi di tonnellate con un tenore del 16% di KCl (inferred). Dopo BA-001-EXT, la perforazione proseguirà presso BA-004, situato a 3,7 km a est, per valutare l’estensione laterale degli orizzonti di potassio. Il programma di perforazione di fase 2, previsto per concludersi nel secondo trimestre del 2025, mira a estendere potenzialmente la lunghezza dell’orizzonte mineralizzato fino a 8.000 m e sarà seguito da una stima aggiornata delle risorse per supportare uno studio di fattibilità imminente.
Millennial Potash Corp (MLPNF) ha completado con éxito el sondeo BA-001-EXT en su proyecto Banio Potash en Gabón. El pozo extendido, alcanzando aproximadamente 678 m de profundidad, intersectó una mineralización significativa de potasa con numerosas vetas de carnallitita dentro de una sección de 290 m de carnallitita y halita intercaladas. La estimación actual de recursos minerales de la compañía es de 657 millones de toneladas con una ley del 15,9% de KCl (Indicadas) y 1.159 millones de toneladas con una ley del 16% de KCl (Inferidas). Tras BA-001-EXT, la perforación continuará en BA-004, ubicado a 3,7 km al este, para evaluar la extensión lateral de los horizontes de potasa. El programa de perforación de la Fase 2, que se espera completar en el segundo trimestre de 2025, apunta a extender potencialmente la longitud de mineralización a 8,000 m y será seguido por una actualización de la estimación de recursos para apoyar un próximo estudio de factibilidad.
밀레니얼 포타시 코퍼레이션(MLPNF)은 가봉의 바니오 포타시 프로젝트에서 BA-001-EXT 시추공을 성공적으로 완료했습니다. 약 678m 깊이에 이르는 연장 시추공은 카르날리타이트와 할라이트가 교호하는 290m 구간 내에서 다수의 카르날리타이트 층과 함께 상당한 포타시 광물화를 관통했습니다. 현재 회사의 광물 자원 추정치는 15.9% KCl 등급의 6억 5700만 톤(확인)과 16% KCl 등급의 11억 5900만 톤(추정)입니다. BA-001-EXT 이후, 동쪽으로 3.7km 떨어진 BA-004에서 시추가 계속되어 포타시 지층의 횡방향 확장을 평가할 예정입니다. 2단계 시추 프로그램은 2025년 2분기 완료를 목표로 하며, 광물화의 연장 길이를 8,000m까지 확장하는 것을 목표로 하고, 이후 갱신된 자원 추정치가 예정된 타당성 조사 지원에 사용될 것입니다.
Millennial Potash Corp (MLPNF) a achevé avec succès le forage BA-001-EXT sur son projet Banio Potash au Gabon. Le forage prolongé, atteignant environ 678 m de profondeur, a intersecté une minéralisation significative de potasse avec de nombreuses veines de carnallitite dans une section de 290 m d’alternance de carnallitite et d’halite. L’estimation actuelle des ressources minérales de la société s’élève à 657 millions de tonnes à 15,9% de KCl (indiquées) et 1,159 milliard de tonnes à 16% de KCl (inférées). Après BA-001-EXT, le forage se poursuivra à BA-004, situé à 3,7 km à l’est, afin d’évaluer l’étendue latérale des horizons potassiques. Le programme de forage de phase 2, dont l’achèvement est prévu au deuxième trimestre 2025, vise à potentiellement étendre la longueur de la minéralisation à 8 000 m et sera suivi d’une mise à jour de l’estimation des ressources pour soutenir une étude de faisabilité à venir.
