Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") announces the start of exploration work at the Kazhiba Target located on the Company's Solwezi Property in Zambia. Work at Kazhiba will be part of the previously announced Cooperative Exploration Plan in place with First Quantum Minerals ("First Quantum") (see News Release dated April 23rd, 2024), designed to define near surface oxide copper resources as a potential feed source for First Quantum's Kansanshi Mine, located less than 10 kilometres from Midnight Sun's Solwezi Property. The current work program includes 3,000 metres of reverse circulation drilling, partial ionic leach sampling, and an induced polarization ("IP") survey.
Midnight Sun's President & CEO, Al Fabbro, states: "I am pleased to have our team hit the ground running at Kazhiba. This target features a high-grade oxide copper blanket, which provides us with a remarkable opportunity to provide feed to the Kansanshi Mine operations. With targets at Kazhiba and Mitu, we have identified and seized an opportunity to unlock near-term production, and with success, realize significant near-term, sustained cash flow. Our Cooperative Exploration Plan with First Quantum forms a key part of our two-fold attack plan to realize the value of both sedimentary-hosted copper targets as well as oxide copper targets across our property."
Kazhiba Target
The Kazhiba Target (see Figure 1) is an advanced exploration target, from which 2,145 soil samples have been collected across two generations of sampling. Generation One was carried out over a wide-spaced 500 metre x 500 metre grid, while Generation Two was carried out over a close-spaced 100 metre x 50 metre grid in two follow-up areas.
The sampling programs yielded two soil-defined target areas: Kazhiba North and Kazhiba South. Subsequent drill campaigns, totalling 12,445 metres, have been completed across these areas using a combination of air core, rotary air blast, reverse circulation, and diamond drilling. Previous drilling has intersected multiple near surface copper oxide intercepts, including 14.2 metres of 5.71% Cu, 24.0 metres of 3.15% Cu, and 8.0 metres of 5.14% Cu*.
Drill results demonstrate that Kazhiba is a high grade, near surface, copper oxide opportunity with the potential for the mineralized zone to extend beyond areas previously drilled.
Kazhiba Exploration Program Details
The 2024 exploration program at Kazhiba has been designed in conjunction with First Quantum, working directly with Midnight Sun's geological team led by Dr. Kevin Bonel. The program has been designed to delineate a target that satisfies the production criteria for processing in the Kansanshi SX/EW oxide copper processing circuit. The planned program will consist of three main components:
Drilling
A 3,000 metre reverse circulation drill grid on the Kazhiba copper-oxide target. Planned holes are expected to average approximately 50 metres in depth. The average spacing over peripheral areas is planned to be 100 metres between holes, and the spacing over the inner envelope of the known mineralized area is planned to be 50 metres.
Partial Ionic Leach Sampling
Soil sampling using a 200 metre x 200 metre sampling grid. A portion of the Kazhiba Target appears to be under thin, geochemically inert cover and the program intends to use partial ionic leach geochemistry to help overcome deficiencies in the understanding of the regolith in the target area and its effect on standard, conventional, geochemistry. A total of 1,377 samples across the target area have been planned.
IP Line Testing
A wide spaced IP Survey over a previously untested anomaly at Kazhiba is planned to identify any presence of stratigraphic-bound copper sulphide mineralization, which could represent the source of the transported copper oxide blanket. Seven lines spaced 200 metres apart will test the anomaly for a total of 6.5 line-kilometres.
*All results have been previously reported. Stated widths are downhole widths. True widths are estimated to be 70%-90% of downhole widths.
Qualified Person: Darin Labrenz, P.Geo., a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.
Figure 1 - Kazhiba Target Location
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About Midnight Sun
Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo Copperbelt, the second largest copper producing region in the world, our property is vast and highly prospective. Our Solwezi Project is surrounded by world-class producing copper mines, including Africa's largest copper mining complex right next door, First Quantum's Kansanshi Mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia's next generational copper deposit.
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
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 NEW RELEASE.
This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions and projections as at the date of this news release. The information in this news release about the resolution of mineral exploration licence renewals, timing and ability of the Company to obtain the approval of relevant regulatory bodies, if at all; and any other information herein that is not a historical fact may be "forward-looking statements". Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.
Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
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