Midlands Minerals Intersects a 65 Metre Pyrite Zone Hosting Silica Alteration With 1.99 G/T Over 13 Meters on Sian-Ghana
Thursday May 17, 8:30 am ET
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TORONTO, ONTARIO--(CCNMatthews - May 17, 2007) - Midlands Minerals Corporation ("Midlands" or the "Company") (TSX VENTURE:MEX - News) today reported the second hole on Sian intersected a 65 meter disseminated pyrite envelop (from 135 m to 203 m). The center of the pyrite zone features silica alteration and a higher concentration of pyrite averaging 1.99 g/t Au over 13 meters, including 2.60 g/t Au over 4.1 meters at a vertical depth of 150 meters.
Hole MEDD-002 intersected the continuation of the silica alteration, 125 meters south of the a high grade gold zone indicated by MEDD-001 with 7 meters grading at 10.81 g/t, as reported on May 10th, 2007. The Sian property is 30 km northeast of Newmont Mining's Akyem deposit with over 8 million ounces of gold and is on trend with Akyem. The mineralization at Akyem is a silica carbonate alternation with disseminated pyrite.
"This is good news. The results from the first two holes indicate mineral alteration types with gold grades and widths that compare well with the Akyem deposit", said Marc Boisvert, P.Eng., Vice president Exploration.
Midlands' interpretation of the geometry of the Esaase deposit with an indicated mineral resource of 100,000 ounces (1.3 M tonnes @2.3 g/t Au) reported May 1st 2006, is that it consists of two high grade mineral shoots plunging southwest with lower grade material between the mineral rich shoots. Hole MEDD-002 confirms this continuity below 120 meter depth and indicates that lower grade material between the high grade mineral shoots is of such a quality that it provides potential for bulk mining.
The results from Hole MEDD-001 with intersections of 10.81 g/t over 7 meters including 24.3 g/t over 3 meters, confirm high grade content. Hole MEDD-002 with a 65 meter pyrite envelop averaging 0.6 g/t Au hosting an intersection of 1.99 g/t Au over 13 meters, confirms continuity as well as the potential for high tonnage.
"The good news is the results of the first 2 holes increase our confidence in the geological model developed from previous drill results near surface and these results demonstrate the potential for bulk and high tonnage mining at greater depth than planned by previous operators.", said Marc Boisvert P. Eng.
The diamond drilling program was designed to expand and increase the Sian indicated mineral resource of 100,000 ounces (1.3 M tonnes @2.3 g/t Au indicated) (PR May 1st 2006) by defining a high grade zone and confirming the continuity and grades on the Esaase pit.
"We continue to be very optimistic about the Sian property. The assays are encouraging and we look forward to increasing and expanding the resource on this property", said Kim Harris, President and CEO.
Core samples are generally taken at 1.0 meter intervals with exceptions varying from 0.3 to 1.3 meters due to particular rock types. Sampling is done utilizing a core saw to split core in two parts, sending one half to the laboratory and keeping the other half as witness core. All core drill samples are described and sampled at the property field core shack facilities. All samples were sent to SGS Laboratory in Tarkwa, Ghana where they are assayed using standard 50 gram fire assay with atomic absorption finish. QA/QC programs are in place using blanks and external standard samples.
Hole MEDD-002 was drilled to a depth of 242 meter in direction of 300º, at an angle of 90º with the deposit trend. The collar dip of the hole is -57º. The dip of the hole was planned to intersect at a specific vertical depth of 150 meters. The dip of the deposit is between 70 to 80 degrees. It is expected the calculated average gold intersections are less than 1.3 times the true width.
Intercepts in the table below were calculated using a minimum of a 0.5 g/t cut-off at the beginning and the end of the intercept and allows for no more than 3 consecutive samples (three meters) of less than 0.5 g/t Au. The following is a summary of the results from the second drill hole:
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From To Interval Au Average
Sample ID (m) (m) (m) g/t Au
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0422 170.00 171.00 1.00 0.86
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0423 171.00 172.00 1.00 2.32
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0424 172.00 173.00 1.00 1.3
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0426 173.00 174.00 1.00 1.6
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0427 174.00 175.00 1.00 1.8
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0428 175.00 176.27 1.27 3.63
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0429 176.27 176.66 0.39 1.43
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0430 176.66 177.00 0.34 1.33 1.99 g/t
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0431 177.00 178.00 1.00 0.41 13 m
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0432 178.00 178.34 0.34 1.07
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0433 178.34 179.00 0.66 3.17
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0434 179.00 180.00 1.00 0.82
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0435 180.00 181.00 1.00 1.85
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0436 181.00 182.00 1.00 3.97
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0437 182.00 182.44 0.44 4.42
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0438 182.44 183.00 0.56 1.6
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HOLE MEDD- 002
Together with the contiguous Praso property, Midlands controls 160 square kilometres of a prime gold exploration district delineated by a 16 kilometre corridor with large soil gold anomalies providing excellent potential for the discovery of several gold deposits on the property. 10,000 meters of drilling are in progress, using a diamond core drill on the Esaase open pit and an RC drill to drill the highly prospective extensions.
The scientific and technical information contained in this press release has been reviewed by Marc Boisvert, P.Eng., Midlands' Vice President - Exploration, who is a Qualified Person within the meaning of National Instrument 43-101.
Certain statements contained in this news release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward looking statements while considering the risks inherent in the business of mineral exploration.
The TSX-V has in no way passed upon the merits of this press release and has neither approved nor disapproved the contents of this press release.
Contact:
Kim Harris
Midlands Minerals Corporation
CEO
Direct Line: (416) 447-6882 or (416) 492-6992
(416) 492-6993 (FAX)
Email: info@midlandsminerals.com
Website: www.midlandsminerals.com
Source: Midlands Minerals Corporation |
