Millennial Precious Metals Corp. (TSXV: MPM) is pleased to provide results from the ongoing resource conversion and exploration drill program currently being conducted at its Mountain View project located in Nevada, USA, as a part of the fully funded 20,000m maiden drill program. The 2021 Phase 1 Mountain View drill program consists of 30 holes, totaling 7,250m, and is approximately 65% complete. Millennial (TSX.V: MPM) expects to continue to release drill results from the program every 2-3 weeks.
Drill hole MVCD-0004 returned an intercept of 1.73 g/t oxide Au over 128.3m including a high-grade intercept of 49.5 g/t Au over 3.35m and 141.73 g/t Au over 0.82m (refer to Table 1 for detailed interval results).
- The high-grade intercept is likely first evidence of the plumbing system which controls the lower-grade, bulk oxide portion of the deposit hosted by flow-banded rhyolite.
- The high-grade intercept is characterized by a subvertical hydrothermal breccia dike affected by silica, clay and fine-grained sulphides that are now completely oxidized.
- The high-grade intercept sits within the current pit shell, however deeper holes are planned below the pit shell which have the potential to add significant underground ounces and potentially support an underground mining operation once the open pit has been fully mined.
- The high-grade hydrothermal breccia was not reported in the historical RC drilling.
- The high-grade zone is characterized by a hydrothermal breccia with quartz, pyrite and marcasite within the matrix.
- MVCD-0004 was designed to convert resources within the current block model from Inferred to Indicated and target the feeder zone in the epithermal system in support of an updated mineral resource in H1 2022 and PEA in H2 2022.
- The existing block model at Mountain View is based on historical results, drilled primarily with RC (reverse circulation) rigs. Millennial's program is being completed principally with DDH (diamond drill hole) rigs.
- Grade observed in MVCD-0004 is ~33% higher than expected from the block model.
- MVCD-0004 results were evaluated excluding the high-grade intercept (141.73 g/t Au over 0.82m) which generated an overall grade of 0.82 g/t Au, significantly higher than the block model estimate (see individual sample intervals in Table 2).
- Based on Millennial's interpretation, it appears that the mineralized rhyolite is situated directly below the alluvium, which is composed of sand, gravels and boulders as seen in Figure 1. As a result, it is expected that pre-stripping for open-pit mining will not require conventional drilling and blasting, potentially reducing mining costs.
- Minor, post-mineral faulting has broken the host rock w
Jason Kosec, President, CEO & Director of Millennial (TSX.V: MPM) stated, "We are delighted with the results from MVCD-0004. The potential discovery of the bonanza grade feeder zone could significantly augment the economics at Mountain View. We plan to confirm the discovery with additional drilling over the coming weeks designed to target the high-grade feeder structures within the low sulfidation epithermal system and we will provide an update as soon as results become available."
Mountain View Project Overview:
Mountain View is located within the Deep Hole mining district in Nevada, 24km north of the town of Gerlach within Washoe County. The project area is covered by a 2,460-acre land package consisting of 127 unpatented claims, located on federally owned lands administered by the U.S. Bureau of Land Management (BLM). Gold-dominated mineralization at Mountain View consists of low sulfidation epithermal veins and disseminated oxide and sulphide mineralization hosted in Cenozoic volcanic rocks. Mountain View has an Inferred mineral resource estimate containing 427,000 ounces of Au (oxide) (23.2 million tonnes at 0.57 g/t Au; effective date of November 15, 2020).
Millennial Webinar Scheduled for October 6, 2021:
Millennial will provide an update on its exploration program during a webinar hosted by Adelaide Capital on October 6, 2021, at 2:00pm EST. The webinar will feature a presentation from Jason Kosec, President, CEO and Director as well as a Q&A session.
To register for this event, please use the following link: https://us02web.zoom.us/webinar/register/WN_W1FBmi0ESUCg1M69zf3F3w
The webinar will also be live-streamed to the Adelaide Capital YouTube Channel: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw
A replay will be made available shortly after the webinar.
Disclaimer: Millennial Precious Metals (TSX.V: MPM) is a paid marketing client and we own stock options*