Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) has announced results from drillhole BA-004 at its Banio Potash Project in Gabon, intersecting 101.45 metres of carnallitite averaging 16.8% potassium chloride (KCI) using a 13% cut-off grade.
The mineralized zones occur within Evaporite Cycles II to VIII of the Salt Sequence, the company reported.
The cumulative thickness compares favourably with the 112.5 metres reported in BA-001-EXT and exceeds the +70 metres intersected in BA-002-EXT and BA-003.
BA-004, located 3.7 kilometres east of BA-001-EXT, was drilled to 667 metres and confirmed the continuity of the evaporite basin.
Seven Evaporite Cycles were identified, correlating with previous drillholes.
In total, 164.76 metres of potash-bearing material averaging 11.86% KCl were recorded before applying the cut-off grade.
“Our drill program keeps generating significant results demonstrating consistency and continuity of potash cycles in this part of the project area,” Millennial chair Farhad Abasov said in a statement.
“In addition to very thick potash horizons, it is also encouraging to see potash grades reaching 29% KCl over some cycles.”
The company said that 31 core samples are undergoing dissolution and geotechnical testwork, with final analytical results pending.
Millennial said the findings extend known potash mineralization to about 8 kilometres and may support future upgrades to the project’s Mineral Resource Estimate, which currently includes 657 million tonnes Indicated at 15.9% KCl and 1.159 billion tonnes Inferred at 16% KCl.
“These consistent and remarkable results reinforce Millennial's confidence in Banio's potential to expand its current Mineral Resource Estimate and highlight the project's exciting development trajectory,” Abasov added.
“We intend to update our Mineral Resource Estimate soon as all the assay results have been received.”