Midlands Minerals Reports Two Significant Gold Structures 1.5 Km Southwest of Esaase Deposit on Sian-Ghana
January 08 2008 - 7:30AM
Marketwired Canada
Minerals Corporation ("Midlands" or the "Company") (TSX VENTURE:MEX) is pleased
to report results of the RC follow-up drill program on the Mpeyo Gold Zones
southwest of the Esaase deposit on the Sian property in Ghana.
- The Mpeyo Gold Zones are located 1.5 kilometres southwest of the Esaase
deposit on the Sian property
- There are two main parallel gold structures
- Each structure is over 500 meters in strike length
- Both structures are open at both north and south extremities
The discovery of the Mpeyo Gold Zones, together with the Hanging Wall (HW) zone
previously reported on the 13th of December 2007, confirms that the gold
district controlled by Midlands hosts several near surface gold zones with
significant potential for bulk- mining gold grades. This substantiates Midlands'
interpretation that additional resources could be found at several sites outside
the Esaase deposit. "Several large gold soil anomalies are yet to be drill
tested. The two largest anomalies are in the area surrounding the Mpeyo Gold
Zones, suggesting these areas have the potential to grow in importance", said
Kim Harris, President and Chief Executive Officer.
The Mpeyo target area is located 1.5 km southwest of the Esaase deposit. Mpeyo
is a soil anomalous area of 260 meters by 900 meters with values of 100 ppb Au
up to 1890 ppb Au. The soil anomaly coincides with an induced polarization (IP)
tested area of increased chargeability associated with high resistivity values.
The IP anomaly was detected by a time domain induced polarization/resistivity
(IP) survey performed over the Sian property in November 2006. The chargeability
anomalous zone extends to a minimum strike length of 2 kilometres long by 500
meters wide.
Please click here for map link
www.midlandsminerals.com/press_releases/images/Mpeyo_Gold_Zone_01_08.pdf.
A total of 4 fence RC drilling sections were drilled at a spacing of 200 meters
as part of the follow-up program to the scout drilling program conducted in May
2006 over the Mpeyo area. Positive results were obtained from RC holes 15, 16
and 17 in the area around Mpeyo (August 9th,2007 News Release). Results show
several parallel structures with two main higher grade parallel gold structures
(the Mpeyo East zone (MEZ) and Mpeyo West Zone (MWZ)) with continuity over 500
meters strike length for each structure.
The two Mpeyo zones are approximately 60 to 100 meters apart and were drill
intersected on 4 different sections spaced 200 meters from section 5600Nm to
section 5000Nm. There are several anomalous gold envelops, 10 meters in width,
hosting grade intervals above the cut-off grade of 0.5 g/t Au. The continuity of
each structure is over 500 meters strike length. This indicates excellent growth
potential. Both structures remain open at the north and south extremities. The
coinciding soil anomaly and geophysics IP chargeability indicate potential for a
lateral extension 450 meters towards the north and over 1 kilometre toward the
south. Still to be drill tested is a second soil anomaly located 600 meters west
of Mpeyo on the adjacent Kwahu Praso property with gold values from 100 ppb Au
up to 570 ppb Au with dimensions of 260 meters by 870 meters.
The following is a summary of intersections. Grade gold zones (cut off of 0.5
g/t Au) and anomalous gold zones (cut off of 0.1 g/t Au).
Mpeyo East Zone
-------------------------------------------------------------------
Section Hole ID g/t Au Interval (m) From (m) To (m) Remarks
-------------------------------------------------------------------
5600N RC035 1.06 29.0 0 29 Anomalous Zone
-------------------------------------------------------------------
2.95 8.0 0 8 Grade zone
-------------------------------------------------------------------
5400N RC040 0.59 25.0 12 37 Anomalous zone
-------------------------------------------------------------------
0.59 7.0 12 19 Grade Zone
-------------------------------------------------------------------
1.48 5.0 27 32 Grade Zone
-------------------------------------------------------------------
5200N RC043 0.57 16.0 35 51 Anomalous Zone
-------------------------------------------------------------------
1.43 4.0 42 46 Grade Zone
-------------------------------------------------------------------
Note: All RC drill intercept widths are apparent widths.
