Can you introduce Millennial Precious Metals and the company’s portfolio in Nevada?

Millennial Precious Metals is an exploration and development company focused on developing near-surface, heap leachable gold and silver ounces in Nevada and Arizona, two of the top mining jurisdictions in the world. Between myself, Ruben Padilla and Terry Harbort, we have discovered over 59 million oz Au across seven projects, five of which are currently in construction or production. This speaks to the quality of the assets that we discovered. Millennial has a well diversified portfolio of assets, the flagship projects being Mountain View and Wildcat, which are at the development stage and hold a combined 1.2 million ounces of oxide gold. 

Millennial also has an exciting drillbit story on the Battle Mountain Eureka Trend called Red Canyon, located 35 km south of Barrick’s Cortez complex, where the first phase of drilling was completed in 2021. Drill results from the first phase include widths of 54 m to 22 m, with grades ranging from 0.5 g/t to 4.5 g/t oxide Au. It is important to note that the average grade in the Great Basin is significantly lower, about 0.38 g/t Au, which is why Red Canyon is receiving significant attention in the market. Millennial also has four grassroots development stage assets that provide the company with a solid organic growth pipeline. In August 2021 Millennial acquired an option on a high-grade silver asset located in Arizona called Cerro Colorado.

Millennial went public in H1 of 2021. How has the company been received in the market?

The gold equity market was slightly stronger when we went public in May 2021. Since going public, we initiated an aggressive drill program, and have since significantly de-risked our key assets. A key value proposition that Millennial presents to its shareholders is that we have the highest effective grade (gold grade divided by strip ratio) open pit oxide development gold project in Nevada. From a valuation perspective Millennial currently trades at ~US$35/oz Au compared to our peer group in Nevada which trade closer to US$50/oz Au.

What are some of your ongoing exploration campaigns and what have the results shown so far?

In 2021 - 2022, we will carry out a phased 15,000 - 20,000 m drill program across our three key assets, Mountain View, Wildcat and Red Canyon. We began our exploration campaign by drilling ~2,300m at Red Canyon, which is a Carlin-style, sediment-hosted gold project, presenting some of the most significant intercepts in Nevada. Currently, we are drilling over 7,000 m at Mountain View, with our first drill holes returning 20 m at 2.3 g/t oxide Au and 128 m of 1.73 g/t oxide Au and 275 m of ~0.5 g/t oxide Au. The evidence we are collecting from the ongoing drill program indicates that the core holes are yielding significantly higher grade than what was predicted in the block model, which is a potential game changer for the project. At Wildcat, we plan to drill over 4,000 m beginning in Q1 2022. Wildcat is a large low sulphidation epithermal system which we are developing a geologic model for in order to better understand its size and depth. 

With the current metal prices, how do you see the appetite for exploration in Nevada?

Companies in Nevada tend to focus on the main trends, such as Battle Mountain - Eureka, or the Carlin. Most exploration models are based on drilling through the upper plate which typically presents alternation signatures with the hopes of intersecting a mineralized lower plate. This is not a financially feasible model for juniors. We see an opportunity in exploration off the main trends into the basins within the epithermal belts, which is where new discoveries will likely occur in the upcoming years. 

What should we expect from Millennial over the next few months?

The next 12 - 18 months for us will be centered around our aggressive drilling program, which will feed an updated resource at Wildcat and Mountain View in H1 2022. The updated resource will support the joint PEA for Wildcat and Mountain View which we expect to publish in H2 2022.