Highlights:
Drillhole MVCD-0016A returned an intercept of 0.91 g/t oxide Au over 232.5m including a high-grade intercept of 10.88 g/t Au over 11.3m and 2.18 g/t Au over 22.3m (refer to Table 1 for detailed interval results).
- The high-grade intercept is likely further evidence of the plumbing system which controls the lower-grade, bulk oxide portion of the deposit hosted by flow-banded rhyolite.
- The high-grade zone is characterized by a hydrothermal breccia with quartz, pyrite and marcasite within the matrix.
- Grade observed in MVCD-0016A is significantly higher than expected from the block model.
- The high-grade hydrothermal breccia was not reported in the historical RC drilling.
- Actual geometry of the high-grade hydrothermal breccia (>1.0 g/t Au) is approximately 60m x 180m x 140m. MVCD-0016A stepped out 20m from the previous high-grade breccia zone. The zone remains open at depth, to the north west and south east.
- The existing block model at Mountain View is based on historical results, drilled primarily with RC (reverse circulation) rigs. Millennial's program is being completed principally with DDH (diamond drill hole) rigs.
- MVCD-0016A was designed to convert the high-grade resources at the bottom of the current pit shell from Inferred to Indicated in support of an updated mineral resource in 2022.
- Consistent with previous observations, mineralized rhyolite is situated directly below the alluvium, which is composed of sand, gravels and boulders as seen in Figure 1. As a result, it is expected that pre-stripping for open-pit mining will not require conventional drilling and blasting, potentially reducing mining costs.
- Gold mineralization at Mountain View is hosted by flow-banded rhyolite with strong oxidation persisting throughout most of the hole.
- Minor, post-mineral faulting has broken the host rock which is expected to have a positive impact on gold leaching and reduce processing costs.
Table 1: MVCD-0016A Detailed Intercept Results
Hole No. From (m) To (m) Interval (m) Au (g/t) MCVD-0016A 111.5 344.0 232.5 0.91 including 296.3 318.5 22.3 2.18 including 318.5 329.8 11.3 10.88
Figure 1: Cross Section from A – A'. Mineralization Hosted Within the Rhyolite (purple) and Quaternary Alluvium Barren Cap (yellow).
Mountain View Project Overview:
Mountain View is located within the Deep Hole mining district in
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The information in this news release was reviewed and approved by Raphael Dutaut, Ph.D.,
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