Millennial Potash Corp. (TSX.V: MLP, OTCQB: MLPNF, FSE: X0D) has reported the successful completion of drillhole BA-004 at the North Target of its Banio Potash Project in Gabon. The hole was drilled as part of the company’s ongoing Phase 2 program and reached a total depth of 667m.
BA-004 intersected the evaporite-bearing Salt Sequence beginning at approximately 260m, continuing uninterrupted to the bottom of the hole. Within this sequence, over 100 metres of potash-bearing seams were encountered, characterized predominantly by interbedded carnallite and halite.
Farhad Abasov, Chair of Millennial Potash, 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 BA004, 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 BA004 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 located approximately 3.7 kilometres east of BA-001-EXT and was designed to explore the eastward extension of potash mineralization previously identified in holes BA-001, 001-EXT, 002, 002-EXT, and 003. Initial geological logging suggests strong continuity, with BA-004 intersecting seven evaporite cycles (Cycles II to VIII), each showing potash mineralization.
Preliminary review of the core reveals well-defined horizontal bedding dominated by alternating layers of halite and carnallite. Early estimates based on core logging suggest a cumulative thickness of carnallite-rich seams exceeding 100 metres. Detailed geological logging, geophysical interpretation, and sampling are currently underway. All samples will be submitted to the Saskatchewan Research Council for analysis in the coming weeks.
These ongoing positive results will contribute to an updated Mineral Resource Estimate, which is expected to support the initiation of a feasibility study later this year.
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