Business
Potash Mineralization Intersected in the Extension of BA-002 and Update on the Gabon Post-Election Situation and Recent Private Placement
West Vancouver, British Columbia--(Newsfile Corp. - August 30, 2023) - Millennial Potash Corp. (...
About this update from Millennial Potash Corp
[{"type":"text","content":"Potash Mineralization Intersected in the Extension of BA-002 and Update on the Gabon Post-Election Situation and Recent Private PlacementWest Vancouver, British Columbia--(Newsfile Corp. - August 30, 2023) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to report that the drilling of the extension to BA-002 is in progress and has intersected potash mineralization beyond the bottom of the historic drillhole. In addition, Millennial is providing an update on the political situation in Gabon following elections on Aug. 26 and the status of the private placement announced on Aug. 28th.Farhad Abasov, Millennial's Chair, commented, \"Millennial is pleased to have intersected potash mineralization in the form of beds of carnallite in the extension drilling below BA-002. The preliminary interpretation indicates this mineralization is part of evaporite Cycle IV and adds potential expansion of the potash zone as this Cycle has not been intersected previously. Sampling results are expected in 4-6 weeks and upon completion of this extension the drill rig will continue with the extension of BA-001. Our operations are not affected by the current political situation in the country.\"Millennial's Phase 2a drill programme is in progress with the extension of historic drillhole BA-002 now coring beyond the bottom of the old hole at a depth of 1approx. 519m (see photo below). Potash mineralization, in the form of bright red nodular carnallite bedding was intersected and is interpreted as part of Cycle IV evaporite sequence. Core is currently being logged and sampled and will be expedited to SRC Potash Laboratory in Saskatchewan for analysis.Potash-rich drill core from BA-002 Extension showing red carnallite mineralization at a depth of approx. 519m.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4674/179005_40e00b5124ec3aa9_001full.jpgGabon conducted presidential elections on Aug. 26th and the incumbent president was declared the winner. However, some opposition groups have contested the results and there is some uncertainty as to the current political situation within the country. We have received no reports of unrest or any other disturbance around our operations in the southern part of the country. Reports from Millennial staf...