Millennial Potash Intersects Significant Potash in BA-001-EXT at its Banio Potash Project in Gabon
Millennial Potash Intersects Significant Potash
in BA-001-EXT at its Banio Potash Project in
Gabon
West Vancouver, British Columbia--(Newsfile Corp. - May 6, 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-001-EXT at the North Target on its Banio Potash Project in
Gabon.
Drillhole BA-001-EXT was initially drilled in 2017 and stopped prematurely at approx. 364m in a
zone of soft sediment deformation or slumping rich in carnallitite.
As part of Millennial's Phase 2 drill
program BA-001-EXT was extended to a depth of approximately 678m and intersected numerous
carnallitite seams within approximately 290m of interbedded carnallitite and halite, from 364m to 657m.
Farhad Abasov, Millennial's Chair, commented "Millennial is very pleased to have intersected a robust
section of interbedded carnallitite and halite with the completion of drillhole BA-001-EXT.
Numerous
thick potash seams, in carnallitite form, have been intersected in the extension of BA-001 and in total the
combined +250m of interbedded carnallitite and halite exceeded our expectations.
We are looking
forward to completion of the logging and sampling of the potash horizons and the analytical results.
Extending drillhole BA-001 and drilling
new hole BA-004 has the potential to significantly boost the
project's potash resources.
Upon completion of the drilling an updated Mineral Resource Estimate is
expected to be completed which would form the foundation of a Feasibility Study expected to begin in
the coming months."
Drillhole BA-001 was originally drilled in 2017 to a depth of 364m where massive carnallitite was
intersected but with variable bedding orientations which were originally interpreted as representing a
fault zone.
MLP's geological model, based on extensive experience in the Gabon-Congo Basin,
recognized this variability in bedding as soft sediment deformation and confined to only the upper
evaporite cycles in the basin.
Drillhole BA-001 was re-entered and drilled to a depth of 678m after
encountering numerous evaporite cycles and carnallitite seams from approx. 364m to a depth of 657m
(see core Photos 1 and 2 below).
Detailed core logging and final interpretation of evaporite cycle and
seam identification 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_001-EXT showing interbedded nodular Carnallite and
Halite with soft sediment deformation features at approx. 503m to 508m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/250646_ee1af0cf2469484f_001full.jpg
Photo 2 Red Carnallite-rich core from BA-001-EXT with massive nodular Carnallite and bedded
Halite at approx. 653m to 656m depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/250646_ee1af0cf2469484f_002full.jpg
Upon completion of BA-001-EXT the drill rig will move 3.7km east to drillhole BA-004 which 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 250m - 650m 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
tonnage to Indicated status.
The Phase 2 drill program is expected to be completed in Q2, 2025 and is expected to be followed by a
revised Mineral Resource Estimate.
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
.
Keep up-to-date on Millennial Potash developments and join our online communities on:
,
,
,
and
YouTube
.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/250646