News out !!
Midway spots three m with 109.61 g/t gold at Midway
Midway Gold Corp (TSX-V:MDW)
Shares Issued 26,302,450
Last Close 1/16/2006 $2.55
Tuesday January 17 2006 - News Release
Mr. Alan Branham reports
MIDWAY HITS 12 METRES 28.26 GRAMS/TON GOLD-MIDWAY PROJECT NEVADA
Midway Gold Corp. has had continued success in the Dauntless gold discovery on the Midway project near Tonopah, Nev. 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 MW409, 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 hangingwall.
Hole No. Target Width Gold
(m) (g/t)
MW411 Dauntless 12.2 28.257
incl Dauntless 3.0 109.61
Dauntless 7.6 1.54
MW412 Dauntless 29.0 0.79
incl Dauntless 1.5 4.94
MW413 Dauntless 6.1 0.32
Dauntless 3.0 0.67
All drilling was reverse circulation drilling conducted by Layne Christensen of Chandler, Ariz. In zones of obvious veining and intense silicification 1,000-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, Nev. All sampling was conducted through independent contractors hired by Midway Gold Corp. Hole MW411 was entirely 30-gram fire assays and will be reassayed with 1,000-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.
This release has been reviewed and approved by company president and chief executive officer Alan Branham, PGeol, a qualified person as that term is defined in National Instrument 43-101.
© 2006 Canjex Publishing Ltd. |
