TORONTO, Oct. 23, 2012 /CNW/ - MillenMin Ventures Inc. (TSX-V: MVM) ( " MillenMin " or the "Company") is pleased to announce that it has completed a 910 meter diamond drilling program at its Windpass gold property (the "Property") situated 10 Km east of Little Fort in Central British Columbia, Canada.
The drilling program consisted of 4 diamond drillholes designed to test the geophysical (magnetic and electro-magnetic) anomalies identified by earlier survey work. The Windpass 2009 exploration program completed by Nevada Clean Magnesium Inc ("Nevada CMI") (TSX-V: NVM), discovered several zones of gold mineralization to the north, and the southeast of the Windpass Mine (abandoned) and to depth on the Property. This drilling program was outlined in Phase I work program recommended by Norm Tribe, P. Eng., in his April 2012- NI43-101 report entitled "Windpass Gold Property Evaluation Report".
The locations of the drill holes are defined by the "Local Grid" as laid out by the geophysical survey team. The first hole (Wp12-4) was drilled on Section 5+50 W, at 410 meters south, with a dip of -60 degrees and an azimuth of 180 degrees, to a depth of 201 meters (660 feet). The second hole (Wp12-5) is on Section 7+00W, 500 meters south, dipping at -60 degrees south, with an azimuth of 180 degrees, to a depth of 265 meters (870 feet). The third hole (Wp12-2) was drilled on Section 6+00W, 152 meters south, dipping at -60 degrees south, with an azimuth of 180 degrees, to a depth of 262 meters (860 feet). The fourth hole (Wp12-7) was drilled on Section 8+00W, at 70 meters south, dipping at -60 degrees south, with an azimuth of 180 degrees, to a depth of 182meters (597 feet). The first hole intercepted 13 sections of moderate to intense propylitic alteration, with sericite and quartz carbonate veinlets or with sericite disseminated sulphides, at a depth of 5 meters to 200 meters (15-655 feet). The second hole intersected numerous sections of moderate to intense propylitic alteration with silicification and pyritization from 79 meters to 85 meters (260- 280 feet) and between 133 meters and 265 meters (435- 870 feet). The pyritized sections contained up to 5% pyrite in a width of 35 meters at a depth of 133 meters to 168 meters (435- 550 feet). Pyrrhotite, chalcopyrite, magnetite, calcite and chlorite are visible in these altered sections. The third hole intercepted more sulphides of up to 10% in a more continuous interval of the intense propylitization from143 meters to 262 meters (470-860 feet). No mineralization of interest was observed in the fourth hole. A total of 209 core samples were split and sent to ALS Minerals in North Vancouver for assaying. Assay results are currently pending and will be released as they become available.
The drilling program was supervised by Norm Tribe, P. Eng., a consultant to MillenMin and the qualified person as defined by NI 43-101. Mr. Tribe also reviewed the technical information in this news.
MillenMin is a Canadian company engaged in the acquisition, exploration and development of mineral properties in Canada and intends to deliver value through exploration activities. The Company is currently exploring its Windpass gold property situated at Central British Columbia, Canada. Pursuant to the option agreement dated March 7, 2012 with Nevada CMI, MillenMin has been granted the exclusive right and option to acquire an undivided 70% interest in the Property by paying an aggregate of $120,000 to Nevada CMI, incurring $750,000 aggregate exploration expenditures on the Property and issuing an aggregate of 400,000 common shares in the capital of MillenMin to Nevada CMI over a period of four years.
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SOURCE: MillenMin Ventures Inc.
For further information:
Yunkai (Kent) Cai, President, Secretary and Director, Telephone: (416) 366-1888, [email protected].