Millennial Precious Metals (TSX.V: MPM) has completed an exciting amalgamation which includes acquiring advanced-stage assets from Billion Dollar Fund, Waterton Global Resource Management. Millennial has acquired interests in each of the Wildcat Property, the Mountain View Property, the Marr Property, the Ocelot Property, the Eden Property and the Dune Property located in Nevada and also a lease and option to purchase the Red Canyon Property also located in Nevada. In addition, Millennial Precious Metals (TSX.V: MPM) completed a $24M financing led by Stifel GMP and Eight Capital, on behalf of a syndicate of investment dealers including Sprott Capital Partners, PI Financial and Cormark Securities. The proceeds of the placement allowed Millennial to fund the acquisition of the Nevada Properties, and commence a 20,000m multi-phase Drill Program. Highlights of the program are as follows:
- 20,000m program, using 3 to 4 drill rigs,
- Red Canyon: 2,500m program in Q2 2021 - designed to advance Red Canyon to the discovery stage and tighten geologic controls,
- Mountain View: 9,250m program in Q2/Q3 2021 – designed for resource conversion and expansion, rock mechanics and metallurgical testing,
- Wildcat: 8,250m program in Q3/Q4 2021 – designed for resource conversion and expansion, rock mechanics and metallurgical testing.
Jason Kosec, President & CEO stated, “A minimum 20,000m of drilling is the right first step for Millennial. This maiden program is expected to accelerate the conversion and expansion of existing gold resources at Mountain View and Wildcat, while also bringing Red Canyon to the discovery stage, consistent with the short-term objective of de-risking our assets, while adding significant ounces to our global resource base in support to our vision to become a multi-million-ounce, multi-asset development company.”
Overview of Red Canyon
The Red Canyon Project is a carlin-style sediment-hosted gold project that lies in the heart of the Battle Mountain-Eureka trend. Red Canyon is located 50km northwest of the town of Eureka and 37km southeast of the 20M-ounce Cortez Hills Mine complex (Pipeline, Cortez Hills, Horse Canyon, Gold Rush). The project consists of 2,083 hectares, historical intercept includes (from surface): 39.5 metres @ 4.79 g/t gold.
The first phase 2,500 metre drill program will focus on 1 of the 10 primary target zones across a 6 square km of outcropping alterations. Millennial plans to drill and test all 10 target zones in the coming years. The focus will be to establish grade, size and increase confidence in the geological model of the known mineralization at the Heavenly Fault Zone.
Overview of Mountain View
The 100% owned Mountain View Project is a volcanic hosted low-sulphidcation epithermal gold deposit temporarily and genetically related to volcanic centers that were emplaced along the Granite Range in a steep, southeast-striking normal (range front) fault. The Mountain View deposit is hosted by the Severance rhyolite and occupies an area 1,000m long and 300m wide in the hanging wall of a major fault. The project is located on the east edge of Squaw Valley, in the Deephole mining district 22km northwest of the town of Gerlach, NV. The project consists of ~1,000 hectares including 127 unpatented claims, with less than 250 RC and diamond drill holes completed historically. Previous exploration intercepts include: 70 ft @ 6.8 g/t gold, including 20 ft @ 12.1 g/t gold.
The planned 9,250 metre drill program at Mountain View will focus on upgrading the current 427,000 ounces inferred resource to the indicated resource category and outline additional ounces along the main axis of the deposit within the higher-grade plumbing system at depth and establishing tighter controls on vein-hosted zones of mineralization.
