Midway Hits 12 Metres 28.26 Grams/Ton Gold-Midway Project Nevada
Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce continued success in the Dauntless gold discovery on the Midway project near Tonopah, Nevada. Results of three additional holes, completed in December, were received and continue to enlarge the Dauntless Discovery. This zone is composed of two or three parallel quartz-adularia veins hosted in Palmetto argillite. The intercepts listed below are drill widths, as the true thicknesses are unknown. MW411 was drilled to the northeast from the site MW 409 which intercepted 30.5 metres of 15.41 grams per tonne gold. This hole tested the footwall of the vein zone. The orientation of this new intercept is unclear, but could represent a third new vein zone in the footwall of the Dauntless fault. Previous intercepts were noted in the hanging wall.
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Drill
Width Gold Feet Feet Width Gold
Hole # feet opt start finish Target Metres g/t
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MW 411 40 0.824 from 220 260 Dauntless 12.2 m 28.257
includes 10 3.197 from 230 240 Dauntless 3.0 m 109.61
25 0.045 from 345 370 Dauntless 7.6 m 1.54
MW412 95 0.023 from 235 330 Dauntless 29.0 m 0.79
includes 5 0.144 from 290 295 Dauntless 1.5 m 4.94
MW413 20 0.010 from 250 270 Dauntless 6.1 m 0.32
10 0.020 from 300 310 Dauntless 3.0 m 0.67
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All drilling was reverse circulation drilling conducted by Layne Christensen of Chandler, Arizona. In zones of obvious veining and intense silicification 1000 gram metallic screen fire assays were conducted and the remainder of the hole was assayed by 30 gram fire assays by ALS- Chemex labs, in Sparks, Nevada. All sampling was conducted through independent contractors hired by Midway Gold Corporation. Hole MW 411 was entirely 30gram fire assays and will be re-assayed with 1000 gram metallic screen assays.
Midway is currently drilling the expansion of this new zone with two reverse circulation drills and plans to test at least two other similar targets during this drill phase.
The Midway gold property information can be viewed at midwaygold.com.
Details of Midway Gold's projects are available on the Company's website at www.midwaygold.com.
Midway Gold Corp. is a precious metals exploration company, listed as a Tier 1 issuer on the TSX Venture Exchange under the symbol "MDW". Midway focuses on the creation of value for shareholders by exploring and developing high-grade, quality precious metal resources in stable mining areas.
This release has been reviewed and approved by Company President and CEO Alan Branham (P.Geol.), a "qualified person" as that term is defined in National Instrument 43-101.
ON BEHALF OF THE BOARD
Alan Branham, President and CEO
SOURCE: Midway Gold Corp.
Midway Gold Corp.
Ron Cooper
(604) 986-0112 (Canada) or (877) 692-8288 (US Toll Free)
www.midwaygold.com
MDW:TSXV at 11:29AM ET on January 17, 2006 is: |
