|February 06, 2012|
Midlands Minerals Drills 27 Metres Grading 2.97 gpt Gold at Kaniago West
|Toronto, Ontario - February 6, 2012: Midlands Minerals Corp. ("Midlands" or the "Company") (TSX-V:MEX; OTCQX:MDLXF) announces new drill results from its Kaniago West target on its Kaniago gold project in Ghana. The Kaniago project straddles the "Esaase-Kaniago West Shear Zone" which also hosts Keegan Resources' Esaase gold deposit (4.9M oz) and PMI Gold Corporation's Abore gold deposit (560,000 oz). Significant new intercepts drilled at Kaniago West include:|
KNRC-11-041 27 metres grading 2.97 gpt gold (from 123 metres)
KNRC-11-044 16 metres grading 1.21 gpt gold (from 10 metres)
KNRC-11-048 33 metres grading 0.87 gpt gold (from 117 metres)
and 17 metres grading 1.83 gpt gold (from 171 metres)
KNRC-11-052 3 metres grading 6.80 gpt gold (from 57 metres)
During 2011, Midlands drilled 24 reverse circulation ("RC") drill holes for a total of 4,199 metres into the Kaniago West target. Results were released for the first ten holes (1,475 metres) in a press release dated June 16, 2011. The new results, from 14 holes (2,724 metres), indicate that the deposit is open to the north and south and down dip. Gold mineralization has been defined over a strike length of at least 430 metres and over a vertical range of 120 metres. These initial discovery and target definition drill holes have provided Midlands with a strong basis to continue drilling the Kaniago West deposit. The results emphasize the potential for a large shallow, potentially bulk-mineable gold deposit.
Midlands Minerals recently released a drill update from the Mmooho deposit on the Kaniago gold project (see press release dated February 2, 2012). The Company continues to drill at both of the Mmooho and Kaniago West deposits which are located 5.5 kilometres apart on strike. These deposits are both situated within the NE-SW-oriented "Esaase-Kaniago West Shear Zone" which currently hosts 5.46M oz of total gold resources on neighbouring companies' concessions. Numerous soil gold anomalies remain untested between the Mmooho and Kaniago West gold mineralized zones and will be the subject of ongoing exploration efforts.
Leapfrog modeling of the Kaniago West gold mineralized zone has facilitated a growing understanding of the geometry of the deposit. Mineralization is continuous and the grade distribution model defines two sub-parallel mineralized zones containing auriferous quartz veins. These zones intersect at an area of thickening with increasing grade at depth towards the southern end of the drill area. The mineralized zones are dipping shallowly at 25 degrees towards the west, and mineralization outcrops at the northern end of the drill area. The intersection of the two mineralized trends defines the start of a potential gold mineralized shoot which plunges at 5 degrees towards the north. This zone of thickening is open to the north, south and down dip in the plane of the mineralization.
Craig Pearman, President and CEO of Midlands commented: "It is encouraging that recent drilling has continued to expand the Kaniago West gold mineralized zone and that intercepts have increased in grade and width at depth. The recent discovery and growth at both Kaniago West and Mmooho confirms the Company's exploration methods and highlights the economic potential of the Kaniago West mineralized zone and the Kaniago gold project in general."
A summary of the 2011 drill results are provided in the table below and include the significant new intercepts.
Summary Table of Significant Intercepts at Kaniago West to date:
*denotes holes previously reported in June 16, 2011 press release. These intercepts have been slightly modified from the previous release due to the application of different lower cut and dilution parameters in their calculation.
1. All quoted intersections were drilled using reverse circulation.
2. All intercept widths are uncorrected due to the use of RC.
3. Drill results are for 1 metre interval riffle split RC samples and are quoted to 2 decimal places. Results are preliminary and are subject to additional QA-QC procedures.
4. Intercepts reported are all greater than 7 gram metres and are constrained with a 0.5 g/t lower cut-off grade, no high cut-off grade, and up to 3 metres (consecutive) of internal dilution (less than 0.5 g/t). Hole KNRC-11-41 had 4 metres of internal dilution. Any "included" intercepts were calculated using a lower cut-off 1 g/t.
5. Drilling was conducted towards magnetic azimuths of 135 degrees and scissor holes were drilled towards 315 degrees and at inclinations of 55 degrees.
6. Downhole surveys have only been performed on KNRC-11-01 to KNRC-11-053 using Reflex EZ-shot.
7. Internationally recognised standard reference materials, duplicate samples and blank samples were routinely inserted into the sample sequence on a 10% basis. Additional QAQC is underway and these are preliminary results.
8. Laboratory sample preparation comprised of drying and jaw crushing of a greater than 2kg RC sample, followed by pulverising of a riffle-split 2kg sub-sample. Samples from holes KNRC-11-001A to KNRC-11-010 were assayed at Intertek Laboratory at Tarkwa, Ghana and samples from holes KNRC-11-40 to KNRC-11-053 were assayed at SGS Laboratory in Tarkwa, Ghana using 50g Fire Assay with Atomic Absorption Spectrometry (AAS) finish.
Description: Kaniago location map1_01-31-2012.jpg
3-D oblique view of the Kaniago West deposit showing the 0.5, 0.7 and 1.0 gpt gold grade shells.
About Midlands Minerals:
Midlands Minerals is focused on developing a portfolio of high quality gold exploration projects in Ghana and Tanzania, countries with exceptional histories of gold production and home to some of the most profitable gold mines in Africa. Midland's flagship gold property is the Sian project, site of a past producing open pit gold mine located in the Ashanti gold belt. Sian has NI 43-101 compliant Indicated gold resources of 2.6 million tonnes grading 2.33 gpt gold (192,400 ounces) and Inferred gold resources of 2.7 million tonnes grading 2.35 gpt gold (203,350 ounces). Extensions to these resources are open along strike and at depth, highlighting the potential to grow the gold resource at Sian. Midlands' Kaniago gold project is located in Ghana's Asankrangwa gold belt and is contiguous to two past open pit gold producers: Abore to the north and Obotan to the south. Recent drilling and exploration has produced encouraging results, demonstrating the gold resource potential of the project.
Midlands also holds licences for gold and diamonds in two regions in Tanzania. The first is found in the Lake Victoria Goldfields region and includes its advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke Trend, which hosts over 40 million ounces in gold reserves. The second region lies within the Kilindi-Handeni Trend and includes the New Kilindi-Handeni prospecting licences.
Please note: mineral resources that are not mineral reserves do not have demonstrated economic viability. Craig Pearman, President and CEO of Midlands, is a "qualified person" as defined by National Instrument 43-101, and has reviewed and approved the technical information and data included in this press release. Additional information on Midlands can be viewed under the Company's profile at www.sedar.com or on Midlands' website: www.midlandsminerals.com.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
President and CEO
Telephone: +233 24 4323820
Telephone: +1 416 987 0855
Telephone: +1 530 414 4400
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the company's projects and other future plans, objectives or expectations of Midlands Minerals Corp. (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.
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