Millennial Potash Intersects 101.45m Cumulative Potash Thickness of High-Grade Carnallitite Mineralization in Drillhole BA-004 at its Banio Potash Project in Gabon
None
On October 14, 2025, Millennial Potash announced assay results from drillhole BA-004, the final hole of its Phase II drill program at the Banio Potash Project in Gabon. This was a significant step-out hole, located approximately 3.7 km east of previous drilling.
Key results include: * A cumulative thickness of 101.45 meters of high-grade carnallitite mineralization. * The average grade across this thickness was 16.8% KCl, using a 13% KCl cut-off. * Without a cut-off, the hole intersected 164.46 meters of potash mineralization averaging 11.86% KCl. * The results confirmed the geological interpretation that the evaporite basin is flat-lying and continuous to the east, extending the potential strike length to 8 km. * The company stated that with all assays from the Phase II program now received, it intends to update its Mineral Resource Estimate (MRE) "soon".
This news is materially positive and represents the successful culmination of the company's Phase II drill program. The primary goal of drillhole BA-004 was to test the lateral continuity of the deposit with a large step-out, and the results have exceeded expectations.
- Geological De-risking: The results provide strong confirmation of the geological model. Intersecting over 100 meters of high-grade potash mineralization 3.7 km away from the nearest hole is a major success that demonstrates the impressive scale and consistency of the Banio deposit. This significantly increases confidence in the existing resource and its potential for expansion.
- Grade Confirmation: The average grade of 16.8% KCl is not only high but is also slightly better than the grade in the current MRE (15.9-16.0% KCl) and the results from the first Phase II hole, BA-001-EXT (15.9% KCl). This consistency and slight improvement are very encouraging for the project's future economics.
- Catalyst for MRE Update: This news is the final data-driven milestone required before the company can deliver an updated Mineral Resource Estimate. The results from both Phase II drill holes (BA-001-EXT and BA-004) are expected to lead to a significant conversion of Inferred resources to the higher-confidence Indicated category, which is a critical step for the forthcoming Feasibility Study.
- Alignment with Strategy: The company has methodically executed its plan announced in early 2025: complete a two-hole drill program to upgrade and expand the resource, then use that data to update the MRE and advance a Feasibility Study. This release confirms the successful execution of the drilling portion of that plan.
While the stock has had a significant run-up in anticipation of these results, the confirmation of grade and continuity over such a distance solidifies the project's world-class potential and provides a fundamental basis for the current valuation and future growth.
Millennial Potash Corp. is a Canadian mineral exploration company focused on advancing its flagship Banio Potash Project in Gabon, West Africa. The company acquired the option on the project in late 2022 and has since established a large maiden Mineral Resource Estimate (January 2024) and published a robust Preliminary Economic Assessment (PEA) in April 2024. The PEA outlined a potential low-cost ($61/tonne OPEX) solution mining operation with a post-tax NPV10 of US$1.07 billion. The project benefits from its location on the Atlantic coast, proximity to key markets like Brazil, and significant infrastructure development in the region.