- Millennial Potash (TSXV:MLP) announced a new drill rig has arrived at its Banio Potash Project in Gabon
- The new drill rig will drill hole BA-002 to extend it to test the occurrence of additional potash cycles at depth
- The rig has the potential to collect large drill-core to depths over 1,200 metres
- Shares of Millennial Potash are unchanged at C$0.47
A new drill rig has arrived at Millennial Potash’s (TSXV:MLP) Banio Potash Project in Gabon.
In a news release, the agriculture company said the rig has been assembled at drillhole BA-002 to extend the hole for testing the occurrence of additional potash cycles at depth.
The drill rig has the potential to collect large drill-core to depths over 1,200 metres, which will enable Millennial Potash in exploring and testing the 10 potash cycles at the Banio Potash Project.
“The rig will extend two historic holes to delineate deeper potash cycles and then move to a new drill site to expand the extent of the known potash mineralization in preparation for a potential resource estimate in Q4 2023,” Farhad Abasov, chairman of Millennial Potash, said in a statement.
Once the BA-002 extension has been completed, the company said hole BA-004, located four kilometres east of BA-001, will test the potential of potash mineralization in that basin’s region.
The drilling program at the North Target is expected to be completed in Q4 2023 and will form the basis for a Maiden Resource Estimate.
Shares of Millennial Potash are unchanged at C$0.47.
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