Millennial Precious Metals (MPM.V) has started its 20,000 meter multi-phase drill program on three of its Nevada-based properties using a total of three or four drill rigs. The drilling activities will kick off at the Red Canyon program where about 2,500 meters will be drilled in an attempt to advance Red Canyon to the discovery stage. All twelve holes of this drill program will be drilled at the Heavenly zone, just one of the ten primary target areas at Red Canyon.
Secondly, Mountain View will be the subject of a 9,250 meter drill program starting at the end of this quarter. Those meters will be focusing on expanding and upgrading the current resource (427,000 ounces of gold in the inferred resource category at an average grade of 0.57 g/t gold) while there should also be some samples earmarked for metallurgical test activities.
The final 8,250 meters will be drilled at Wildcat where a drill program will start in the third quarter. Just like at Mountain View, the Wildcat drill program will be focusing on increasing and upgrading the resource (776,000 ounces of gold in the inferred resource category at an average grade of 0.40 g/t gold) and work on a better understanding of the metallurgical features of the rocks.
Disclosure: The author has a long position in Millennial Precious Metals. Please read our disclaimer.
