Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: MOY
Latest Price: A$0.02  (0,00%)
52-week High: A$0.02
52-week Low: A$0.01
Market Cap: A$65.55M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Millennium Minerals
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.

Pdf

Millennium Minerals latest discovery likely to boost gold Resource at Nullagine

9th Jun 2011, 5:50 am

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.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.