- Drillhole WCCD-0005 returned intercepts of 0.36 g/t oxide Au over 17.7m and 0.55 g/t oxide Au over 68.6m, directly below the 2020 NI 43-101 pit shell.
- Drillholes WCCD-0008, WCCD-0009, and WCCD-0011 returned intercepts of 0.36 g/t oxide Au over 51.8m, 0.40 g/t oxide Au over 30.5m, and 0.29 g/t oxide Au over 69.5m, respectively.
- Drillhole WCCD-0012 returned intercepts of 0.34 g/t oxide Au over 30.5m and 0.41 g/t Au over 54.9m (oxide and mixed), ~150m outside the 2020 NI 43-101 pit shell (refer to Table 1 for detailed interval results).
- WCCD-0005 was drilled to gather material for metallurgical studies and to test the highly brecciated oxide material in the eastern part of the 2020 NI 43-101 pit shell. WCCD-0005 intercepted ~70m of mineralization outside the current oxide pit with the oxidation profile visible ~30m deeper than previously modeled.
- WCCD-0012 is located ~250m east of WCCD-0005 and was designed as a step-out hole to test the oxide continuity and geotechnical characteristics of the area. WCCD-0012 extends the oxide mineralization by ~150m to the east of the pit (see Figure 1).
- WCCD-0008 was drilled for metallurgical testing in the center of the north pit, at the highest elevation point at Wildcat. WCCD-0009 and WCCD-0011 were drilled to gather geotechnical data to test the expected north-east high wall (see Figure 2). WCCD-0009 and WCCD-0011 demonstrated excellent grade continuity towards the edge of the oxide pit, which is expected to limit dilution in a future mining scenario.
- Excluding the high-grade intercept, the residual grade of WCCD-0008 is 0.24 g/t oxide Au over 32.0m, which is above the cut-off grade of 0.15 g/t Au (described in the
November 2020 NI 43-101 Technical Report for theWildcat Project available on SEDAR). - Assay results were also received from a deeper intercept of previously reported drillhole WCCD-0004, which were delayed for additional geotechnical analysis. In addition to the reported intercept of 0.93 g/t oxide Au over 41.4m (see news release from
August 16, 2022 ), WCCD-0004 also intercepted 0.74 g/t Au over 38.1m in fresh material (see Figure 1 and Table 2) - All reported drillholes from the Phase 1 program intersected the rhyolitic tuff breccia, which represents the bulk of the mineralization at Wildcat Main Hill. Overall, Phase 1 drilling at Wildcat demonstrated strong grade continuity, no overburden coverage (extremely low strip ratio), and excellent rock competency for favourable pit slope angles, all of which are attractive characteristics for a potential heap leach operation.
- WCCD-0012 was the final drillhole of the Phase 1 program at Wildcat that was intended to intersect mineralization, therefore no additional assay results from the program will be reported. Refer to Table 2 for detailed interval results and Figures 1 and 2 for longitudinal overviews of the Phase 1 drill program at Wildcat.
- Major achievements of the Phase 1 drill program at Wildcat:
- Material collection for metallurgical and geotechnical analysis;
- Enhanced understanding of local geology and primary mineralization controls;
- Successful infill drilling to support mineral resource conversion;
- Successful step-out drilling to support mineral resource growth;
- Oxidation profile visible is deeper than previously modeled; and
- New exploration targets identified for near-term resource growth.
In addition to the Phase 1 drill program at Wildcat, Millennial also recently completed a regional mapping and sampling program which was highly successful in identifying several new mineralized vent systems (primary control of mineralization) and significantly expanding the mineralized footprint at Wildcat to ~3.0km x 2.0km (previously estimated at ~1.5km x 1.5km at the Main Hill). Millennial expects to drill test the new targets once the Exploration Plan of Operations (PoO) has been received from the
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Wildcat is located within the Farrell mining district in
Corporate Website: https://millennialpreciousmetals.com/
The information in this news release was reviewed and approved by Raphael Dutaut, Ph.D.,
Drill core at the Wildcat project is drilled in NQ to PQ size ranges (47.6mm to 85mm). Drill core samples are minimum 50cm and maximum 200cm long along the core axis. All core is sampled, at the exception of the overburden. All of Millennial's drilling samples and field samples were prepared and analyzed at
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the business development objectives and plans of Millennial.
Forward-looking information contained in this news release are based on certain factors and assumptions. While Millennial considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to health pandemics and the outbreak of communicable diseases, such as the current outbreak of the novel coronavirus, COVID-19.
Further, these forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in
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