Millennial Potash has reported that there is about 132 m of cumulative potash mineralisation in drillhole BA-007 at its Banio project, in Gabon.
The company says the drillhole was completed to a depth of about 625 m and the subsequent result highlights the potential to expand the zone of potash mineralisation at the project and potentially add additional resources to this project.
“This is one of the thickest intersections of potash mineralisation intersected to date at the project,” says Millennial chairperson Farhad Abasov.
He adds that drillhole BA-007 significantly expands the known potash footprint west of the current mineral resource estimate (MRE) area, bringing the mineralisation closer to the planned processing facility and planned deep-water port sites.
“Once all drill data have been interpreted and compiled, an updated MRE is expected to be completed, providing a key foundation for the ongoing definitive feasibility study (DFS),” Abasov says.
Currently, the Banio project has a massive amount of estimated resources including a measured amount of 648.2-million tonnes containing 15.7% potash, an indicated amount of 1.8-billion tonnes containing 15.6% potash and an inferred amount of 3.56-billion tonnes also containing 15.6% potash.
Meanwhile, Millennial also points out that drilling is currently ongoing at drillhole BA-008, located about 2 km south of drillhole BA-006.
The company says it continues to advance its DFS, which is being undertaken by multidisciplinary company Micon International, in partnership with engineering consultancies Zenito and Agapito Associates.