Midlands Minerals Reports Significant Gold Mineralization in Follow Up RC Drilling at Sian, Ghana
July 31 2008 - 8:30AM
Marketwired Canada
Midlands Minerals Corporation ("Midlands" or the "Company")(TSX VENTURE:MEX) is
pleased to report the results of the additional 22 holes totaling 2,707 metres
of RC drilling completed in May 2008 have successfully extended the known
mineralization in each of the existing areas tested, and have identified a new
target west of the Esaase pit. More than 50% of the holes encountered
significant gold mineralization.
"Midlands is encouraged by these drill results which confirm both the postulated
extension of the mineralized structures and the anticipated parallel zones",
said Joe Hinzer, M.Sc., P.Geo., Chief Operating Officer.
The follow-up drill program was designed to assess targets identified as a
result of the recently completed NI 43-101 Resource Estimation undertaken by
Geostat Systems International Inc. ("Geostat") (see news release dated May 13,
2008). The Geostat Resource estimation showed the indicated resource increased
by 92% up from 100,000 ounces to 192,400 ounces (2,568,000 tonnes at 2.33 g/t
Au), and the inferred resource went up from 100,000 ounces to 203,350 ounces
(2,694,000 tonnes at 2.35 g/t Au), an increase of 103.4%.
Additionally, the gold mineralization encountered in RC holes 54, 55, 61, 63,
holes 66 and 68 and 71, is expected to add to the current inferred mineral
resource.
Esaase South area RC hole number 61, which cored 3 metres grading 5.41g/t has
extended the structure for more than 200 metres and the zone remains open to the
south. Hanging Wall zone RC holes number 54 and 71 encountered 2 metres grading
15.13g/t and 2 metres grading 11.22g/t respectively, extending the Hanging Wall
for more than 100 metres along strike. This drilling has also traced a parallel
zone located approximately 80 metres to the east of the Hanging wall zone, for
more than 600 metres along strike (see RC holes number 55, 65, 66, and 68 in the
table 1 below).
Mpeyo Zone 1 mineralization was also extended 100 metres further to the north
(see RC hole number 73). This zone remains open along strike in both directions.
RC hole number 75 which was testing a previously untested geochemical anomaly,
encountered a narrow mineralized vein assaying 4.84g/t over 1m. This anomaly
lies approximately 250 metres west of the pit and has a strike length in excess
of 500 metres.
The drilling targeted four specific areas: two sites contiguous to the Essase
pit, the Esaase South area (6 holes), and the South Extension and Hanging Wall
zones (11 holes), and two exploration targets, the Mpeyo 1 zone (2 holes) to the
southwest, and the previously untested geochemical anomaly immediately west of
the Essase pit (2 holes).
Please click on the link below to view the map
www.midlandsminerals.com/press_releases/images/Sian_Structure_07_08.pdf
TABLE 1 SUMMARY OF SIGNIFICANT ASSAY RESULTS
--------------------------------------------------------------
Hole No Core interval m Core length m Au g/t
--------------------------------------------------------------
Esaase South Area
--------------------------------------------------------------
MERC 0060 2-4 2 1.12
--------------------------------------------------------------
MERC 0061 14-17 3 5.41
--------------------------------------------------------------
35-36 1 1.31
--------------------------------------------------------------
MERC 0063 85-86 1 1.27
--------------------------------------------------------------
--------------------------------------------------------------
Hanging Wall and South Extension Area
--------------------------------------------------------------
MERC 0054 14-16 2 1.04
--------------------------------------------------------------
100-102 2 15.13
--------------------------------------------------------------
123-124 1 4.08
--------------------------------------------------------------
MERC 0071 6-9 3 2.21
--------------------------------------------------------------
18-20 2 0.57
--------------------------------------------------------------
47-49 2 11.22
--------------------------------------------------------------
93-94 1 1.80
--------------------------------------------------------------
MERC 0055 51-54 3 0.73
--------------------------------------------------------------
82-84 2 2.07
--------------------------------------------------------------
MERC 0056 75-76 1 3.78
--------------------------------------------------------------
87-89 2 0.77
--------------------------------------------------------------
MERC 0065 104-107 3 3.11
--------------------------------------------------------------
MERC 0066 22-26 4 1.97
--------------------------------------------------------------
31-33 2 1.35
--------------------------------------------------------------
MERC 0067 72-74 2 1.82
--------------------------------------------------------------
MERC 0068 32-34 2 0.87
--------------------------------------------------------------
Mpeyo 1 Zone
--------------------------------------------------------------
MERC 0073 7-9 2 0.56
--------------------------------------------------------------
15-16 1 1.18
--------------------------------------------------------------
56-57 1 2.98
--------------------------------------------------------------
98-99 1 3.91
--------------------------------------------------------------
West Geochem Target
--------------------------------------------------------------
MERC 0075 90-91 1 4.84
--------------------------------------------------------------
Please note: all assay intervals are metres of core length.
True width of the zones, have not been determined but are
estimated to be approximately 70% of true width.
Reverse Circulation (RC) drilling samples were taken at 1 metre intervals under
dry drilling conditions by RSG Global Consulting 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. RC Samples were collected via a cyclone at one metre intervals,
riffle split and taken for analysis. Field residues were retained in plastic
bags on site. Drill pad and access preparation was carried out by using Cat D6
bulldozer wherever possible. All RC holes were logged on site by an RSG
geologist using standard logging procedures and templates and representative
samples which were collected in chip trays are stored at the Esaase Mine base
camp in Ghana. QA/QC programs were in place using blanks and external standard
samples. The company inserted Standard reference material (5% of samples),
insertion of Blank material for each hole, and RC field duplicates taken (5% of
samples).
All samples were sent to the SGS Laboratory in Tarkwa, Ghana, where they were
assayed using standard 50 g fire assay with atomic absorption finish. SGS
laboratories comply with ISO/IEC 17025 accreditation in applying internal assay
quality control procedures.
Planned Work on Sian and Praso
Midlands is currently completing a compilation of all the available data for
both the Sian and Kwahu Praso projects. In addition to the planning of the
definition drilling at Sian, Midlands also intends to complete an airborne
magnetic and radiometric survey over the entire Sian / Praso property to help
prioritize the numerous soil geochemical targets for follow-up exploration and
drill testing.
The scientific and technical information contained in this press release has
been reviewed by Joe B. Hinzer, M.Sc, P.Geo, Chief Operating Officer, who is a
Qualified Person within the meaning of National Instrument 43-101.
ABOUT MIDLANDS MINERALS
Midlands is a growth oriented and value based gold exploration company operating
in Ghana and Tanzania, two stable low risk countries with a history of gold
mining. The Company mitigates potential risk to investors by operating in two
politically stable countries with well established mining laws, and by having
several high quality projects located near major gold deposits and on known
prolific gold producing belts.
The Company has a highly qualified management and technical team with extensive
experience in the countries in which the Company operates. The Company's
priority project is the fully permitted and past gold producer, Sian gold
project, located on the Ashanti Gold Belt in Ghana. For more information on the
Company, please visit Midlands' investor relations website at
www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com.
On behalf of the Board
Kim Harris, President and Chief Executive Officer
Midlands Minerals is one of 40 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).
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. For more information, investors should review the Company's
filings that are available at www.sedar.com.
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