Midlands update - we own a bunchMidlands Commences Drill Preparation For More Gold on Sian and Praso-Ghana
Next drilling program is designed to:
1.Increase the resource on Sian from 400,000 ounces of gold to over 1million ounces through drilling existing targets on the 16 km strikelength gold soil anomaly;
2. Upgrade at least 30% of the increased resource to a measured category;
3. Expand the size of the Sian deposit by drilling Praso South and Praso North.
- Press Release
- Source: Midlands Minerals Corporation
- On 1:48 pm EST, Tuesday November 24, 2009
TORONTO, ONTARIO--(Marketwire - 11/24/09) - Midlands Minerals Corporation (TSX-V:MEX - News)("Midlands" or the "Company") is pleased to announce that following theclosing of the first tranche of financing, preparations are now wellunderway for the next drilling program on the Sian Gold project inGhana. "We have received very timely responses from drilling companiesand we expect to announce the signing of a drilling contract shortly,"said Kim Harris, President and Chief Executive Officer. Up to 18,000metres of RC (reverse circulation) and 2,500 metres of DDH (diamonddrilling) are planned within the next six months.
"We arefocusing on three specific things on Sian in this next drilling. Thefirst key deliverable is to increase the resource to over a millionounces of gold. The second is to come out of the drilling program withat least 30% of the gold in a measured category, up from indicated. Thethird objective is to demonstrate the potential size of the Siandeposit by drilling on the contiguous Kwahu Praso property to the southand to the north of the Sian deposit," said Kim Harris.
Please click links below to view areas where infill drilling is planned on Sian:
https://www.midlandsminerals.com/09/infill
https://www.midlandsminerals.com/09/infill2
OnSian, work is underway to dewater the Esaase open pit to allow drillaccess, and all the necessary permits are in progress. The Company hascompleted a thorough analysis of all the drill sections and the resultsare most encouraging. Work is underway to spot infill drill holes.
OnPraso South, the infill MMI soil survey commenced on November 16, 2009following the closing of the first tranche of private placementfinancing. The survey is being conducted at 200 metre line spacing withsampling stations at 40 metre intervals. The 11 grid lines willgenerate 594 MMI samples, which will be sent to SGS Laboratories inToronto for MMI analysis.
Please click link below to view the South Praso MMI soil survey area:
https://www.midlandsminerals.com/09/prasosoil
"Theresults of the MMI survey will help redefine the mineralized trendsidentified by earlier soil surveys, thereby giving us more accuracy inwhere to place our holes on Praso South," said Pierre Lalande P.Geo,and Senior Geologist for Midlands.
ABOUT MIDLANDS MINERALS
Midlandsis a growth oriented and value based gold exploration company operatingin Ghana and Tanzania, two stable countries with a history of goldmining. Midlands' top priority project is the fully permitted Sian goldproject in Ghana. The Sian property contains Esaase and Ampeha, twopreviously producing open pit mines with a resource with significantgrowth potential. Midlands' contiguous Kwahu Praso project, which wasonce part of Sian, contains extensions of the Esaase and Ampeha trends.Sian and Praso are just 30 kilometres northeast of Newmont Mining's+8.7 million ounce Akyem gold deposit. Midlands also holds highlyprospective licences for gold and diamonds in the Lake VictoriaGoldfields in Tanzania.
The Company has a highly qualifiedmanagement and technical team with broad African experience andextensive experience in the countries in which the Company operates.For more information on the Company, please visit Midlands' website at www.midlandsminerals.com.
On behalf of the Board
Kim Harris, President and Chief Executive Officer
Certainstatements contained in this news release constitute forward-lookingstatements. Such forward-looking statements involve a number of knownand unknown risks, uncertainties and other factors, which may cause theactual results, performance or achievements of the Company to bematerially different from actual results and achievements expressed orimplied by such forward-looking statements. Forward-looking statementsconsist of statements that are not purely historical, including anystatements regarding beliefs, plans, expectations or intentionsregarding the future. No assurance can be given that any of the eventsanticipated by the forward-looking statements will occur or, if they dooccur, what benefits the Company will obtain from them. Theseforward-looking statements reflect management's current views and arebased on certain expectations, estimates and assumptions which mayprove to be incorrect.
The Company adds a cautionary statement tothe effect that the potential quantity and grades referred to in thispress release are conceptual in nature. There has been sufficientexploration to evaluate a mineral resource. However, the Company isuncertain if further exploration will result in a mineral reserve.Readers are cautioned not to place undue reliance on theseforward-looking statements, which speak only as of the date thestatements were made. Readers are also advised to consider suchforward-looking statements while considering the risks inherent in thebusiness of mineral exploration. For more information, investors shouldreview the Company's filings that are available at www.sedar.com.
TheTSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of the content of this newsrelease.