Millennial Potash Initiates Phase 2 Drilling Program at Its Banio Potash Project in Gabon
Millennial Potash Initiates Phase 2 Drilling
Program at Its Banio Potash Project in Gabon
West Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) -
Millennial Potash Corp. (TSXV:
MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to
announce that it has engaged Merlin Drilling to complete its Phase 2 drilling program at its Banio Potash
Project in Gabon.
The Phase 2 program is comprised of two potash specific drill holes totalling
approximately 1,100m of core drilling.
The program will include the extension of historic hole BA-001 by
approximately 400m and the completion of new hole, BA-004 with a planned estimated final depth of
700m.
Both holes are located at the project's North Target and will test the robust potash mineralization
horizons laterally and at depth which are present in drillholes BA-002 and BA-003.
Farhad Abasov, Millennial's Chair, commented "Millennial is excited to initiate its Phase 2 drilling
program at our Banio Potash Project.
Extending the historic drillhole BA-001 and drilling the new drillhole
BA-004 has the potential to significantly boost the projects potash resources.
Upon completion of the
drilling an updated Mineral Resource Estimate will be completed which will form the foundation of the
Feasibility Study set to begin in the coming months. Millennial has just closed a $4.9M financing round
and is well funded to conduct the second drill program and complete a revised 43-101 resource
estimate report after the drill program."
The Phase 2 drill program includes the extension of historic hole BA-001 to a depth of approximately
700m and the drilling of new hole BA-004 located 4km east of drillhole BA-001.
Hole BA-001 was drilled
to a depth of 364m in 2017 and was just entering the salt sequence when it intersected a localized slump
feature with vertical bedding.
The hole was terminated, however a revised interpretation based on
extensive experience in the Gabon-Congo Basin indicates these local features are not extensive and
Millennial's geological model suggests potash horizons are potentially present at depth.
Planed drillhole BA-004 is located approximately 4 km east of BA-001 and is designed to evaluate the
lateral extent of the potash horizons into an untested area where seismic surveys support continuity of the
potash horizons.
The Company's geological model suggests the salt sequence should be intersected
approximately 350m - 400m deep in the hole and will potentially host evaporite Cycles II to VIII which
include numerous potash horizons in the form of carnallitite.
The objectives of the Phase 2 program are to evaluate the presence of potash-rich horizons at depth and
laterally to provide additional data for an updated Mineral Resource Estimate.
Identification of additional
potash horizons outlined in Phase 2 may extend the combined strike length of know mineralization to
8,000m and can potentially add significant tonnage to the project resources with Indicated MRE currently
at 657M tonnes grading 15.9% KCl and Inferred MRE at 1.159B tonnes grading 16% KCl (see Jan. 16,
2024 Press Release).
In tandem with the potential resource increase, data from these two drillholes may
allow upgrading of some resources from Indicated to Measured status and possibly shifting Inferred
material to Indicated status.
The Phase 2 drill program will be completed in Q2, 2025 and will be followed by a revised Mineral
Resource Estimate which is also planned for completion in Q2, 2025.
The information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P.
Geo, Director of the Company, and is a Qualified Person as that term is defined in National Instrument
43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 6628184 or
email at
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MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-
looking statements or information. These forward-looking statements or information may relate to future
prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources,
regulatory or government requirements or approvals including approvals of title and mining rights or
licenses and environmental (including land or water use), local community or indigenous community
approvals, the reliability of third party information, continued access to mineral properties or
infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact
upon the Company or its properties or the commercial exploitation of those properties, currency risks
including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for
potash or potash related products, changes in exploration costs and government royalties, export
policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's
current plans, expectations and intentions with respect to development of its business and of the Banio
Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the
impact of current financial and other market conditions on its ability to secure further financing or funding
of the Banio Potash Project. Such statements represent the Company's current views with respect to
future events and are necessarily based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to significant business, economic,
competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both
known and unknown, could cause results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements. The Company does not intend, and does not assume any obligation, to update these
forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements and information other than as required by
applicable laws, rules and regulations.
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https://www.newsfilecorp.com/release/246757