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Millennial Potash Intersects Significant Potash in BA-001-EXT at its Banio Potash Project in Gabon
Newsfile· 2025-05-06 12:00
Core Viewpoint - Millennial Potash Corp. has successfully extended drillhole BA-001-EXT at its Banio Potash Project in Gabon, intersecting significant potash resources, which may enhance the project's overall mineral resource estimate and feasibility study [1][2]. Group 1: Drillhole Results - Drillhole BA-001-EXT was extended to approximately 678m, intersecting numerous carnallitite seams within about 290m of interbedded carnallitite and halite from 364m to 657m [1][2]. - The extension of BA-001-EXT exceeded expectations with over 250m of interbedded carnallitite and halite identified [2]. Group 2: Future Plans - Following the completion of BA-001-EXT, the drill rig will move 3.7km east to drillhole BA-004, aimed at evaluating the lateral extent of potash horizons in an untested area [6]. - The Phase 2 drill program is expected to be completed in Q2 2025, followed by a revised Mineral Resource Estimate [8]. Group 3: Resource Estimates - The current Indicated Mineral Resource Estimate (MRE) stands at 657 million tonnes grading 15.9% KCl, while the Inferred MRE is at 1.159 billion tonnes grading 16% KCl [7]. - The identification of additional potash horizons may extend the known mineralization strike length to 8,000m and significantly increase project resources [7].
Brazil Potash Announces Agreement for up to $75 Million Equity Line of Credit From Alumni Capital
Globenewswire· 2025-05-06 10:45
Core Viewpoint - Brazil Potash Corp has entered into a definitive agreement for an equity line of credit with Alumni Capital LP, which is expected to provide flexible funding for the Autazes Potash Project, crucial for global food security [1][3]. Funding Agreement - The equity line of credit allows Brazil Potash to sell up to $75 million worth of common shares over a 24-month period, with the company controlling the timing and amount of sales [3]. - The agreement is structured to provide Brazil Potash with a flexible financing tool as it progresses with early construction activities for the Autazes Project [2][3]. Project Overview - The Autazes Project aims to supply sustainable fertilizers to Brazil, which is heavily reliant on potash imports, having imported over 95% of its potash fertilizer in 2021 [6]. - Brazil Potash plans to produce up to 2.4 million tons of potash annually, potentially meeting approximately 20% of Brazil's current potash demand [6]. - The project is positioned to reduce Brazil's reliance on imports and mitigate around 1.4 million tons of greenhouse gas emissions per year [6].
Millennial Potash Welcomes the Election of President Brice Oligui Nguema
Newsfile· 2025-04-15 12:00
Group 1 - Millennial Potash Corp. welcomes the election of President Brice Oligui Nguema, who secured 90.35% of the vote in a recent election with a voter turnout of 70.4% [1][2] - President Nguema has been instrumental in guiding Gabon through political and economic transformations since August 2023, focusing on stabilizing the nation and fostering economic growth [2][3] - The election of President Nguema marks a new era for Gabon, with a commitment to infrastructure improvements that align with Millennial Potash's goals for the Banio Potash Project [3][4] Group 2 - Millennial Potash looks forward to continued collaboration with the Gabonese government under President Nguema's leadership to achieve shared objectives and drive sustainable growth [4]
Millennial Potash Initiates Phase 2 Drilling Program at Its Banio Potash Project in Gabon
Newsfile· 2025-04-01 12:00
Core Viewpoint - Millennial Potash Corp. has initiated its Phase 2 drilling program at the Banio Potash Project in Gabon, aiming to enhance potash resources and prepare for a feasibility study [1][2]. Drilling Program Details - The Phase 2 program includes two potash-specific drill holes totaling approximately 1,100 meters, extending historic hole BA-001 by about 400 meters and drilling a new hole BA-004 to a planned depth of 700 meters [1][2]. - Hole BA-001 was previously drilled to a depth of 364 meters in 2017 and will now be extended to evaluate deeper potash horizons [2][3]. - Hole BA-004 is located approximately 4 kilometers east of BA-001 and is designed to assess the lateral extent of potash horizons in an untested area supported by seismic surveys [3]. Objectives and Expected Outcomes - The objectives of the Phase 2 program are to evaluate the presence of potash-rich horizons at depth and laterally, which may extend the known mineralization strike length to 8,000 meters [4]. - Current Indicated Mineral Resource Estimate (MRE) stands at 657 million tonnes grading 15.9% KCl, while Inferred MRE is at 1.159 billion tonnes grading 16% KCl [4]. - The drilling data may allow for upgrading some resources from Indicated to Measured status and potentially shift Inferred material to Indicated status [4]. Financial Position - Millennial Potash has recently closed a financing round of $4.9 million, ensuring adequate funding for the second drill program and a revised 43-101 resource estimate report [2][4]. Timeline - The Phase 2 drill program is expected to be completed in Q2 2025, followed by a revised Mineral Resource Estimate also planned for completion in Q2 2025 [5].