Millennial Potash Intersects Additional Robust Potash Mineralization in BA-004 at Its Banio Potash Project in Gabon
Millennial Potash Intersects Additional Robust
Potash Mineralization in BA-004 at Its Banio
Potash Project in Gabon
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) -
Millennial Potash Corp. (TSXV:
MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to
announce that it has completed drillhole BA-004 at the North Target on its Banio Potash Project in
Gabon.
As part of Millennial's Phase 2 drill program, BA-004 was completed to a depth of 667m and
intersected the evaporite-bearing Salt Sequence from approximately 260m to the bottom of the hole at
667m.
Within the Salt Sequence, BA-004 intersected greater than 100m of potash in seams
characterized by interbedded carnallite and halite.
Farhad Abasov, Millennial's Chair, commented: "Millennial is delighted to announce that drilling on the
project has once again intersected a significant section of interbedded carnallitite and halite in the new
drillhole BA-004.
Numerous thick potash seams, in carnallitite form,
were intersected in BA-004 with a
combined total of +100m of interbedded carnallitite and halite. The potash mineralisation found in the
recently completed drillholes, BA-001-EXT and BA-004, exceeded our expectations and clearly
demonstrates the potential of our project.
We are looking forward to completion of the logging and
sampling of the potash horizons and the analytical results.
The prominent potash mineralization
intersected in BA-001-EXT and in BA-004 has the potential to significantly boost the project's potash
resources.
Upon the interpretation and compilation of drillhole results, an updated Mineral Resource
Estimate is expected to be completed which would form the basis of a Feasibility Study expected to
begin in the coming months."
Drillhole BA-004 is collared approximately 3.7km east of recently completed drillhole BA-001-EXT and
was designed to test the eastward extension of potash mineralization encountered in drillholes BA-001,
001-EXT, 002, 002-EXT and 003.
Preliminary logging of BA-004 indicates geologically it is similar to
holes BA-001-EXT, 002, 002-EXT and 003 with approximately 7 evaporite cycles (Cycles II to VIII) with
potash mineralization intersected in each cycle.
Review of the drill core from BA-004 shows prominent
horizontal bedding planes dominated by interbedded halite and carnallite (see Photos 1 and 2 below).
An estimate of the cumulative thickness of the main carnallite seams from the preliminary logging
potentially totals greater than
100m.
Detailed core logging and final interpretation of evaporite cycle and
seam identification, as well as downhole geophysical logging are ongoing.
In addition, core preparation
and sampling will be completed over the next several weeks and samples submitted to the
Saskatchewan Research Council for analyses.
Photo 1 Red Carnallite-rich core from BA_004 showing interbedded banded and nodular Carnallite
with banded Halite at approx. 458m to 461m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/256838_8ce7643d3485a82b_001full.jpg
Photo 2 Red Carnallite-rich core from BA-004- with interbedded
Carnallite and bedded Halite at
approx. 556m to 559m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/256838_8ce7643d3485a82b_002full.jpg
The objectives of the Phase 2 program were
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 the Phase 2 drilling have
extended the combined strike length of
known potash mineralization to approximately 8,000m and could potentially add significant tonnage to
the project's resources which currently contains an
Indicated MRE of 657M tonnes grading 15.9% KCl
and an Inferred MRE of 1.159B tonnes grading 16% KCl (see Jan. 16, 2024 Press Release).
In tandem
with the potential resource increase, data from the Phase 2 drill program may allow upgrading of some
resources from Indicated to Measured status and possibly shifting Inferred tonnage to Indicated status.
Samples from the recent drillholes will be collected for dissolution test-work and geotechnical test-work
which will be used in the upcoming Feasibility Study.
The Company is granting a total of 2,995,000 incentive stock options exercisable for a period of five (5)
years at an exercise price of $1.28 per share.
The information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P.
Geo, Director of the Company, who is a Qualified Person as that term is defined in National Instrument
43-101.
To find out more about Millennial Potash Corp., please contact Investor Relations at (604) 662 8184 or
email at
.
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MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-
looking statements or information. These forward-looking statements or information may relate to future
prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources,
regulatory or government requirements or approvals including approvals of title and mining rights or
licenses and environmental (including land or water use), local community or indigenous community
approvals, the reliability of third party information, continued access to mineral properties or
infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact
upon the Company or its properties or the commercial exploitation of those properties, currency risks
including the exchange rate of USD$ 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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