Millennial Precious Metals Corp. [MPM-TSXV] reported inaugural laboratory results for its Phase 1 drill campaign at the Red Canyon Project in Nevada. Red Canyon is a Carlin-style, sediment-hosted gold project in the heart of the Battle Mountain-Eureka mineral trend, located 50 km northwest of the town of Eureka and 37 km southeast of the 20-million-ounce Cortez Hills mine complex.
The property consists of 6,500 acres (2,600 hectares) containing several target zones. In early May, Millennial commenced Phase 1 of a 12-drill-hole program designed to tighten the geological controls and three-dimensional geometry of gold mineralization at the Heavenly target zone. The results are from the first two drill holes completed in this phase of drilling.
Phase 1 drill holes are designed to test the extents of oxidized mineralization in the central zone of the Heavenly target, while validating gold values and lithology.
Gold assay results from holes HVN-2021-001RD and -002RD report oxidized mineralization throughout the full extent of the two drill holes. Information provided by these first two holes indicates the gold mineralization is stratabound hosted in calcareous siltstone dipping moderately to the southeast. Mineralization is open to the south and southeast.
Composite highlights of holes HVN-2021-001RD and -002RD include:
Drill hole HVN-2021-001RD returned a wide high-grade intercept of 2.6 g/t gold over 22 metres, including 3.0 g/t gold over 19 metres, with local grades as high as 7.72 g/t over 1 metre.
Drill hole HVN-2021-002RD returned high-grade intercepts of 4.54 g/t gold over 54 metres, including 9.18 g/t gold over 22 metres, with local high grades of 19.16 g/t over 5 metres.
“We are very excited to have this initial data from our drill program at Red Canyon, and we expect similar results from the remaining 10 holes over the coming weeks. Exploration is very active in Nevada, we are fortunate to have received these optimistic results in such a timely manner,” stated Jason Kosec, president and CEO. “The mineralization potential at the Heavenly zone is very promising. This program will test the boundaries of mineralization and expand our current understanding of the geology at Red Canyon as a whole.”
Millennial Precious Metals is a Nevada-based development company focused on unlocking quality ounces through the responsible expansion of its seven gold projects. The company plans to accelerate the development of its two flagship projects: Wildcat and Mountain View. The Wildcat inferred mineral resource estimate contains 776,000 ounces of gold oxide (60.8 million tonnes at 0.40 g/t gold), and the Mountain View inferred mineral resource estimate contains 427,000 ounces of gold oxide (23.2 million tonnes at 0.57 g/t gold).