VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2014) - Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX VENTURE:MMA) announces the results for the recently completed core drilling program on the Solwezi copper property in northwest Zambia. The drill program was undertaken in April and May 2014 and consisted of 739 metres HQ core drilled in 12 holes.
Highlights of significant, near surface copper mineralization include the following:
- 5.71% copper over 14.2 metres, including 9.58% copper over 7.2 metres in drill hole SLZ-DD-14-010;
- 5.08% copper over 8.0 metres in drill hole SLZ-DD-14-005; and
- 6.27% copper over 4.5 metres in drill hole SLZ-DD-14-001.
| Note: The above reported lengths are intercept lengths and not estimated true widths |
The recent drill program targeted an area of the Solwezi property located approximately 10km southwest of the Kansanshi mine, the largest copper mine in Africa, which is operated by First Quantum Minerals (FQM-T). This program was designed to expand the area of high grade copper mineralization and locate primary copper mineralization.
"These results continue to confirm the presence of high grade, near surface, oxide copper mineralization in this location," commented Bob Sibthorpe, President and CEO. "The Company is actively reviewing the information provided by these latest results to further delineate the geological model and design a follow up exploration program to expand the known mineralized areas and identify the source of this high grade copper."
Copper mineralization is mainly in the form of malachite, a mineral comprised of 57.48% copper and often associated with acid leaching operations. An image highlighting the area targeted by this core drill program, tables listing full information on all drilling to date, including reverse circulation ("RC") drilling, and location maps are available on the Company's website at www.midnightsunmining.com.
The following table summarizes the assay results of the recently completed 12 drill holes:
| Hole # |
From (m) |
To (m) |
Interval (m) |
True width* (m) |
Copper % |
| SLZ-DD-14-001 |
13.50 |
18.00 |
4.50 |
3.60 |
6.27 |
| SLZ-DD-14-002 |
0.00 |
13.00 |
13.00 |
10.40 |
0.06 |
| SLZ-DD-14-003 |
10.00 |
19.95 |
9.95 |
7.96 |
0.50 |
| and |
29.40 |
37.00 |
7.60 |
6.08 |
0.46 |
| SLZ-DD-14-004 |
17.35 |
17.75 |
0.40 |
0.32 |
1.40 |
| and |
43.00 |
43.90 |
0.90 |
0.72 |
0.51 |
| SLZ-DD-14-005 |
21.70 |
29.70 |
8.00 |
6.40 |
5.08 |
| SLZ-DD-14-006 |
14.0 |
24.0 |
10.0 |
8.0 |
0.08 |
| SLZ-DD-14-007 |
8.00 |
13.90 |
5.90 |
4.70 |
1.15 |
| and |
17.50 |
48.00 |
30.50 |
24.40 |
0.55 |
| including |
33.50 |
37.50 |
4.00 |
3.20 |
3.17 |
| SLZ-DD14--008 |
6.00 |
12.50 |
6.50 |
5.20 |
0.49 |
| SLZ-DD-14-009 |
12.00 |
23.60 |
11.60 |
9.28 |
0.34 |
| SLZ-DD-14-010 |
12.00 |
26.20 |
14.20 |
11.36 |
5.71 |
| including |
12.00 |
19.20 |
7.20 |
5.76 |
9.58 |
| SLZ-DD-14-011 |
24.00 |
26.60 |
2.60 |
2.08 |
0.26 |
| SLZ-DD-14-012 |
10.00 |
26.00 |
16.00 |
12.80 |
0.29 |
| * True widths are estimated to be between 75-85% of reported intervals for all core holes and were estimated by cross sectional analysis. |
All drilling was carried out by Layne Drilling Zambia and assaying was performed by Genalysis Laboratory Services, an accredited lab located in Australia. Minor silver values were associated with the higher grade copper samples.
The Company's technical report, dated July 27, 2013 on the Solwezi property entitled "Technical Report on the Geology and Exploration Summary of the Solwezi Group of Prospecting Licences," prepared in accordance with National Instrument 43-101, is available on the company's website, as well as on SEDAR at www.sedar.com.
Qualified Control/Quality Assurance: Samples obtained during core drilling were transported directly to Genalysis Laboratories in Chingola, Zambia by Midnight Sun personnel for sample preparation. Samples were sorted, dried, crushed, and pulped before being sent to Perth, Australia for final chemical analysis using ICP-MS methods. All samples returning >20,000 ppm Cu were automatically re-checked by Genalysis. Genalysis is a fully accredited Laboratory and sample duplicates, standards and blanks were inserted by Genalysis and verified by the qualified person. All assays received from the 2013 reverse circulation drill program in excess of 2% copper were tested for acid solubility and these generally exceeded 95% acid soluble copper.
Qualified Person: Warren Robb, P.Geo, a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.
About Midnight Sun: Midnight Sun is a mineral exploration company with an African focus. The Company has entered into a definitive agreement to option a 60% interest in the Solwezi Licences in Zambia. This option agreement is a part of an ongoing strategic alliance with Kam Chuen Resource Holdings Ltd. Kam Chuen holds an exclusive prospecting license portfolio of over 150 exploration permits covering over 100,000 km2 in five African countries. Kam Chuen has agreed to provide Midnight Sun full access to its property portfolio, as well as first right of refusal regarding the optioning of any of Kam Chuen's exploration licenses, and in exchange, Midnight Sun has agreed to offer Kam Chuen technical expertise in the management and selection of properties.
| ON BEHALF OF THE BOARD |
| |
| Robert Sibthorpe B.Sc.(Geology), M.B.A. |
| President & CEO |
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in the price of gold, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.