www.millenniumminerals.com.au
Millennium Minerals Limited (ASX:MOY) is an emerging metals company focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia. The high-quality portfolio encompasses a large gold inventory and a secondary molybdenum project.
Millennium Minerals latest discovery likely to boost gold Resource at Nullagine
Millennium Minerals (ASX: MOY) has made some significant new gold discoveries at the Otways deposit, which the company said is likely to boost the Mineral Resource.
Broad highlights include; 20 metres at 2.62 grams per tonne (g/t) gold from the surface, 32 metres at 1.00g/t gold from 5 metres, and 20 metres at 0.82g/t gold from 5 metres.
High grade highlights include; 2 metres at 23.0g/t gold from 23 metres, and 2 metres at 7.0g/t gold from 23 metres.
Otways is located within the 1.25 million gold ounce Nullagine Gold Project.
Most importantly, ore grade intercepts at Otways extend mineralisation along strike to the northeast by 200 metres, and the southwest by 100 metres.
Brian Rear, chief executive officer, said “The latest set of drilling results from Millennium’s Otways deposit is further demonstration of the significant upside potential of the Nullagine Gold Project."
Millennium will follow-up the positive results shortly, with a 2,000 metre extension and infill reverse circulation program.
Rear added, “More broadly, the company’s ongoing drilling program has already resulted in a 25 per cent increase in ore reserves and a subsequent 25 per cent increase in forecast gold production, as announced in January 2011.
“In tandem with our on-going exploration program, Millennium recently ordered long lead-time plant and equipment for the Nullagine Gold Project, and construction is expected to commence shortly.
“Mining is expected to commence during the first quarter of 2012 with first gold expected during the second quarter of the same year.”
Otways is located less than 10 kilometres from the proposed 1.5 Mt per annum CIL gold processing facility at Golden Eagle.


















