Otways and Little Wonder Mineral Resources
Millennium Minerals Limited (“Millennium” or “the Company”) is pleased to announce Mineral
Resource estimates for 2 gold deposits located within the Nullagine Gold Project in the East
Pilbara District of Western Australia. The two gold deposits, namely Otways and Little
Wonder deposits were drilled during 2006 and 2007 but were never considered significant
due to their size.
The Otways deposit is located approximately 300 metres to the south east of the Shearers
deposit and contains a Mineral Resource estimate of 1,044,000 tonnes at 0.82 g/t Au using a
0.5 g/t cut-off for 27,000 ounces contained. These Mineral Resources are classified as
Indicated and Inferred under the 2004 JORC code.
The Little Wonder deposit is located approximately 2.5km to the east northeast of All Nations
and contains an Indicated Mineral Resource estimate of 583,000 tonnes at 1.22 g/t Au using
a 0.5 g/t cut-off for 22,900 ounces.
Both deposits are open along strike and at depth.
The Company’s flagship asset, the Nullagine Gold Project, is located south east of Port
Hedland in Western Australia’s richly mineralised East Pilbara region, approximately
10 kilometres from the town of Nullagine.
A feasibility study completed in 2007 was recently updated to reflect current costs and gold
price assumptions (ASX announcement of 19 October 2009). The base case option selected
for the update of the feasibility study was a nominal 7 year operation mining and processing
7.97Mt ore using an average gold extraction of 87% yielding 404,000 ounces.
An exploration programme comprising approximately 10,000 metres of RC, 5,000 metres of
RAB and 1,000 metres of diamond core is currently being planned with a commencement
date scheduled for the end of January 2010.
www.millenniumminerals.com.au/documents/...ldProjectUpdate.pdf
Millennium Minerals Limited (“Millennium” or “the Company”) is pleased to announce Mineral
Resource estimates for 2 gold deposits located within the Nullagine Gold Project in the East
Pilbara District of Western Australia. The two gold deposits, namely Otways and Little
Wonder deposits were drilled during 2006 and 2007 but were never considered significant
due to their size.
The Otways deposit is located approximately 300 metres to the south east of the Shearers
deposit and contains a Mineral Resource estimate of 1,044,000 tonnes at 0.82 g/t Au using a
0.5 g/t cut-off for 27,000 ounces contained. These Mineral Resources are classified as
Indicated and Inferred under the 2004 JORC code.
The Little Wonder deposit is located approximately 2.5km to the east northeast of All Nations
and contains an Indicated Mineral Resource estimate of 583,000 tonnes at 1.22 g/t Au using
a 0.5 g/t cut-off for 22,900 ounces.
Both deposits are open along strike and at depth.
The Company’s flagship asset, the Nullagine Gold Project, is located south east of Port
Hedland in Western Australia’s richly mineralised East Pilbara region, approximately
10 kilometres from the town of Nullagine.
A feasibility study completed in 2007 was recently updated to reflect current costs and gold
price assumptions (ASX announcement of 19 October 2009). The base case option selected
for the update of the feasibility study was a nominal 7 year operation mining and processing
7.97Mt ore using an average gold extraction of 87% yielding 404,000 ounces.
An exploration programme comprising approximately 10,000 metres of RC, 5,000 metres of
RAB and 1,000 metres of diamond core is currently being planned with a commencement
date scheduled for the end of January 2010.
www.millenniumminerals.com.au/documents/...ldProjectUpdate.pdf
