MILLENNIAL PRECIOUS METALS CORP. The magnetic lineaments and magnetic relief, which commonly correlate with altered and potentially demagnetized host rocks, also correlate closely with anomalous precious metals outlined in the Company's 2020 geological evaluations, and in its 2021 soil and rock geochemical sampling. The results of the Company's present compilation work will be employed during its 2023 exploration program to focus further geological mapping and geochemical sampling efforts, and to lay a foundation for ground geophysical surveys (for example, Controlled Source Audio Magneto-Telluric (CSAMT) and/or induced Polarization (IP) surveys).
The aim is that these surveys will lead to drill-testing of targets which display the most attractive combination of geological, geochemical, and geophysical features. The drone-mag surveys at Glitra-Sat covered the entirety of the two properties with flight lines spaced 50 meters apart and flown on azimuths perpendicular to known and/or interpreted stratigraphic, structural, mineralized and altered trends. Technical details of the surveys, and products thereof, are given below. The aim of the surveys was to better outline altered and mineralized trends on the properties, which may be expressed, for example, as magnetic lows reflecting magnetite destruction accompanying alteration within relatively magnetic host rocks. This should prove particularly helpful in areas where mineralized trends appear to continue beneath areas partially to completely covered by overburden.
Glitra-Sat Update
At the Glitra-Sat project, the Company has three separate but closely spaced properties in the
Glitra-Sat Technical
Details Results of the drone-mag survey at Satshowed an excellent correlation between an aeromagnetic low and an existing 600 metre long north-northeast to northeast trending gold-in-soil geochemical anomaly returning gold results ranging up to 904 ppb. Recently a short geological traverse confirmed that the anomaly coincides with brecciated and commonly limonitic felsic rocks that appear to cut mafic volcanic rocks of probable Tertiary age. The felsic rocks and their immediate wall rocks have been altered and mineralized by hydrothermal activity that have 'bleached' their hosts and which likely generated the geochemical anomalies. Other nearby but less well-defined geochemical anomalies on the Sat property also appear to be associated with similar magnetic lows, and while generally poorly exposed, these adjacent areas also show a close association with similarly clay, pyrite and silica altered and brecciated rocks that are evident in float as well as in sparse local outcrop and subcrop. The Glitra property is underlain by a diverse and generally older suite of host rocks with a different magnetic signature to that at Sat. However, the Glitra property shows a similarly close association between altered and mineralized rocks, precious metals enriched soil and rock geochemistry, and a strong and persistent north-northeast trending airborne magnetic low. The soil geochemical anomaly hosts a number of samples exceeding 1 g/t gold. The Glitra property also shows a number of intriguing subparallel linear magnetic features that remain to Page 2 of 7 be investigated. The Company looks forward to investigating these features with geologic mapping, and rock and soil geochemical sampling, all as part of its 2023 exploration program. 'We remain encouraged with the outcome of the magnetic surveys at Glitra and Sat. The data shows strong correlation between high-tenor soil geochemical and magnetic trends on both parcels. This was our expectation and glad to see the theory was tested. We will follow up on these results during our 2023 exploration program with more detailed exploration over the anomalous areas with an ultimate aim of drill-testing high-potential targets on both parcels' commented President,
About the Glitra-Sat Projects
The Glitra and Sat properties are sister properties, with the relatively small 'Orbit' property lying between. They are located in
Contact:
Tel: 604-357-3741
This news release includes certain statements that constitute 'forward-looking information' within the meaning of applicable securities law, including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forwardlooking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.'
(C) 2023 Electronic News Publishing, source