Overview of Wildcat
The 100% owned Wildcat Project lies in the Farrell Mining District, approximately 42km north of the town of Lovelock. Mineralization is contained in epithermal, low-sulfidation veins and disseminated throughout extensive hydrothermal breccia zones. The project consists of ~3,700 hectares including 481 unpatented and 4 patented claims. There has been 256 RC holes completed for a total of 28,956 metres of historical drilling. Previous exploration intercepts include: 80 ft @ 8.0 g/t Au, including 35 ft @ 17.1 g/t Au
The planned 8,250 metre drill program at Wildcat will focus on upgrading the current 776,000 ounces inferred resource to the indicated resource category and target 500,000 to 700,000 ounces of gold in sulphide exploration. This program will also provide material for rock mechanics and metallurgical testing. More details on the program will be communicated to the market once the drills are mobilized, following the receipt of required permitting. The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to define it as a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Millennial Precious Metals (TSX.V: MPM) is run by a team of extraordinary successful mining executives who have been credited for making over 59Moz of gold discoveries across 7 projects, 5 of 7 are currently in structural production. The company recently appointed Ms. Sara Hesto as a director, Mr. Eric Tremblay as a technical advisor and Mr Jason Banducci as VP, Corporate Development.
Jason Kosec CEO, President, Director
Jason has nearly ten years of experience in all facets of mineral exploration, mine development, investor relations and finance. Upon completing his undergraduate degree in Geology at Western University and a Masters in Earth and Energy Resources at Queens University, Jason worked as a Project Geologist at Trelawney Mining and Exploration, which was subsequently sold in 2012 to IAMGOLD for C$608M. Jason then moved on to work as an Exploration Geologist at a number of IAMGOLD properties and in early 2015 was recruited to join the Barkerville Gold Mines team as Sr. Geologist where he was appointed Chief Mine Geologist in 2016. In late 2017, Jason took on the role of VP Corporate Development which ultimately led to the sale of Barkerville Gold Mines to Osisko Gold Royalties in 2019 for C$338 million. Jason is currently Vice President of Strategic Development at Sable Resources.
Andres Tinajero CFO
Mr. Tinajero is a Chartered Professional Accountant with over 26 years of international finance experience in, compliance, finance strategy, financial reporting, internal control and strategic planning. Mr. Tinajero has previously served as Vice-President, CFO and Corporate Controller for large, multi-national companies including United Nations, State Bank, Lafarge, Trelawney Mining, Osisko Royalties. Mr. Tinajero holds a Bachelor of Business from San Francisco University, a Master of Business Administration (MBA) from ITESM University, he is a Member of the Canadian Institute of Chartered Professional Accountants, the Certified Practicing Accountants of Australia and a Certified member of the Institute of Corporate Directors
Outside of his duties at Talisker resources, Mr. Tinajero serves as Director for Sable Resources, and JHI Energy.
J.D. Mizer Vice President of Exploration
An Arizona native, J.D. received his PhD from The University of Arizona after serving in the U.S. Navy submarine service. His research focused on early Laramide geology and regional geochronology in the Southwest. With over 12 years’ experience in mineral exploration, his contributions include detailed mapping and structural interpretations on greenfields projects including porphyry copper, Carlin gold, and mesothermal precious-base metal vein systems. In addition to exploration and consulting, Dr. Mizer has spent time managing testing facilities in the geomechanical consulting field. Outside of his duties at Millennial, Dr. Mizer serves as Vice President of Exploration and partner for Tri Minerals Holdings Corp., Vice President of Project Acquisitions for Silver Hills Minerals, LLC, and Vice President of Exploration and Project Acquisitions for Professional Minerals Development, LLC.
Ruben Padilla Director
PhD from the University of Arizona. Over 35 years experience in the mineral exploration industry, Dr. Padilla has completed important research at the La Escondida deposit. With AngloGold Ashanti Ltd., he acted as exploration country manager in Consulting Geologist Peru and in Colombia and as chief geologist for the Americas exploration group. He was part of the team that discovered the Colosa and Gramalote deposits in Colombia. He is the founder and chief geologist for Talisker Exploration Services Inc. Dr. Padilla is a director of Minera Alamos Inc.
