Millennium’s 100%-owned land-holding at the Nullagine Project covers 264km2 of the highly prospective and under-explored Mosquito Creek Gold Belt.
The Company has a three-pronged plan to unlock the regional potential within this highly prospective area to deliver a significant step change in production and mine life at Nullagine, aimed at establishing a +5 year mine life based on annual production of +100,000ozpa.
The Nullagine Project hosts a significant Mineral Resource (850,000oz) contained in “fresh” ore, which was previously thought to be untreatable through the existing Nullagine processing facility.
However, recent metallurgical testwork has delivered a major breakthrough, showing that portions of the fresh ore can be processed in the existing CIL plant and the rest in a conventional flotation circuit, with recoveries of up to 90% on fresh material.
A Scoping Study has confirmed the economic and technical strengths of Millennium’s plan to integrate a flotation circuit with the existing 2Mtpa CIL plant, and a Feasibility Study is targeted for completion in the December 2017 Quarter.
Scope also exists for a substantial increase in the fresh ore Mineral Resource at Nullagine, with extensive mineralisation identified beneath all known Resource areas.
An aggressive drilling program is underway to grow the Company’s fresh ore inventory below several key deposits.
A Positive Scoping Study has been completed for an underground mining operation at the Bartons deposit, with studies also underway on several other underground deposits.
Oxide ore has been the foundation of the Nullagine mining operation to date, and oxide exploration will continue to remain a key focus.
Exploration drilling aimed at growing the Nullagine gold inventory and mine life continues to deliver thick, high-grade intersections across multiple prospects.
For more information on Millennium Minerals’ Exploration & Growth initiatives, please see our latest Investor Presentation.