Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) Chairman Farhad Abasov joined Steve Darling from Proactive to share significant news regarding the company's Banio Potash Project in Gabon during an interview with Steve Darling from Proactive. Millennial Potash has released the results of its maiden Mineral Resource Estimate (MRE) for the northern part of the Banio Potash Project. The MRE incorporates new assay data from historic holes BA-002 and BA-003, along with assay results from additional potash cycles encountered during the drilling extension of BA-002, which was completed in September 2023.
The MRE encompasses both Indicated and Inferred Mineral Resources. The Indicated Mineral Resources are estimated to be approximately 657 million tonnes, with a grade of 15.9% KCl, equating to 104.6 million tonnes of contained KCl. In contrast, the Inferred Mineral Resources are estimated to be approximately 1.159 billion tonnes, with a grade of 16.0% KCl, equating to 185.3 million tonnes of contained KCl. Abasov explained that this MRE forms a solid foundation for the upcoming Preliminary Economic Assessment (PEA).
The PEA will explore various production scenarios utilizing solution mining and will likely include a proven processing route for the production of Muriate of Potash (MOP) directly on the Atlantic coast. These developments are significant milestones for Millennial Potash as the company advances its Banio Potash Project and further solidifies its position in the potash market. Stay tuned for more updates on Millennial Potash's progress in the near future.