# Millennial Potash Reports Significant Increase In Resource Estimates: Measured + Indicated Resource is up by 275% and Inferred Resource is increased by 210% at its Flagship Banio Potash Project: Measured + Indicated Mineral Resources of 2.45 Billion Tonnes at 15.6% KCl and Inferred Mineral Resources of 3.56 Billion Tonnes at 15.6% KCl Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753 Original source: https://money.tmx.com/en/quote/MLP/news/5681321423672079/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in Publisher: tmx Original announcement: 2025-11-17T05:01:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Millennial Potash Corp. - Ticker: MLP - Exchange: TSX - Region: Gabon - Primary commodity: Potash - Secondary commodities: Potassium chloride - Document categories: Resource update - Extracted: 2026-09-16 11:05:09 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Millennial Potash Corp. announced a significantly updated Mineral Resource Estimate for its Banio Potash Project in Gabon, reporting a 275% increase in Measured and Indicated resources to 2.45 billion tonnes at 15.6% KCl, and a 210% increase in Inferred resources to 3.56 billion tonnes at 15.6% KCl. This update includes a maiden Measured resource of 648 million tonnes at 15.7% KCl, establishing a solid base for a Feasibility Study. The estimate, prepared by ERCOSPLAN and compliant with NI 43-101, highlights the project's immense potential, with high-grade sylvinite seams and significant room for expansion as it covers only a fraction of the total project area. Reasoning: The updated Mineral Resource Estimate demonstrates a substantial increase in both Measured and Indicated and Inferred resources, including a maiden Measured resource, significantly de-risking the project and providing a strong foundation for future development and a Feasibility Study. - Positive factor: Significant increase in Measured and Indicated resources \(275%\) and Inferred resources \(210%\) - Positive factor: Establishment of a maiden Measured resource \(648 Mt\) - Positive factor: Identification of higher-grade sylvinite seams - Positive factor: Resource covers only 5% of the project area, indicating significant upside potential - Positive factor: MRE provides a solid base for a Feasibility Study, supported by non-dilutive funding - Positive factor: NI 43-101 compliant estimate reviewed and approved by Qualified Persons - Negative factor: A significant portion of the total resource remains in the Inferred category - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade, which can complicate direct comparison - Negative factor: Sylvinite resources are only in Indicated and Inferred categories, with noted uncertainty in extent Facts used in scoring: 8 ## Classification and evidence **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The updated MRE includes a maiden Measured resource of 648.19 Mt at 15.72% KCl, representing the highest confidence category. Evidence · table > MEASURED Context: 648.19 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The MRE reports 1,804.54 Mt at 15.56% KCl in the Indicated category, demonstrating reasonable geological confidence. Evidence · table > INDICATED Context: 1804.54 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The MRE includes 3,559.49 Mt at 15.61% KCl in the Inferred category, which is a speculative category with limited drilling. Evidence · table > INFERRED Context: 3,559.49 **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The company reported a maiden Measured Resource of 648 Mt, indicating an upgrade in resource confidence from previous estimates which had no Measured category. Evidence · text > Last year we had no Measured Resource, whereas now we have 648M tonnes of maiden Measured Resource. **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The total Measured and Indicated Resource increased by 275% and the Inferred Resource increased by 210% compared to the prior estimate. Evidence · text > Measured + Indicated Resource is up by 275% and Inferred Resource is increased by 210% **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The contained KCl in the Measured and Indicated category increased from approximately 102.06 MT to 382.73 MT, and in the Inferred category from 179.17 MT to 555.43 MT, reflecting significant growth. Evidence · text > Measured + Indicated Resource is up by 275% and Inferred Resource is increased by 210% **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The information in the news release has been reviewed and approved by Sebastiaan van der Klauw, EurGeol, of ERCOSPLAN and Peter J. MacLean, Ph.D., P. Geo, Director of the Company, both Qualified Persons. Evidence · text > The information in this news release has been reviewed and approved by Sebastiaan van der Klauw, EurGeol, of ERCOSPLAN and Peter J. MacLean, Ph.D., P. Geo, Director of the Company, and both are Qualified Persons as that term is defined in National Instrument 43-101. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is stated to be NI 43-101 compliant, indicating adherence to Canadian reporting standards. Evidence · text > The Company is required to file an NI 43-101 compliant technical report on SEDAR within 45 days of the initial disclosure of the MRE made herein. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The release explicitly states the establishment of a 'maiden Measured Resource' of 648M tonnes. Evidence · text > Last year we had no Measured Resource, whereas now we have 648M tonnes of maiden Measured Resource. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces the results of an 'updated Mineral Resource Estimate' for the project. Evidence · text > is pleased to announce the results of an updated Mineral Resource Estimate \("MRE"\) **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: The document describes cut-off parameters based on seam thickness and mineralogy \(e.g., Carnallite content > 47% \(~12.5% KCl\), Sylvite content > 16%\) but does not provide a single overall cut-off grade in % KCl for the resource estimate. Evidence · text > Carnallitite: seam thickness has to be > 2.5 m when single, and > 1.25 m when other seams are present within 5 m vertical distance, and Carnallite content > 47 % \(~ 12.5% KCl\). Sylvinite: seam thickness has to be > 2 m and the Sylvite content > 16 %. ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-0) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:d5538051892264b95ef1 - Deposit or zone: Carnallitite - Mining method: combined #### Resource Data - Category: measured - Tonnes: 648190000 - Grade: 15.72 - Grade Unit: % KCl - Contained Metal: 101.89 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 - Prior Tonnes: 0 - Prior Contained Metal: 0 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The establishment of a maiden Measured resource represents a significant de-risking event and provides a high-confidence base for future studies. - Positive factor: Maiden Measured resource established, significantly de-risking the project - Positive factor: High confidence category for future economic studies - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 15.72 Context: 648.19 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-1) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:24ebaf348b8f81f2e06a - Deposit or zone: Carnallitite - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1769390000 - Grade: 15.39 - Grade Unit: % KCl - Contained Metal: 272.31 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The large Indicated Carnallitite resource demonstrates good geological confidence and forms a substantial part of the overall resource increase. - Positive factor: Significant tonnage in the Indicated category, providing a strong base for economic studies - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 15.39 Context: 1,769.39 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-2) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:c53524db66723f1dc7c6 - Deposit or zone: Sylvinite - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 35150000 - Grade: 24.26 - Grade Unit: % KCl - Contained Metal: 8.53 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The inclusion of higher-grade sylvinite in the Indicated category enhances the overall project economics, despite some geological uncertainty. - Positive factor: Higher-grade sylvinite resource adds value and potential to the project - Negative factor: Sylvinite extent has noted uncertainty due to its secondary and structurally controlled nature - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 24.26 Context: 35.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-3) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:7fef31756d352afba7d3 - Deposit or zone: CT+SYL - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1804540000 - Grade: 15.56 - Grade Unit: % KCl - Contained Metal: 280.84 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The combined Indicated resource, including both carnallitite and sylvinite, represents a substantial and high-confidence portion of the updated MRE. - Positive factor: Overall Indicated resource shows significant growth and provides a strong base for economic studies - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 15.56 Context: 1,804.54 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-4) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:276c7fe0c6dd4234e38f - Deposit or zone: CT+SYL - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 2452730000 - Grade: 15.61 - Grade Unit: % KCl - Contained Metal: 382.73 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 - Prior Tonnes: 654060000 - Prior Grade: 15.6 - Prior Contained Metal: 102.06 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The substantial 275% increase in the Measured and Indicated resource category is highly material, indicating strong project growth and confidence for future development. - Positive factor: Overall Measured and Indicated resource increased by 275%, representing a major milestone and significant de-risking - Positive factor: Provides a strong foundation for future economic studies and development - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > ~ 275% Context: 2,452.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 2452730000 against 654060000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 382.73 against 102.06 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-5) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:c3ef8572480bb0caf269 - Deposit or zone: Carnallitite - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3463340000 - Grade: 15.37 - Grade Unit: % KCl - Contained Metal: 532.2 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The large Inferred Carnallitite resource highlights the project's extensive potential, though it requires further drilling to upgrade confidence. - Positive factor: Significant increase in Inferred Carnallitite resource, indicating substantial future potential - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 15.37 Context: 3,463.34 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-6) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:c3f09439cb9cd8d47a6a - Deposit or zone: Sylvinite - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 96150000 - Grade: 24.16 - Grade Unit: % KCl - Contained Metal: 23.23 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The Inferred Sylvinite resource, while higher grade, is speculative and requires further work to establish confidence and extent. - Positive factor: Higher-grade sylvinite resource adds potential value to the project - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Sylvinite extent has noted uncertainty due to its secondary and structurally controlled nature - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > 24.16 Context: 96.15 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/millennial-potash-reports-significant-increase-in-resource-estimates-measured-in--12632f6f-ede0-4491-9ed6-f8ed3c347753#fact-resource-facts-7) Banio Potash · potassium chloride #### Identity - Project: Banio Potash - Commodity: potassium chloride - Region: gabon - Reported Region: Gabon - Ticker: MLP #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sebastiaan van der Klauw, Peter J. MacLean - Resource group id: resource:1f4f279ac516f9d50cc1 - Deposit or zone: CT+SYL - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3559490000 - Grade: 15.61 - Grade Unit: % KCl - Contained Metal: 555.43 - Contained Unit: mt kcl #### Prior Estimate - Resource Date: 2025-11-11 - Prior Tonnes: 1148220000 - Prior Grade: 15.6 - Prior Contained Metal: 179.17 #### Lab - Laboratory: ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-17T00:00:00.000Z Reasoning: The substantial increase in the Inferred resource highlights the project's long-term potential, though it represents a lower confidence category requiring further exploration. - Positive factor: Overall Inferred resource increased by 210%, indicating significant potential for future growth - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Cut-off parameters are based on thickness and mineralogy rather than a single grade Evidence · table > ~ 210% Context: 3,559.49 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 3559490000 against 1148220000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 555.43 against 179.17 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.