Millennial Potash Corp (MLPNF) hat erfolgreich das Bohrloch BA-001-EXT im Banio Potash Projekt in Gabun abgeschlossen. Das erweiterte Bohrloch erreichte eine Tiefe von etwa 678 m und schnitt eine bedeutende Kaliummineralisierung mit zahlreichen Carnallitit-Adern innerhalb eines 290 m langen Abschnitts aus geschichteten Carnallitit- und Halit-Schichten. Die derzeitige Mineralressourcenschätzung des Unternehmens beträgt 657 Mio. Tonnen mit 15,9% KCl (Indiziert) und 1,159 Mrd. Tonnen mit 16% KCl (Inferred). Nach BA-001-EXT wird die Bohrung bei BA-004, 3,7 km östlich gelegen, fortgesetzt, um die seitliche Ausdehnung der Kaliumhorizonte zu bewerten. Das Phase-2-Bohrprogramm, das voraussichtlich im zweiten Quartal 2025 abgeschlossen wird, zielt darauf ab, die Mineralisierungslänge auf 8.000 m zu verlängern und wird von einer aktualisierten Ressourcenschätzung gefolgt, die eine bevorstehende Machbarkeitsstudie unterstützen soll.
- Significant potash mineralization discovered with 290m of interbedded carnallitite and halite
- Potential to significantly boost project's potash resources beyond current 1.816B tonnes
- Drilling results exceeded expectations and may allow upgrade of resources from Indicated to Measured status
- Results will support upcoming Feasibility Study
- None.
West Vancouver, British Columbia--(Newsfile Corp. - May 6, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to announce that it has completed drillhole BA-001-EXT at the North Target on its Banio Potash Project in Gabon. Drillhole BA-001-EXT was initially drilled in 2017 and stopped prematurely at approx. 364m in a zone of soft sediment deformation or slumping rich in carnallitite. As part of Millennial's Phase 2 drill program BA-001-EXT was extended to a depth of approximately 678m and intersected numerous carnallitite seams within approximately 290m of interbedded carnallitite and halite, from 364m to 657m.
Farhad Abasov, Millennial's Chair, commented "Millennial is very pleased to have intersected a robust section of interbedded carnallitite and halite with the completion of drillhole BA-001-EXT. Numerous thick potash seams, in carnallitite form, have been intersected in the extension of BA-001 and in total the combined +250m of interbedded carnallitite and halite exceeded our expectations. We are looking forward to completion of the logging and sampling of the potash horizons and the analytical results. Extending drillhole BA-001 and drilling new hole BA-004 has the potential to significantly boost the project's potash resources. Upon completion of the drilling an updated Mineral Resource Estimate is expected to be completed which would form the foundation of a Feasibility Study expected to begin in the coming months."
Drillhole BA-001 was originally drilled in 2017 to a depth of 364m where massive carnallitite was intersected but with variable bedding orientations which were originally interpreted as representing a fault zone. MLP's geological model, based on extensive experience in the Gabon-Congo Basin, recognized this variability in bedding as soft sediment deformation and confined to only the upper evaporite cycles in the basin. Drillhole BA-001 was re-entered and drilled to a depth of 678m after encountering numerous evaporite cycles and carnallitite seams from approx. 364m to a depth of 657m (see core Photos 1 and 2 below). Detailed core logging and final interpretation of evaporite cycle and seam identification are ongoing. In addition, core preparation and sampling will be completed over the next several weeks and samples submitted to the Saskatchewan Research Council for analyses.
Photo 1 Red Carnallite-rich core from BA_001-EXT showing interbedded nodular Carnallite and Halite with soft sediment deformation features at approx. 503m to 508m depth
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Photo 2 Red Carnallite-rich core from BA-001-EXT with massive nodular Carnallite and bedded Halite at approx. 653m to 656m depth
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Upon completion of BA-001-EXT the drill rig will move 3.7km east to drillhole BA-004 which is designed to evaluate the lateral extent of the potash horizons into an untested area where seismic surveys support continuity of the potash horizons. The Company's geological model suggests the salt sequence should be intersected approximately 250m - 650m deep in the hole and will potentially host evaporite Cycles II to VIII which include numerous potash horizons in the form of carnallitite.
The objectives of the Phase 2 program are to evaluate the presence of potash-rich horizons at depth and laterally to provide additional data for an updated Mineral Resource Estimate. Identification of additional potash horizons outlined in Phase 2 may extend the combined strike length of know mineralization to 8,000m and can potentially add significant tonnage to the project resources with Indicated MRE currently at 657M tonnes grading
The Phase 2 drill program is expected to be completed in Q2, 2025 and is expected to be followed by a revised Mineral Resource Estimate.
The information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo, 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.
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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.
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FAQ
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