By Steven Ralston, CFA
TSXV: MLP | OTCQB: MLPNF
Summary
- Drillhole BA-006 has been completed. The hole intersected 80m of cumulative potash mineralization.
- BA-006 extends the known mineralized footprint beyond the boundaries used in the November 2025 MRE
- In addition, BA-006 expands the known potash mineralization to the southwest and to the west toward the coast.
- Furthermore, BA-006 intersected Cycles IX and X evaporite sequences, which had not previously been documented at the Banio Project.
Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF) announced today the completion of drillhole BA-006 at the North Target of its Banio Potash Project in Gabon, a result with meaningful implications for the ongoing expansion of the project's Mineral Resource Estimate (MRE). Drilled to 674m, the hole intersected approximately 80m of cumulative potash mineralization in seams characterized by interbedded carnallite and halite, reinforcing the scale of the deposit ahead of an expected updated MRE targeted for later this year.
The location is also significant. Collared closer to the coast and southwest of the existing resource area, BA-006 extends the known mineralized footprint beyond the boundaries used in the November 2025 MRE, which is comprised of a Measured MRE of 648.2 million tonnes grading 15.7% KCl, an Indicated MRE of 1.8 billion tonnes grading 15.6% KCl, and an Inferred MRE of 3.56 billion tonnes grading 15.6% KCl. Because the new intercept is situated outside the modeled area, it bodes well for incremental tonnage potential once the analytical assay results are available.
Equally significant is the identification of Cycle IX and Cycle X evaporite sequences, which had not previously been documented at the Banio Project. Their presence suggests the potash-bearing stratigraphy may thicken to the west, expanding the vertical extent of mineralization beyond what prior drilling defined. Combined with the fact that BA-006 remained in mineralization at termination depth, the results point to further upside both laterally and at depth.
Taken together, the BA-006 result advances management's objectives of an updated MRE and thereafter a Definitive Feasibility Study (DFS), both of which are targeted for completion by the end of 2026.
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