Junior miner Millennial Potash Corp., West Vancouver, B.C., said it has closed a private placement for over $1 million with plans to use the proceeds to fund exploration and development activities at its Banio Potash Project in Gabon, in West Africa (GM April 14, p. 26), and for general working capital.
The company also reported that recent drilling has intersected two new high-grade seams of potash mineralization. It said the cumulative thickness has the potential to be amenable to solution mining.