Terry Harbort Director
PhD in Structural Geology and Tectonics. Recognised senior member of the discovery team of AngloGold’s Ashanti’s La Colosa and Gramalote deposits. Specialist in mapping and interpretation of ore geometries and ore controls covering various types of geological environments with direct applications to mineral economics from target generation, target definition and evaluation, and project management. Co-founder and VP Exploration of Talisker Exploration Services. Currently the Chief Geoscientist for Barkerville Gold Mines Ltd and Osisko Nominee to the board of IDM Mining.
Michael G. Leskovec Director
Mr. Leskovec is a Chartered Professional Accountant with over sixteen years of financial experience with publicly listed companies and capital markets. He also serves as a Vice-President of Northfield Capital Corporation, where he has gained experience working with publicly listed companies, assisting with investment analysis, financings, corporate structuring and go public transactions in Canada. Prior to this, Mr. Leskovec served as an Officer of Gold Eagle Mines Ltd., which was involved in the development of the Bruce Channel deposit in Red Lake, Ontario, and was sold to Goldcorp Inc. for $1.5 billion in 2008. Mr. Leskovec earned his Chartered Professional Accountant, Chartered Accountant (CPA, CA) designation while working in the audit and assurance practice for Smith Nixon LLP and has his Honours Bachelor of Accounting (BAcc) Degree from Brock University.
Sara Heston Director
Ms. Heston has been an Associate Director, Center for Entrepreneurial Studies at the Stanford Graduate School of Business since 2020. Prior to her role at Stanford, she was the Vice President of Investments for ASA Gold and Precious Metals Limited where she managed a global portfolio of publicly listed, precious metals investments from 2010 – 2019. Ms. Heston is currently a director of The Denver Gold Group, Inc., Spanish Mountain Gold Ltd. and Dore Copper Mining Corp. She holds a BA in Economics from Vanderbilt University and an MBA from Columbia University.
Eric Tremblay Technical Advisor
Mr. Tremblay is a seasoned mining professional with nearly 30 years of mine building and mine operations experience, and is currently the Chief Operating Officer with Dalradian Resources Inc. He previously held the role of General Manager at Canadian Malartic, Canada’s largest open pit gold mine. He was responsible for building the operations team, establishing operating procedures and standards, expanding stakeholder engagement and subsequently managing an internal team of 700 employees and 400 contractors. Mr. Tremblay was also the General Manager at IAMGOLD’s Westwood Project, where he participated in closure of the Doyon Mine and construction of the Westwood Project, completing the permitting, scoping study, feasibility study, surface construction and underground development at Westwood. Mr. Tremblay was also in parallel the general manager of the internal contractor of Iamgold (Iamrock) working on all underground mines and projects development.. Previous positions include, General manager at Cambior’s Sleeping Giant mine, Underground Superintendent at Mouska Mine, Underground Captain/Project and Engineer/Senior Supervisor over a seven-year period at Cambior and Barrick’s Doyon Mine, where he was involved in mine-planning, construction, development and production. Mr.Tremblay begin is career working with mining contractor Ross Finlay Lte from miner to project engineer on multiple project owned by Agnico Eagle, Placer Dome, Barrick, Cambior, etc. Mr. Tremblay is currently on the board of Nighthawk Gold Corp, Talisker Resources, Osisko Development and technical advisor for Maritime Resources board. Mr. Tremblay graduated from Laval University with a B.Sc. in mining engineering and mineral processing.
Millennial Precious Metals (TSX.V: MPM) is truly setting the bar for Nevada exploration, with the current +1.2Moz inferred resources, the company will focus on expanding that over the planned multi-phase drill program.
What separates Millennial apart from its peers? Millennial is well capitalized with strong support from both strategic and institutional investors:
- Cash Position of ~$23M, with institutional ownership of ~74% including Waterton with 19.9%, Eric Sprott with 8.2% and Merk with 9.1%
- EV / Resource valuation of ~US$30/oz trading at a discount to the peer average of ~US$50/oz
- Significant re-rating opportunity and near-term share price catalysts
Currently Millennial has 135,385,109 shares outstanding and is trading at $0.55, giving it a market cap of $74.46M.