Millennial Potash Launches Phase 2 Drilling at Gabon's Banio Project
In an exciting development for the mineral resources sector, Millennial Potash Corp. is set to embark on its Phase 2 drilling program at the promising Banio potash project in Gabon. This initiative stands as a significant step forward, showing the company’s commitment to harnessing the rich mineral resources of the region.
The drilling program will be executed by Merlin Drilling and will include two potash-specific drill holes, totaling around 1,100 meters of core drilling. Notably, this ambitious effort will extend the historical drill hole BA-001 by approximately 400 meters, alongside the introduction of a new drill hole, BA-004, designed to reach a targeted depth of 700 meters. Both locations are positioned at the project’s north target, where previous exploration has revealed promising potash mineralization horizons.
Farhad Abasov, Chair of Millennial, expressed enthusiasm about this major step: “Initiating our Phase 2 drilling at the Banio project marks an important milestone for us. By extending BA-001 and introducing BA-004, we aim to significantly enhance our potash resources. After drilling, we will update our mineral resource estimate, laying the groundwork for a feasibility study set to start in the coming months.”
The history of the Banio project is compelling. The original BA-001 hole, drilled in 2017, reached 364 meters and encountered a localized feature that halted drilling. However, advancements in geological modeling and extensive experience within the Gabon-Congo basin suggest that the potash horizons may extend deeper and laterally. This informed interpretation lays the ground for the new BA-004, positioned approximately four kilometers east of BA-001. The current geological model posits that the potash-rich salt sequence may appear at depths between 350 to 400 meters.
With objectives aimed at thoroughly assessing the potash-rich horizons both laterally and at depth, the results from this drilling program could offer substantial new data. The possibility of extending the known mineralization to an impressive 8,000 meters could lead to a notable increase in the resource estimates, which currently stand at 657 million tonnes with a potassium chloride grade of 15.9%.
Millennial recently closed a successful financing round of .9 million, providing robust funding for this exploration initiative. The Phase 2 drilling is scheduled to conclude in the second quarter of 2025, after which an updated mineral resource estimate is also planned for release.
Stay tuned to Africazine for more updates on exciting developments in the African minerals sector, as countries like Gabon continue to reveal their economic potential through strategic projects like this one.
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Countries Mentioned: #Gabon
