Millennial Potash launches Phase 3 drill program at Banio potash project in Gabon

Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) has begun its Phase 3 drill program at the Banio potash project in Gabon, with the campaign aimed at expanding known mineralization to the south and west of the current resource area.

The program will consist of four potash-focused drill holes totaling approximately 4,000 metres. According to the company, the drilling is designed to test extensions of thick potash-bearing sequences identified in earlier campaigns, where some intervals exceeded 100 metres in thickness.

Millennial said its geological model indicates the drilling is moving deeper into the evaporite basin, where there is potential to intersect all ten known potash cycles with significant mineralized thicknesses.

Each drill hole is expected to reach a depth of about 1,000 metres. The company plans to complete the program in the fourth quarter of 2026.

The new drilling area is primarily located in savannah terrain south and west of previously drilled zones. Millennial said an existing road from the nearby town of Mayumba has been rehabilitated to improve access to the site.

The company noted that the road access reduces the need for barges and boat transportation for drilling equipment and supplies, which had been required in earlier phases of exploration.

Millennial chair Farhad Abasov said the Phase 3 program marks a key milestone for the Banio project as the company moves to test new areas of potential mineralization.

The current drill plan is designed to step out from existing results and assess the continuity of potash-bearing sequences to the south and west of previous drilling, he noted, with four drillholes designed to support potential resource expansion and “demonstrate the scale of the opportunity” at the project.

Abasov also highlighted that part of the program will be carried out on newly acquired ground under the Haute Banio exploration permit, noting its proximity to coastal infrastructure plans as an important strategic consideration.

He referenced the project’s existing mineral resource estimate, which outlines a measured resource of 648.2 million tonnes grading 15.7% KCl, an indicated resource of 1.8 billion tonnes grading 15.6% KCl, and an inferred resource of 3.56 billion tonnes grading 15.6% KCl. 

“An updated MRE will be undertaken upon completion of the drill program and will be incorporated into the company’s ongoing Definitive Feasibility Study (DFS) which remains on track for completion by the end of 2026,” Abasov said.

Millennial said it will provide updates as drilling progresses and as analytical results and geological interpretations become available.