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    MPM   CA60041N1042

MILLENNIAL PRECIOUS METALS CORP.

(MPM)
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Millennial Precious Metals Corp. Intersects 1.73 G/T Oxide Au over 128.3M, Including 74.8 G/T Au over 3.35M and 141.73 G/T Au over 0.82M At Mountain View Project

10/05/2021 | 04:40pm EST

Millennial Precious Metals Corp. provided results from the ongoing resource conversion and exploration drill program currently being conducted at its Mountain View project located in Nevada, USA, as a part of the fully funded 20,000m maiden drill program. The 2021 Phase 1 Mountain View drill program consists of 30 holes, totaling 7,250m, and is approximately 65% complete. Millennial expects to continue to release drill results from the program every 2-3 weeks. Highlights: Drillhole MVCD-0004 returned an intercept of 1.73 g/t oxide Au over 128.3m including a high-grade intercept of 74.8 g/t Au over 3.35m and 141.73 g/t Au over 0.82m. The high-grade intercept is likely first evidence of the plumbing system which controls the lower-grade, bulk oxide portion of the deposit hosted by flow-banded rhyolite. The high-grade intercept is characterized by a subvertical hydrothermal breccia dike affected by silica, clay and fine-grained sulphides that are now completely oxidized. The high-grade intercept sits within the current pit shell, however deeper holes are planned below the pit shell which have the potential to add significant underground ounces and potentially support an underground mining operation once the open pit has been fully mined. The high-grade hydrothermal breccia was not reported in the historical RC drilling. The high-grade zone is characterized by a hydrothermal breccia with quartz, pyrite and marcasite within the matrix. MVCD-0004 was designed to convert resources within the current block model from Inferred to Indicated and target the feeder zone in the epithermal system in support of an updated mineral resource in H1 2022 and PEA in H2 2022. The existing block model at Mountain View is based on historical results, drilled primarily with RC (reverse circulation) rigs. Millennial's program is being completed principally with DDH (diamond drill hole) rigs. Grade observed in MVCD-0004 is ~33% higher than expected from the block model. MVCD-0004 results were evaluated excluding the high-grade intercept (74.81 g/t Au over 3.35m) which generated an overall grade of 0.82 g/t Au, significantly higher than the block model estimate. Based on Millennial's interpretation, it appears that the mineralized rhyolite is situated directly below the alluvium, which is composed of sand. As a result, it is expected that pre-stripping for open-pit mining will not require conventional drilling and blasting, potentially reducing mining costs. Minor, post-mineral faulting has broken the host rock which is expected to have a positive impact on gold leaching and reduce processing costs.


ę S&P Capital IQ 2021
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10/06MILLENNIAL PRECIOUS METALS : Intersects 1.73 gt Oxide Au Over 128.3m, Including 49.5 gt Au..
AQ
10/05MILLENNIAL PRECIOUS METALS : Says Intersected 1.73 g/t Oxide Au Over 128.3m, Including 74...
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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 66,4 M 52,5 M 52,4 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float -
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Jason Kosec President, Chief Executive Officer & Director
AndrÚs Tinajero Chief Financial Officer
Ruben Padilla Director
Michael George Leskovec Director
Sara C. Heston Director