Mpeyo West Zone
-------------------------------------------------------------------
Section Hole ID g/t Au Interval (m) From (m) To (m) Remarks
-------------------------------------------------------------------
5400N RC042 0.29 29 19 48 Anomalous Zone
-------------------------------------------------------------------
1.48 2 34 36 Grade Zone
-------------------------------------------------------------------
0.54 2 46 47 Grade Zone
-------------------------------------------------------------------
1.59 2 57 59 Grade Zone
-------------------------------------------------------------------
5400N RC040 0.49 5 101 106 Anomalous zone
-------------------------------------------------------------------
5400N RC015 0.69 10 34 44 Anomalous zone
-------------------------------------------------------------------
1.20 4.0 36 40 Grade zone
-------------------------------------------------------------------
5200N RC044 0.29 5 33 38 Anomalous Zone
-------------------------------------------------------------------
0.15 25 50 75 Anomalous Zone
-------------------------------------------------------------------
0.13 13 89 102 Anomalous Zone
-------------------------------------------------------------------
5000N RC046 0.56 13 24 37 Anomalous Zone
-------------------------------------------------------------------
0.86 6 27 33 Grade Zone
-------------------------------------------------------------------
0.27 40 42 82 Anomalous Zone
-------------------------------------------------------------------
1.52 2 45 47 Grade Zone
-------------------------------------------------------------------
-------------------------------------------------------------------
5000N RC017 0.42 13 15 28 Anomalous Zone
-------------------------------------------------------------------
1.26 3 22 25 Grade Zone
-------------------------------------------------------------------
0.42 11 50 61 AnomalousZone
-------------------------------------------------------------------
0.93 4 52 56 Grade Zone
-------------------------------------------------------------------
Note: All RC drill intercept widths are apparent widths.
RC Samples were taken at 1 meter intervals under dry drilling conditions by RSG
Global, Inc. ("RSG") utilizing drilling and sampling techniques widely accepted
in RC drilling programs. RSG are international geological consultants operating
in Ghana, South Africa and Australia.
Grade zone intercepts shown above were calculated using a minimum of a 0.5 g/t
cut-off at the beginning and end of the intercept and allowing for no more than
3 consecutive samples (three meters) of less than 0.5 g/t Au. while anomalous
zones are calculated using a cut-off grade of 0.1 g/t Au. All samples were
weighed on site and sent to the SGS Laboratory in Tarkwa, Ghana, where they were
assayed using standard 50 gram fire assay with atomic absorption finish. QA/QC
programs were in place using blanks and external standard samples.
Sian is a fully permitted past open pit gold producer located on the Ashanti
Gold belt, 30 kilometres northeast of Newmont Mining's 8+ million ounce Akyem
gold deposit. The Sian gold mineralization type is a silica-carbonate alteration
with disseminated pyrite similar to that found at Newmont's Akyem gold deposit.
Sian produced gold between 2001 and 2004 with a mineral recovery of 91%.
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.
Midlands Minerals is one of 30 companies covered in the Haywood Securities
Junior Exploration Index. The Haywood Junior Explorer Index ("HJEI") tracks the
performance of the group of junior exploration companies relative to the market.
The HJEI is a bi- monthly publication by Haywood Securities Inc. Midlands
Minerals Corporation is also covered by e-Research and Objective Capital Limited
(UK) and all research reports and updates are available on the Company's Web
Site at www.midlandsminerals.com.
The scientific and technical information contained in this press release has
been reviewed by Marc Boisvert, P.Eng., 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.
Forward-looking statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or intentions
regarding the future. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do occur,
what benefits the Company will obtain from them. These forward-looking
statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect.
The Company adds a cautionary statement to the effect that the potential
quantity and grades referred to in this press release are conceptual in nature
and there has been insufficient exploration to define a mineral resource.
Further, the Company is uncertain if further exploration will result in
discovery of a mineral resource. 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.
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