TSXV | MPM
TORONTO, Dec. 7, 2021 /CNW/ - Millennial
Precious Metals Corp. (TSXV: MPM) (OTCQB: MLPMF)
("Millennial" or the "Company") is pleased to provide 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. Millennial
expects to continue to release drill results from the program every
month.
Highlights:
- MVCD-0013 returned an intercept of 0.32 g/t oxide Au
over 164.6m including
intercepts of 0.94 g/t Au over 21.3m and 0.90 g/t Au over 27.6m (refer to Table 1 for detailed interval
results and Figure 5 for cross section).
-
- Mineralization is characterized by the disseminated oxide
portion of the deposit hosted by flow-banded rhyolite
- Higher-grade zones are present at the top of the hole near
surface and extend approximately 40m
past the current pit shell (refer to Figure 5)
- MVCD-0013 was designed to convert resources within the current
block model from Inferred to Indicated in support of the updated
mineral resource and PEA in 2022
- MVCD-0013 was successful in infilling the block model to aid in
resource conversion
- Consistent with previous observations, mineralized rhyolite at
Mountain View is situated directly below the alluvium, which is
composed of sand, gravels and boulders as seen in Figure 5. As a
result, it is expected that pre-stripping for open-pit mining will
not require conventional drilling and blasting, potentially
reducing mining costs.
- MVCD-0008, MVCD-0010, MVCD-0011, and MVCD-0012
holes were drilled within the northeastern, lower grade portion of
the current pit shell (refer to Table 1 for detailed interval
results and Figures 1-4 for cross sections).
-
- Mineralization is characterized by the disseminated oxide
portion of the deposit hosted by flow-banded rhyolite
- Drill holes were designed to convert resources within the
current block model and for metallurgical work on the lower grade
zones
- MVCD-0008, MVCD-0010, MVCD-0011, MVCD-0012 were all successful
in infilling the block model to aid in resource conversion.
- MVCD-0010 mineralization extended 24m beyond the current pit shell; MVCD-0012
mineralization extended 92m beyond
the current pit shell
Jason Kosec, President, CEO &
Director of Millennial stated, "we are pleased with the recent
results at our Mountain View project, highlighted by MVCD-0013. The
consistency of grade continues to impress our technical team at
site. It was especially nice to see the highest-grade portion of
MVCD-0013 near surface and extending ~40m past the current pit
shell, which has the potential to enhance project economics. The
team at site will continue to drill through the winter months at
Mountain View. We expect to complete the drill program in Q1 2022
which will feed the updated resource and PEA later in 2022."
Millennial Webinar Scheduled for December 9, 2021:
Millennial will provide a 2021 year-end update presentation
during a webinar hosted by Adelaide Capital on December 9, 2021, at 2:00pm EST. The webinar will feature a
presentation from Jason Kosec,
President, CEO and Director as well as a Q&A session.
To register for this event, please use the following link:
https://us02web.zoom.us/webinar/register/WN_DH4FLfmhSAeWj9_0bkWAyw
The webinar will also be live-streamed to the Adelaide Capital
YouTube Channel:
https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw
Mountain View Project Overview:
Mountain View is located within the Deep Hole mining district in
Nevada, 24km north of the town of
Gerlach within Washoe County. The project area is covered by
a 3,169-acre land package consisting of 154 unpatented claims,
located on federally owned lands administered by the U.S. Bureau of
Land Management (BLM). Gold-dominated mineralization at Mountain
View consists of low sulfidation epithermal veins and disseminated
oxide and sulphide mineralization hosted in Cenozoic volcanic
rocks. Mountain View has an Inferred mineral resource estimate
containing 427,000 ounces of Au (oxide) (23.2 million tonnes at
0.57 g/t Au; effective date of November 15,
2020).
ABOUT MILLENNIAL PRECIOUS METALS CORP.
Millennial Precious Metals (TSXV:MPM) (OTCQB:MLPMF) is a
Nevada-based exploration and
development company focused on unlocking quality ounces through the
responsible expansion of its seven gold projects. The Company plans
to accelerate the development of its two flagship projects, Wildcat
and Mountain View. The Wildcat Inferred Mineral Resource estimate
contains 776,000 ounces of Au oxide (60.8 million tonnes at 0.40
g/t Au; effective date of November 18,
2020) and the Mountain View Inferred Mineral Resource
estimate contains 427,000 ounces of Au oxide (23.2 million tonnes
at 0.57 g/t Au; effective date of November
15, 2020). Each of the technical report titled "NI 43-101
Technical Report Resource Estimate for the Wildcat Project,
Pershing County, Nevada,
United States", dated November 20, 2020 with an effective date of
November 18, 2020 prepared by
William J. Lewis, B.Sc., P.Geo.,
Rodrigo Calles-Montijo, MSc., CPG,
and Leonardo de Souza, MAusIMM (CP)
and the technical report titled "NI 43-101 Technical Report for the
Mountain View Project, Washoe Country, Nevada, USA", dated November 25, 2020 with an effective date of
November 15, 2020, prepared by
William J. Lewis, B.Sc., P.Geo.,
Rodrigo Calles-Montijo, MSc., CPG,
and Leonardo de Souza, MAusIMM (CP)
is available on Millennial's issuer profile on SEDAR at
www.sedar.com.
Millennial Precious Metals is led by an experienced management
team and board of directors with a proven track record of success
in financing and developing mining assets. The Company is well
positioned to create value for all stakeholders by applying a
systematic strategy to develop all seven gold projects over the
next few years.
QUALIFIED PERSON
Leonardo De Souza, P. Geo., is
the Qualified Person for the scientific and technical information
contained inthis press release and is an independent Qualified
Person within the meaning of National Instrument 43- 101.
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 North
America and internationally, (2) the inherent uncertainties
and speculative nature associated with mineral exploration, (3) a
decreased demand for precious metals, (4) any number of events or
causes which may delay exploration and development of the property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labour problems, (5) the risk that
the Company does not execute its business plan, (6) inability to
finance operations and growth, (7) inability to obtain all
necessary permitting and financing, and (8) other factors beyond
the Company's control. These forward-looking statements are made as
of the date of this news release and Millennial does not assume an
obligation to update these forward looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements, except in accordance with applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies
of the TSX Venture Exchange, accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Millennial Precious Metals Corp.