Millennium making mine life progress

MILLENNIUM Minerals has boosted ore reserves by 20% ahead of what is expected to be a major upgrade towards mid-year.

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Ore reserves at the Nullagine gold project in the Pilbara now stand at 221,600 ounces of gold, net of mining depletion of 84,808oz.

The average grade of reserves rose to 1.67 grams per tonne gold from 1.4gpt.

Resources currently stand at 22.8 million tonnes at 1.5gpt gold for 1.12 million ounces, with nearly two thirds in the measured and indicated categories.

Millennium drilled over 246,000m at Nullagine last year, targeting a five-year mine life at a targeted production rate of 100,000oz per annum.

The company is currently finalising an expansion study that focuses on the processing of sulphides in addition to oxide ore.

A successful outcome to t...