Millennial Potash intersects 220m of potash mineralization at Banio Project

Millennial Potash (TSX-V:MLP) announced significant drill results from its Banio Potash Project in Gabon, with drillhole BA-001-EXT intersecting 112.5 meters of cumulative carnallitite seams averaging 15.9% KCl, a finding over 50% thicker than previous holes. This robust mineralization, which was not included in the company's January 2024 resource estimate, extends the known strike length to approximately 4 kilometers and is expected to substantially boost the project's potash resources, prompting a future updated Mineral Resource Estimate.

Analysis

Millennial Potash Corp. (TSX-V:MLP) has reported highly positive drill results from its Banio Potash Project in Gabon, significantly de-risking and expanding the project's potential. The key finding from drillhole BA-001-EXT is an intersection of 112.5 metres of cumulative carnallitite seams averaging 15.9% KCl, a thickness over 50% greater than the approximately 70-meter cumulative zones identified in adjacent holes during 2024. Crucially, these results were not incorporated into the January 2024 Mineral Resource Estimate (MRE), which already delineated a substantial Indicated resource of 657 million tonnes at 15.9% KCl and an Inferred resource of 1.159 billion tonnes at 16% KCl. The consistency in grade combined with a material increase in thickness suggests a strong probability of a significant upward revision to the resource base. The successful correlation of mineralization cycles across multiple drillholes confirms strong geological continuity and extends the known strike length to 4 kilometers, with pending results from hole BA-004 potentially doubling this to 8 kilometers. Management has explicitly stated these outcomes exceeded expectations and confirmed an updated MRE is planned, signaling a clear catalyst for value accretion as the company also begins collecting data for future feasibility studies.

Key Decisions for Investors

• Investors should anticipate a significant near-term catalyst in the form of an updated Mineral Resource Estimate, which is expected to incorporate these materially positive drill results and potentially lead to a substantial re-rating of the project's scale.
• The pending assay results from drillhole BA-004 represent a key data point to monitor, as they could double the known mineralized strike length to 8 kilometers, further magnifying the project's exploration upside.
• Given the collection of samples for geotechnical and dissolution test work, long-term investors should assess the project's progression towards a pre-feasibility or feasibility study, as this represents the next major de-risking milestone beyond resource definition.