TSXV: MPM | OCTQB: MLPMF
TORONTO, Jan. 24,
2023 /CNW/ - Millennial Precious Metals Corp. (TSXV:
MPM) (OTCQB: MLPMF) ("Millennial" or the "Company") is pleased to
announce that on January 23, 2023,
the Company submitted an Exploration Plan of Operations ("EPO") to
the Bureau of Land Management ("BLM") for its Mountain View project
located in Nevada, USA.
Jason Kosec, President, CEO
& Director of Millennial commented, "We are thrilled to
announce the submission of the EPO for Mountain View. The proposed
EPO project boundary of 3,428 acres will allow for up to 400 acres
of surface disturbance, which is a significant upgrade from the
5-acre limit under the current Notice of Operations. This exciting
news follows last week's announcement of outstanding initial
metallurgical results from Mountain View, with oxide bottle roll
gold recoveries up to ~95%. Phase 1 drilling at Mountain View,
completed in May 2022, confirmed the
high-grade breccia discovery and opened the deposit for future
expansion to the northwest. Limited historical exploration
drilling has been completed at Mountain View due to alluvium cover,
therefore we expect the next phase of drilling under the EPO to not
only significantly increase the size of the known mineralization,
but also to materially enhance our geologic understanding of the
deposit."
Mountain View Exploration Plan of
Operations:
Environmental baseline resource studies were conducted at
Mountain View throughout the 2021-2022 field season in advance of
submitting the EPO, including a field inventory of biological and
cultural resources within the 3,428-acre EPO project boundary. The
environmental baseline studies will serve as the foundation for
continued advancement of Mountain View through the exploration and
pre-development phases and will also be used as the basis for an
Environmental Assessment ("EA") as required by the National
Environmental Policy Act ("NEPA"). As a federal agency, the BLM is
responsible for preparing an EA in accordance with NEPA to identify
any significant environmental impacts of the proposed EPO.
Millennial has engaged a third-party consultant to assist with the
preparation of the EA and is committed to working closely with the
BLM to ensure that the process is completed in a timely manner.
The proposed EPO boundary at Mountain View covers 3,428 acres
within Millennial's 5,476-acre land package (see Figure 1). Initial
drilling at Mountain View was confined to 5 acres of total surface
disturbance under the current Notice of Operations, whereas the
proposed EPO includes up to 400 acres of disturbance over several
phases, beginning with 81 acres of disturbance in the first phase.
The EPO will allow for expanded exploration drilling of new targets
and resource infill drilling to further define the current mineral
resource area. In preparation for the Mine Plan of Operations
("MPO"), the EPO also allows for water well drilling for
hydrogeologic characterization and geotechnical test pits/trenches
to characterize geotechnical conditions in the prospective mineral
processing area.
Mountain View Project
Overview:
Mountain View is located within the Deep Hole mining district in
Nevada, 24km north of the town of
Gerlach within Washoe County. The project area is covered by
a 5,476-acre land package consisting of 282 unpatented claims,
located on publicly-owned lands administered by the BLM.
Gold-dominated mineralization at Mountain View consists of low
sulphidation epithermal veins and disseminated oxide and sulphide
mineralization hosted in Cenozoic volcanic rocks. Mountain View has
an Inferred mineral resource estimate containing 427,000 ounces of
Au (oxide) (23.2 million tonnes at 0.57 g/t Au; effective date of
November 15, 2020). A technical
report for the Mountain View Project is available on Millennial's
issuer profile on SEDAR at www.sedar.com.
ABOUT MILLENNIAL PRECIOUS METALS
CORP.
Millennial Precious Metals (TSXV:MPM, OTCQB:MLPMF) is an
exploration and development company focused on unlocking quality
ounces through the responsible expansion of its eight gold and
silver projects located in Nevada
and Arizona, USA. The Company
plans to accelerate the development of its two flagship projects
located in Nevada: Wildcat and
Mountain View. The Wildcat Inferred Mineral Resource estimate
contains 776,000 ounces of oxide Au (60.8 million tonnes at 0.40
g/t Au; effective date of November 18,
2020) and the Mountain View Inferred Mineral Resource
estimate contains 427,000 ounces of oxide Au (23.2 million tonnes
at 0.57 g/t Au; effective date of November
15, 2020). Technical reports titled "NI 43-101 Technical
Report Resource Estimate for the Wildcat Project, Pershing County, Nevada, United States", dated November 20, 2020 with an effective date of
November 18, 2020 prepared by
William J. Lewis, B.Sc., P.Geo.,
Rodrigo Calles-Montijo, MSc., CPG,
and Leonardo de Souza, MAusIMM (CP)
and "NI 43-101 Technical Report for the Mountain View Project,
Washoe Country, Nevada, USA",
dated November 25, 2020 with an
effective date of November 15, 2020,
prepared by William J. Lewis, B.Sc.,
P.Geo., Rodrigo Calles-Montijo,
MSc., CPG, and Leonardo de Souza,
MAusIMM (CP) are available on Millennial's issuer profile on SEDAR
at www.sedar.com.
Millennial Precious Metals is led by an experienced management
team and board of directors with a proven track record of success
in financing and developing high-quality mining projects. The
Company is well positioned to create value for all stakeholders by
applying a systematic strategy to advance and de-risk all eight
projects over the next few years.
QUALIFIED PERSON
The information in this news release was reviewed and approved
by Raphael Dutaut, Ph.D., P.Geo., Vice President, Exploration for
Millennial Precious Metals Corp. Mr. Dutaut is a QP as defined by
NI 43-101.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements in this news release are forward-looking
statements, which reflect the expectations of management regarding
the business development objectives and plans of
Millennial.
Forward-looking information contained in this news release
are based on certain factors and assumptions. While Millennial
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. Forward
looking information involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information. Such factors include risks inherent in
the exploration and development of mineral deposits, including
risks relating to changes in project parameters as plans continue
to be redefined, risks relating to variations in grade or recovery
rates, risks relating to changes in mineral prices and the
worldwide demand for and supply of minerals, risks related to
increased competition and current global financial conditions,
access and supply risks, reliance on key personnel, operational
risks, regulatory risks, including risks relating to the
acquisition of the necessary licenses and permits, financing,
capitalization and liquidity risks, title and environmental risks
and risks relating to health pandemics and the outbreak of
communicable diseases, such as the current outbreak of the novel
coronavirus, COVID-19.
Further, these forward-looking statements reflect
management's current views and are based on certain expectations,
estimates and assumptions which may prove to be incorrect. A number
of risks and uncertainties could cause the Company's actual results
to differ materially from those expressed or implied by the
forward-looking statements, including: (1) a downturn in general
economic conditions in North
America and internationally, (2) the inherent uncertainties
and speculative nature associated with mineral exploration, (3) a
decreased demand for precious metals, (4) any number of events or
causes which may delay exploration and development of the property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labour problems, (5) the risk that
the Company does not execute its business plan, (6) inability to
finance operations and growth, (7) inability to obtain all
necessary permitting and financing, and (8) other factors beyond
the Company's control. These forward-looking statements are made as
of the date of this news release and Millennial does not assume an
obligation to update these forward looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements, except in accordance with applicable
securities laws.
Neither the TSX Venture
Exchange nor its Regulation Services
Provider, as that term is defined in the policies
of the TSX Venture Exchange, accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Millennial Precious Metals Corp.