Millennium Minerals strikes high-grade gold, starts hunt for conglomerate at Pilbara project

Millennium Minerals MOY strike gold conglomerate Pilbara project

Millennium Minerals (ASX: MOY) has struck more high-grade gold at its Nullagine gold project in Western Australia and has kicked-off exploration for conglomerate gold mineralisation.

The conglomerate-style gold is different to the company’s current targeted gold mineralisation which is shear-hosted and structurally controlled.

Drilling at the project’s Au81 West deposit has return gold intercepts grading up to 19.62 grams per tonne, with the discoveries located only 3km east of the company’s processing plant.

After numerous gold conglomerate discoveries in the Pilbara region, Millennium Minerals has begun investigating potential conglomerate-style gold across its Nullagine project.

“Given the growing view that recent gold-in-conglomerate discoveries in the Pilbara could be an indicator of broader potential for this style of mineralisation, we are now placing an increased emphasis targeting the conglomerate at Nullagine,” Millennium Minerals chief executive officer Peter Cash said.

“This will include drilling focussed, in part, where we have mined extensive quantities of shallow gold from conglomerate and other areas where we know gold mineralisation exists within conglomerate but it has not been fully tested or mined,” he added.

The company has already identified conglomerate at many areas within the project including the pit wall of the previously mined Gambols Hill deposit.

Millennium Minerals MOY conglomerate gold pit wall Pilbara project
Conglomerate in the pit wall at Gambols Hill.

Further investigation for conglomerate-style gold mineralisation will involve reviewing the company’s surface geochemical database, mapping, sampling and drilling at its Shearers, Otway and Gambols Hill deposits.

Western Australia’s Pilbara the site of modern gold rush

Western Australia’s Pilbara region has been the site of a modern gold rush in recent months, with several companies reporting multiple conglomerate discoveries.

The conglomerate gold identified in the region has been likened to Witwatersrand mineralisation in South Africa, which is renowned as the world’s largest gold deposit.

TSX-listed Novo Resources (TSX: NVO) and its joint venture partner Artemis Resources (ASX: ARV) triggered the frenzy with the Purdy’s Well discoveries.

De Grey Mining (ASX: DEG) has also reported several gold finds in the area with multiple other stocks announcing nugget discoveries and aggressive exploration campaigns.

Lorna has more than 10 years’ experience as a finance journalist and editor. She has written for an array of industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has covered a myriad of small and large cap ASX and dual-listed stocks.