Millennial Potash expands mineralization at Banio project
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) said it has completed drillhole BA-006 at the North Target on its Banio Potash Project in Gabon, intersecting approximately 80 metres of potash mineralization and significantly expanding the known potash footprint southwest of the current Mineral Resource Estimate area.
The hole, part of the company’s Phase 2 drill program, reached a depth of 674 metres and intersected the evaporite-bearing Salt Sequence, remaining open to depth from approximately 332 metres to the bottom of the hole.
Within the Salt Sequence, the mineralization occurred in seams characterized by interbedded carnallite and halite.
BA-006 was drilled about 4km west of BA-001 to check whether the potash deposit continues further west from BA-001 and further south from BA-002. Early results show the hole passed through six mineral-bearing layers and each one contained potash.
Notably, the drillhole intersected Cycles IX and X, which had not previously been encountered at the project, suggesting the thickness of potash mineralization may be increasing to the west.
The hole terminated in Cycle V in potash mineralization due to the depth capabilities of the drill rig, with mineralization remaining open at depth as Cycles III and IV have been encountered in BA-001 and BA-002.
Farhad Abasov, Millennial’s chair, said BA-006 was the first hole drilled near the newly acquired permit area closer to the coast, southwest of previous drillholes, and confirmed a significant section of interbedded carnallitite and halite. He noted the area is strategically positioned closer to the planned deep-water port site.
“The mineralization is open at depth which indicates we have even more resource expansion potential,” Abasov said. “We look forward to completing the detailed logging and sampling of these potash horizons and receiving their analytical results.”
Once the drill data is fully analyzed, the company will update its Mineral Resource Estimate to feed into its Definitive Feasibility Study, which is still on schedule to wrap up by the end of 2026, Abasov added.
The Phase 2 program tested for additional potash horizons beyond the current MRE, and the company says BA-006’s results could add tonnage to its existing resource base of 648.2M tonnes Measured, 1.8B tonnes Indicated, and 3.56B tonnes Inferred, all grading roughly 15.6-15.7% KCl.
