Three Nevada Projects All Showing Progress
TORONTO - Jason Kosec, President and CEO of Millennial Precious Metals said, "We are very pleased with the progress we are seeing from our maiden drill program. The geology at Red Canyon is becoming more exciting with intercepts ranging from 11-54m and grades ranging from 0.48-4.54 g/t Au oxide from surface. The first holes at the Mountain View program look very promising with strong pervasive oxidation throughout the host rhyolite unit. In addition, our team of geologists is very excited by the initial field work we are completing at Wildcat and we look forward to beginning the Phase 1 drilling in October and wrapping up in November. Our phased drilling strategy ensures consistent news flow to the market through the rest of 2021 and continuing once the Phase 2 program at Red Canyon kicks off in 2022." The projects are all located in Nevada.
Red Canyon is located within the Cortez/Tonkin Springs mining district in Nevada, 75km northwest of Eureka. The project area is covered by 7,189-acre land package consisting of 254 unpatented claims. The claims are federally owned lands administered by the U.S. Bureau of Land Management (BLM). Gold mineralization at Red Canyon is sediment-hosted, Carlin-style, including deeply oxidized bodies overlying sulfide mineralization. At this point there are no defined mineral resources at Red Canyon, however 10 drill-ready targets have been identified. Millennial is currently leasing the Red Canyon Property and it has an option to acquire it in the future.
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 2,460-acre land package consisting of 127 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 that contains 427,000 ounces of Au (oxide) (23.2 million tonnes at 0.57 g/t Au; effective date of November 15, 2020).
Wildcat is located within the Seven Troughs mining district in Nevada, 56km north of the town of Lovelock within Pershing County. The 9,380-acre land package consists of 481 unpatented claims and 4 patented claims, located on federally owned lands administered by the U.S. Bureau of Land Management (BLM). The mineralization at Wildcat consists of gold-dominated, low sulfidation epithermal veins and disseminated oxide and sulphide mineralization hosted in volcanic- and intrusive-rocks. The Inferred Mineral Resource estimate at Wildcat contains 776,000 ounces of Au (oxide) (60.8 million tonnes at 0.40 g/t Au; effective date of November 18, 2020).