The Phase 1 drill program at Mountain View consisted of 27 holes totaling 7,200m with the objective of resource conversion, collecting geotechnical and metallurgical data, validating grade continuity, and extending the mineralization laterally to increase the pit size.
Highlights
Drillhole MVCD-0024 returned an intercept of 1.48 g/t Au over 185.5m (mixed oxide-fresh material) including a high-grade intercept of 3.99 g/t Au over 36.9m and 2.60 g/t Au over 29.6m. Drillhole MVCD-0025 returned intercepts of 0.42 g/t Au over 19.8m, 0.27 g/t Au over 15.9m and 0.53 g/t Au over 21.0m within the oxide material, as well as 0.61 g/t Au over 17.1m within the mixed material (oxide-fresh).
MVCD-0024 was designed as a step out hole to test the continuity and strike extent of the breccia body toward the expected feeder zone. MVCD-0024 extended the breccia body northwest by 100m. The exact geometry and true width of the breccia body remain unknown due to the limited amount of diamond drilling completed (5 holes to date).
Observations indicate that grade increases to the northwest, suggesting a closer proximity to the feeder zone. The high-grade breccia has not been drilled to the northwest and remains open.
Other holes from the Phase 1 drill program that intersected the breccia have display similar grades and continuity to MVCD-0024: MVCD-0004 (1.73 g/t Au over 128.3m), MVCD-0015 (0.49 g/t Au over 275.5m), MVCD-0016A (0.91 g/t Au over 232.5m), and MVCD-0021 (0.46 g/t Au over 189.0m).
Excluding the high-grade intercepts, the residual grade of hole MVCD-0024 is 0.43 g/t Au over 119.0m, which is significantly above the cut-off grade of 0.14 g/t Au (described in the
The high-grade zone is characterized by a highly silicified rhyolite and oxidized pyrite within the matrix. The oxidation profile is visible to 230m downdip and is followed by a mixed transition zone (approximately 50% oxide, 50% fresh rock) which extends to the end of the hole at a depth of 330m.
MVCD-0024 intersects the existing pit shell at a depth of 210m (down hole) before the new intercept of 3.99 g/t Au oxide over 36.9m; the high-grade intercept stepped out 100m (horizontally) to the northwest from the 2020 NI 43-101 pit limit.
MVCD-0025 was drilled to collect environmental data from the proposed northwest pit wall (geochemical & environmental analysis). In addition to providing critical information for future mining permitting, MVCD-0025 unexpectedly intersected numerous large mineralized secondary structures, however was forced to shut down within the high-grade breccia body due to technical issues with the drill.
MVCD-0024 and MVCD-0025 are the final holes from the Phase 1 program at Mountain View that were intended to intersect mineralization. The remaining holes from the program are technical in nature (geotechnical, environmental, and metallurgical), therefore no additional assay results from the Phase 1 program will be reported.
ABOUT
CAUTION REGARDING FORWARD LOOKING STATEMENTS
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
Contact:
Tel: 250-552-7424
Email: jason.kosec@millennialpm.com
(C) 2022 Electronic News Publishing, source