Millennial Potash Reports Significant Increase In Resource Estimates: Measured + Indicated Resource is up by 275% and Inferred Resource is increased by 210% at its Flagship Banio Potash Project: Measured + Indicated Mineral Resources of 2.45 Billion Tonne
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On November 17, 2025, Millennial Potash announced an updated Mineral Resource Estimate (MRE) for its Banio Potash Project in Gabon. The update, effective November 11, 2025, shows a significant increase in resources, including a maiden Measured Mineral Resource of 648 million tonnes at 15.72% KCl.
Key highlights of the new MRE include: - Total Measured + Indicated (M+I) Resources: 2.45 billion tonnes. This represents a 275% increase compared to the previous MRE from January 2024. - Total Inferred Resources: 3.56 billion tonnes. This represents a 210% increase. - The Chairman, Farhad Abasov, stated that the results "exceeded all our expectations" and mark a major milestone. - The company notes this significantly larger resource base supports the upcoming Feasibility Study, which is being funded with US$3 million from the U.S. International Development Finance Corp. (DFC).
This updated Mineral Resource Estimate is a game-changing development for Millennial Potash. The news is not merely an incremental improvement but a fundamental de-risking event that transforms the Banio project's scale and investment profile.
- Exceeds Expectations: The company's Phase 2 drill program, with results announced on September 16 and October 14, 2025, consistently returned thick, high-grade potash intercepts and hinted at a significant resource expansion. However, the final numbers in this MRE, particularly the establishment of a large maiden Measured resource of 648 million tonnes, surpass what could have been reasonably anticipated. Moving a significant portion of the resource into the highest confidence category is a critical step towards demonstrating economic viability.
- Validation of Exploration Strategy: The results validate the company's geological model and demonstrate the continuity and consistency of the potash mineralization. This success provides a solid foundation for the upcoming Feasibility Study (FS).
- Alignment with Strategic Funding: This MRE provides the necessary resource base to justify the Feasibility Study. The timing is critical, as it follows the November 10 announcement confirming US DFC funding for the FS and the designation of potash as a U.S. critical mineral. The DFC's involvement is a major third-party validation, and this robust MRE provides the technical justification for that support.
- Comparison to Previous MRE: The previous resource (Jan 2024) consisted of 657 million tonnes Indicated and 1.16 billion tonnes Inferred. The new MRE not only upgrades confidence with a large Measured component but also increases the total M+I tonnage by 275% and Inferred tonnage by 210%. This quantum leap in size firmly positions Banio as a globally significant potash deposit.
From a critical standpoint, while the resource numbers are impressive, it is crucial to remember that "mineral resources that are not mineral reserves do not have demonstrated economic viability." The project's success now hinges entirely on the outcomes of the Feasibility Study, which will determine the economic extractability of this massive resource.
Millennial Potash Corp. is a Canadian exploration and development company focused on its flagship Banio Potash Project in Gabon, West Africa. The project is located on the Atlantic coast, giving it a potential logistical advantage for shipping to key agricultural markets like the U.S., Brazil, and within Africa. The company has rapidly advanced the project through exploration, culminating in the recent world-class mineral resource estimate. It is now transitioning to the development stage with a Feasibility Study.