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Millennium achieves 100,000-ounce-per-year gold production target at Nullagine

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Millennium achieves 100,000-ounce-per-year gold production target at Nullagine

Millennium Minerals Ltd. achieved its production target of 100,000 ounces per annum for its Nullagine gold project in the Pilbara region of Western Australia.

The company said Sept. 10 that it expected to achieve this annualized run rate in the December quarter; however, strong production performance over the past two weeks allowed it to reach the goal ahead of schedule.

Millennium is on track to achieve its forecast production guidance of 20,000 to 22,000 ounces in the September quarter and 25,000 ounces in the December quarter.

CEO Peter Cash said the company is also planning to increase mine life beyond five years. "Recent exploration success increased mine life to more than three years, with plenty of high-quality exploration targets yet to be tested."

In August, Millennium identified a major new greenfields exploration target near Nullagine.